First Horizon Co. (NYSE:FHN) Receives $17.38 Average Price Target from Analysts

First Horizon Co. (NYSE:FHN) has earned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $17.77.

A number of equities research analysts have recently commented on FHN shares. Raymond James cut First Horizon from a “strong-buy” rating to an “outperform” rating and set a $18.00 target price on the stock. in a research report on Thursday, July 18th. Stephens raised their target price on First Horizon from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday. Royal Bank of Canada raised their target price on First Horizon from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Thursday. Evercore ISI dropped their target price on First Horizon from $18.50 to $18.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Finally, StockNews.com upgraded First Horizon from a “sell” rating to a “hold” rating in a research report on Saturday, July 20th.

Institutional Trading of First Horizon

Several institutional investors have recently made changes to their positions in FHN. Millennium Management LLC raised its position in shares of First Horizon by 46.5% during the 2nd quarter. Millennium Management LLC now owns 14,370,699 shares of the financial services provider’s stock valued at $226,626,000 after buying an additional 4,558,129 shares during the period. LSV Asset Management increased its holdings in First Horizon by 49.8% in the 1st 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 during the last quarter. Jupiter Asset Management Ltd. acquired a new stake in First Horizon in the 2nd quarter valued at approximately $66,779,000. Bank of New York Mellon Corp increased its holdings in First Horizon by 13.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 32,389,497 shares of the financial services provider’s stock valued at $510,782,000 after purchasing an additional 3,870,946 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in First Horizon by 28.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 15,515,494 shares of the financial services provider’s stock valued at $244,647,000 after purchasing an additional 3,470,346 shares during the last quarter. Hedge funds and other institutional investors own 80.28% of the company’s stock.

First Horizon Stock Performance

Shares of FHN stock opened at $17.46 on Monday. The firm has a market capitalization of $9.55 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 1.27 and a beta of 0.88. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. The business has a fifty day moving average of $15.88 and a 200 day moving average of $15.58. First Horizon has a 1 year low of $10.16 and a 1 year high of $17.68.

First Horizon (NYSE:FHN) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.04. First Horizon had a return on equity of 8.84% and a net margin of 14.03%. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $821.63 million. During the same period last year, the firm earned $0.27 EPS. As a group, research analysts expect that First Horizon will post 1.46 earnings per share for the current year.

First Horizon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend was Friday, September 13th. 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.