First Horizon Corporation (NYSE:FHN) Stock Has Consensus Target Price of $27.07

Shares of First Horizon Corporation (NYSE:FHN) have earned an average recommendation of “Hold” from the twenty-two analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $26.98.

Several analysts have recently weighed in on FHN shares. Wells Fargo & Company cut their price objective on First Horizon from $28.00 to $25.00 and set an “equal weight” rating for the company in a report on Wednesday, September 30th. JPMorgan Chase & Co. lowered their target price on First Horizon from $28.50 to $27.00 and set a “neutral” rating on the stock in a report on Thursday, July 16th. Evercore reiterated a “hold” rating and issued a $25.00 price target on shares of First Horizon in a research report on Thursday, October 1st. National Bank Financial set a $30.00 price target on shares of First Horizon in a report on Tuesday, September 8th. Finally, Hovde Group initiated coverage on shares of First Horizon in a report on Thursday, September 17th. They issued a “market perform” rating and a $25.00 price target for the company.

First Horizon Stock Performance

Shares of NYSE FHN opened at $22.80 on Friday. First Horizon has a 1 year low of $19.80 and a 1 year high of $26.56. The firm has a market cap of $10.80 billion, a P/E ratio of 10.91, a PEG ratio of 0.99 and a beta of 0.61. The stock has a fifty day moving average price of $24.32 and a two-hundred day moving average price of $24.52. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.96 and a current ratio of 0.97.

First Horizon (NYSE:FHN) last issued its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. First Horizon had a return on equity of 12.06% and a net margin of 21.12%. The company had revenue of $887.00 million for the quarter, compared to analysts’ expectations of $878.42 million. During the same period last year, the firm earned $0.45 EPS. Research analysts forecast that First Horizon will post 2.15 EPS for the current fiscal year.

First Horizon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Friday, September 11th were paid a $0.17 dividend. The ex-dividend date of this dividend was Friday, September 11th. This represents a $0.68 annualized dividend and a dividend yield of 3.0%. First Horizon’s payout ratio is currently 32.54%.

Insider Activity at First Horizon

In related news, EVP Elizabeth Ardoin sold 18,313 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $24.85, for a total value of $455,078.05. Following the sale, the executive vice president directly owned 340,368 shares in the company, valued at $8,458,144.80. The trade was a 5.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.91% of the stock is owned by insiders.

Institutional Trading of First Horizon

Large investors have recently added to or reduced their stakes in the business. Bessemer Group Inc. raised its stake in shares of First Horizon by 0.3% in the 1st quarter. Bessemer Group Inc. now owns 138,920 shares of the financial services provider’s stock valued at $3,162,000 after purchasing an additional 425 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of First Horizon by 5.2% in the third quarter. Farther Finance Advisors LLC now owns 9,212 shares of the financial services provider’s stock valued at $212,000 after purchasing an additional 459 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of First Horizon by 2.8% during the third quarter. GAMMA Investing LLC now owns 20,261 shares of the financial services provider’s stock worth $466,000 after buying an additional 558 shares during the period. Summit Asset Management LLC boosted its position in shares of First Horizon by 4.0% during the first quarter. Summit Asset Management LLC now owns 18,023 shares of the financial services provider’s stock worth $410,000 after buying an additional 695 shares during the period. Finally, Basecamp Wealth Advisors LLC boosted its position in shares of First Horizon by 56.2% during the first quarter. Basecamp Wealth Advisors LLC now owns 2,073 shares of the financial services provider’s stock worth $47,000 after buying an additional 746 shares during the period. 80.28% of the stock is currently owned by institutional investors.

First Horizon Company Profile

First Horizon Corporation (NYSE:FHN) is a financial services company headquartered in Memphis, Tennessee. Through its banking subsidiary, First Horizon Bank, the company provides a range of financial products and services to consumers, businesses, and institutions.

Its main activities include consumer and commercial banking, lending, deposit accounts, treasury and cash-management services, mortgage banking, and investment and wealth-management services. First Horizon also offers capital-markets and investment-banking services through its specialized businesses, serving clients across various industries and market segments.

The company traces its roots to First Tennessee Bank, which was founded in Memphis in 1864.