First Horizon (NYSE:FHN) Price Target Raised to $19.00 at Barclays

First Horizon (NYSE:FHN) had its price objective lifted by Barclays from $18.00 to $19.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

Several other research analysts have also commented on the stock. Evercore ISI upped their price objective on shares of First Horizon from $17.00 to $17.50 and gave the stock an outperform rating in a report on Thursday, March 28th. StockNews.com upgraded shares of First Horizon from a sell rating to a hold rating in a research note on Tuesday, June 18th. Wells Fargo & Company increased their price target on shares of First Horizon from $14.00 to $16.00 and gave the stock an equal weight rating in a research note on Wednesday, April 10th. Stephens started coverage on shares of First Horizon in a research note on Thursday, May 23rd. They issued an overweight rating and a $19.00 price target for the company. Finally, Robert W. Baird increased their price target on shares of First Horizon from $15.00 to $16.00 and gave the stock a neutral rating in a research note on Thursday, April 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $16.69.

First Horizon Trading Up 0.2 %

Shares of FHN opened at $14.80 on Monday. The stock has a market capitalization of $8.09 billion, a P/E ratio of 10.35, a PEG ratio of 2.01 and a beta of 0.91. 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 firm has a fifty day simple moving average of $15.29 and a two-hundred day simple moving average of $14.65. First Horizon has a twelve month low of $10.08 and a twelve month high of $16.28.

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

First Horizon Dividend Announcement

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

Hedge Funds Weigh In On First Horizon

A number of institutional investors and hedge funds have recently made changes to their positions in FHN. Bank of New York Mellon Corp boosted its holdings in shares of First Horizon by 224.4% in the first quarter. Bank of New York Mellon Corp now owns 28,518,551 shares of the financial services provider’s stock worth $439,186,000 after buying an additional 19,728,357 shares during the last quarter. AQR Capital Management LLC lifted its holdings in First Horizon by 6,217.8% during the third quarter. AQR Capital Management LLC now owns 7,806,037 shares of the financial services provider’s stock valued at $86,023,000 after purchasing an additional 7,682,480 shares in the last quarter. Norges Bank purchased a new position in First Horizon during the fourth quarter valued at approximately $86,487,000. LSV Asset Management lifted its holdings in First Horizon by 49.8% during the first quarter. LSV Asset Management now owns 13,333,738 shares of the financial services provider’s stock valued at $205,340,000 after purchasing an additional 4,434,929 shares in the last quarter. Finally, Junto Capital Management LP purchased a new position in First Horizon during the fourth quarter valued at approximately $52,721,000. Hedge funds and other institutional investors own 80.28% of the company’s stock.

First Horizon Company Profile

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.