First Horizon (NYSE:FHN) Stock Gets Price Target Trim from JPMorgan Chase & Co.

First Horizon (NYSE:FHN) had its price objective decreased by JPMorgan Chase & Co. from $27.00 to $26.00 in a research report report published on Friday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the financial services provider’s stock.

Other equities analysts also recently issued research reports about the company. Fundamental Research set a $28.50 target price on First Horizon in a report on Wednesday, July 1st. Wells Fargo & Company reduced their price target on shares of First Horizon from $28.00 to $25.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 30th. Wall Street Zen cut shares of First Horizon from a “hold” rating to a “sell” rating in a report on Sunday, October 11th. Raymond James Financial decreased their price target on shares of First Horizon from $28.00 to $27.00 and set an “outperform” rating for the company in a report on Friday. Finally, Citigroup lowered their price objective on shares of First Horizon from $28.50 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, September 22nd. Eight investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $27.02.

First Horizon Stock Up 0.1%

NYSE:FHN opened at $22.91 on Friday. The firm has a market capitalization of $10.85 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 0.99 and a beta of 0.61. First Horizon has a 1-year low of $20.00 and a 1-year high of $26.56. The company has a current ratio of 0.97, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16. The business’s fifty day moving average price is $24.15 and its 200 day moving average price is $24.53.

First Horizon (NYSE:FHN) last announced its quarterly earnings data on Thursday, October 15th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.01. First Horizon had a return on equity of 12.24% and a net margin of 14.35%. The firm had revenue of $883.00 million during the quarter, compared to the consensus estimate of $889.18 million. During the same period in the prior year, the business earned $0.51 EPS. On average, sell-side analysts forecast that First Horizon will post 2.15 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Friday, September 11th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $0.68 dividend on an annualized basis and a yield of 3.0%. First Horizon’s dividend payout ratio (DPR) is presently 48.92%.

Insider Buying and Selling

In other First Horizon news, EVP Elizabeth Ardoin sold 18,313 shares of the business’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $24.85, for a total value of $455,078.05. Following the transaction, the executive vice president owned 340,368 shares in the company, valued at $8,458,144.80. The trade was a 5.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.91% of the stock is owned by company insiders.

Institutional Investors Weigh In On First Horizon

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ancora Advisors LLC bought a new stake in shares of First Horizon in the 2nd quarter valued at approximately $42,000. Basecamp Wealth Advisors LLC increased its holdings in First Horizon by 56.2% in 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 last quarter. Parkside Financial Bank & Trust increased its holdings in First Horizon by 58.1% in the second quarter. Parkside Financial Bank & Trust now owns 2,352 shares of the financial services provider’s stock worth $60,000 after buying an additional 864 shares during the last quarter. Transamerica Financial Advisors LLC acquired a new position in First Horizon in the second quarter worth approximately $70,000. Finally, Cedar Mountain Advisors LLC bought a new position in First Horizon during the first quarter valued at approximately $77,000. 80.28% of the stock is owned by hedge funds and other institutional investors.

Key First Horizon News

Here are the key news stories impacting First Horizon this week:

• Positive Sentiment: First Horizon reported third-quarter adjusted earnings of $0.53 per share, slightly above the $0.52 analyst consensus and up from $0.51 a year earlier. The result indicates underlying earnings remained relatively resilient despite significant balance-sheet repositioning. First Horizon Third-Quarter Results
• Positive Sentiment: Management is selling approximately $4.5 billion of consumer mortgages and making strategic balance-sheet changes intended to improve future earnings quality, capital efficiency and growth. Investors may view the move as a way to reduce lower-return assets, although execution and the eventual payoff remain important. First Horizon Mortgage Portfolio Sale
• Neutral Sentiment: Reported revenue of $883 million fell short of the $889.18 million consensus. The mortgage transaction drove a $94 million net loss, or $0.20 per share, creating a sharp contrast between the adjusted EPS beat and the weaker GAAP headline result. First Horizon Q3 Revenue and Net Loss
• Negative Sentiment: JPMorgan lowered its price target for FHN from $27 to $26 and maintained a neutral rating. Although the revised target still implies potential upside, the reduction signals limited near-term conviction following the mixed quarter and portfolio restructuring. JPMorgan First Horizon Price Target

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.