First Horizon Co. (NYSE:FHN) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of First Horizon Co. (NYSE:FHN) have received a consensus recommendation of “Moderate Buy” from the thirteen research firms that are covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $17.38.

A number of equities research analysts have recently commented on the stock. Robert W. Baird reaffirmed a “neutral” rating and set a $16.00 price objective on shares of First Horizon in a research note on Tuesday, August 6th. Raymond James cut shares of First Horizon from a “strong-buy” rating to an “outperform” rating and set a $18.00 price objective on the stock. in a research note on Thursday, July 18th. Barclays increased their target price on First Horizon from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Monday, June 24th. JPMorgan Chase & Co. decreased their target price on First Horizon from $19.00 to $18.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Finally, Royal Bank of Canada increased their target price on First Horizon from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FHN. Rise Advisors LLC purchased a new position in First Horizon in the 1st quarter valued at $25,000. UMB Bank n.a. increased its stake in shares of First Horizon by 365.0% in the 3rd quarter. UMB Bank n.a. now owns 1,688 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 1,325 shares during the last quarter. Raleigh Capital Management Inc. acquired a new stake in shares of First Horizon in the 4th quarter worth $28,000. Fidelis Capital Partners LLC acquired a new stake in shares of First Horizon in the 1st quarter worth $28,000. Finally, Family Firm Inc. acquired a new stake in shares of First Horizon in the 2nd quarter worth $28,000. Hedge funds and other institutional investors own 80.28% of the company’s stock.

First Horizon Price Performance

Shares of NYSE:FHN opened at $16.38 on Monday. The company has a market cap of $8.96 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 1.27 and a beta of 0.88. First Horizon has a twelve month low of $10.16 and a twelve month high of $17.46. The company’s 50 day moving average is $15.65 and its 200 day moving average is $15.52. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14.

First Horizon (NYSE:FHN) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $819.82 million. First Horizon had a return on equity of 8.84% and a net margin of 14.03%. During the same period in the previous year, the business earned $0.39 EPS. On average, sell-side analysts forecast that First Horizon will post 1.46 EPS for the current year.

First Horizon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.60 dividend on an annualized basis and a yield of 3.66%. First Horizon’s payout ratio is currently 41.96%.

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.