First Horizon Co. (NYSE:FHN) Receives $16.15 Consensus PT from Analysts

First Horizon Co. (NYSE:FHN) has been assigned a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $16.15.

FHN has been the subject of several research analyst reports. Wells Fargo & Company increased their target price on First Horizon from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. Barclays initiated coverage on First Horizon in a research report on Friday, March 8th. They set an “overweight” rating and a $18.00 target price for the company. StockNews.com upgraded First Horizon from a “sell” rating to a “hold” rating in a research report on Friday, April 19th. Evercore ISI increased their target price on First Horizon from $17.00 to $17.50 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Finally, JPMorgan Chase & Co. increased their target price on First Horizon from $16.00 to $17.50 and gave the stock a “neutral” rating in a research report on Thursday, April 4th.

Institutional Investors Weigh In On First Horizon

Institutional investors have recently modified their holdings of the stock. Rise Advisors LLC bought a new stake in shares of First Horizon in the 1st quarter valued at approximately $25,000. Fortitude Family Office LLC lifted its stake in shares of First Horizon by 129.3% in the 1st quarter. Fortitude Family Office LLC now owns 1,954 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 1,102 shares during the last quarter. Raleigh Capital Management Inc. bought a new stake in shares of First Horizon in the 4th quarter valued at approximately $28,000. Macroview Investment Management LLC bought a new stake in shares of First Horizon in the 3rd quarter valued at approximately $25,000. Finally, Richardson Financial Services Inc. bought a new stake in shares of First Horizon in the 4th quarter valued at approximately $35,000. 80.28% of the stock is owned by institutional investors.

First Horizon Stock Performance

Shares of FHN opened at $14.81 on Monday. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.13. The business has a 50-day simple moving average of $14.64 and a two-hundred day simple moving average of $13.52. The stock has a market cap of $8.22 billion, a price-to-earnings ratio of 10.36, a PEG ratio of 4.10 and a beta of 0.94. First Horizon has a 52 week low of $8.99 and a 52 week high of $17.82.

First Horizon (NYSE:FHN) last issued its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The business had revenue of $819.00 million during the quarter, compared to analysts’ expectations of $809.51 million. First Horizon had a return on equity of 8.96% and a net margin of 16.07%. The business’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.46 earnings per share. On average, analysts expect that First Horizon will post 1.5 EPS for the current year.

First Horizon declared that its Board of Directors has approved a share repurchase plan on Tuesday, January 23rd that permits the company to buyback $650.00 million in shares. This buyback authorization permits the financial services provider to repurchase up to 7.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

First Horizon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date is Friday, June 14th. First Horizon’s payout ratio is presently 41.96%.

About First Horizon

First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial services. The company operates through Regional Banking and Specialty Banking segments. It offers general banking services for consumers, businesses, financial institutions, and governments.