StockNews.com upgraded shares of First Horizon (NYSE:FHN – Free Report) from a sell rating to a hold rating in a research note published on Tuesday morning.
Several other equities analysts have also issued reports on the company. Stephens initiated coverage on First Horizon in a research report on Thursday, May 23rd. They set an overweight rating and a $19.00 target price for the company. JPMorgan Chase & Co. boosted 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. Barclays started 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. Wells Fargo & Company boosted their price objective on First Horizon from $14.00 to $16.00 and gave the company an equal weight rating in a research report on Wednesday, April 10th. Finally, Royal Bank of Canada upgraded First Horizon from a sector perform rating to an outperform rating and boosted their price objective for the company from $16.00 to $18.00 in a research report on Tuesday, April 9th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, First Horizon has a consensus rating of Moderate Buy and an average target price of $16.62.
View Our Latest Stock Report on First Horizon
First Horizon Price Performance
First Horizon (NYSE:FHN – Get Free Report) last posted its earnings results on Wednesday, April 17th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. The company had revenue of $819.00 million during the quarter, compared to analyst estimates of $809.51 million. First Horizon had a return on equity of 8.96% and a net margin of 16.07%. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.46 EPS. Research analysts expect that First Horizon will post 1.5 EPS for the current year.
First Horizon Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend is Friday, June 14th. First Horizon’s payout ratio is 41.96%.
Institutional Investors Weigh In On First Horizon
Institutional investors and hedge funds have recently made changes to their positions in the stock. Rise Advisors LLC bought a new stake in shares of First Horizon during the 1st quarter worth approximately $25,000. Raleigh Capital Management Inc. bought a new stake in shares of First Horizon during the 4th quarter worth approximately $28,000. Fidelis Capital Partners LLC bought a new stake in shares of First Horizon during the 1st quarter worth approximately $28,000. Fortitude Family Office LLC raised its stake in shares of First Horizon by 129.3% during the 1st quarter. Fortitude Family Office LLC now owns 1,954 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 1,102 shares in the last quarter. Finally, Richardson Financial Services Inc. bought a new stake in shares of First Horizon during the 4th quarter worth approximately $35,000. Institutional investors own 80.28% of the company’s stock.
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.
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