First Horizon Co. (NYSE:FHN – Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday following a dividend announcement from the company. The company traded as high as $21.83 and last traded at $21.89, with a volume of 789681 shares trading hands. The stock had previously closed at $21.29.
The newly announced dividend which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.78%. First Horizon’s dividend payout ratio is presently 44.12%.
Analysts Set New Price Targets
Several equities research analysts have commented on FHN shares. Wells Fargo & Company increased their price objective on shares of First Horizon from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. Barclays lifted their price objective on shares of First Horizon from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Robert W. Baird set a $17.00 price target on shares of First Horizon in a research report on Thursday, October 17th. Royal Bank of Canada boosted their price target on shares of First Horizon from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Finally, The Goldman Sachs Group upped their target price on shares of First Horizon from $18.50 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.04.
First Horizon Stock Up 1.3 %
The company has a market capitalization of $11.44 billion, a PE ratio of 15.86, a PEG ratio of 1.19 and a beta of 0.92. The company’s 50 day moving average is $20.61 and its two-hundred day moving average is $18.00. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14.
First Horizon (NYSE:FHN – Get Free Report) last posted its earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.05. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. During the same quarter in the previous year, the business earned $0.32 earnings per share. On average, analysts anticipate that First Horizon Co. will post 1.63 earnings per share for the current year.
First Horizon declared that its Board of Directors has approved a share repurchase program on Tuesday, October 29th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 10.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
Insiders Place Their Bets
In related news, Director Harry V. Barton, Jr. sold 10,000 shares of First Horizon stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $19.92, for a total transaction of $199,200.00. Following the completion of the transaction, the director now directly owns 166,840 shares of the company’s stock, valued at approximately $3,323,452.80. The trade was a 5.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO D Bryan Jordan sold 109,980 shares of First Horizon stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $21.13, for a total transaction of $2,323,877.40. Following the transaction, the chief executive officer now directly owns 1,861,381 shares of the company’s stock, valued at approximately $39,330,980.53. This represents a 5.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 220,954 shares of company stock valued at $4,519,333 in the last three months. Corporate insiders own 0.87% of the company’s stock.
Institutional Investors Weigh In On First Horizon
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc lifted its holdings in First Horizon by 160.1% during the 4th quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider’s stock valued at $29,000 after buying an additional 884 shares in the last quarter. Kentucky Trust Co bought a new stake in First Horizon during the 4th quarter valued at about $32,000. UMB Bank n.a. lifted its holdings in First Horizon by 365.0% during the 3rd quarter. UMB Bank n.a. now owns 1,688 shares of the financial services provider’s stock valued at $26,000 after buying an additional 1,325 shares in the last quarter. Covestor Ltd lifted its holdings in First Horizon by 44.0% during the 3rd quarter. Covestor Ltd now owns 2,130 shares of the financial services provider’s stock valued at $34,000 after buying an additional 651 shares in the last quarter. Finally, True Wealth Design LLC bought a new stake in First Horizon during the 3rd quarter valued at about $36,000. Institutional investors own 80.28% of the company’s stock.
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.
Featured Articles
- Five stocks we like better than First Horizon
- What is MarketRank™? How to Use it
- How to Short Sell Stocks Like a Pro: Strategies and Tips
- Uptrend Stocks Explained: Learn How to Trade Using Uptrends
- 3 Steel Stocks Soaring After Tariff Announcements
- How Investors Can Identify and Successfully Trade Gap-Down Stocks
- Top Analysts’ Picks for 2025: 3 of Morgan Stanley’s Favorites
Receive News & Ratings for First Horizon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Horizon and related companies with MarketBeat.com's FREE daily email newsletter.