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

Shares of First Horizon Co. (NYSE:FHN) have been given a consensus recommendation of “Moderate Buy” by the thirteen analysts that are currently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $17.38.

Several research firms have issued reports on FHN. Raymond James cut shares of First Horizon from a “strong-buy” rating to an “outperform” rating and set a $18.00 target price on the stock. in a research note on Thursday, July 18th. StockNews.com upgraded First Horizon from a “sell” rating to a “hold” rating in a research report on Saturday, July 20th. Evercore ISI decreased their target price on First Horizon from $19.50 to $18.50 and set an “outperform” rating on the stock in a research note on Tuesday. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $18.00 price target on shares of First Horizon in a research report on Wednesday, July 17th. Finally, Robert W. Baird restated a “neutral” rating and issued a $16.00 price objective on shares of First Horizon in a research report on Tuesday, August 6th.

First Horizon Price Performance

Shares of NYSE:FHN opened at $15.76 on Thursday. The company has a market capitalization of $8.62 billion, a P/E ratio of 11.02, a price-to-earnings-growth ratio of 3.09 and a beta of 0.88. The company’s 50-day moving average is $15.99 and its 200 day moving average is $15.43. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95. First Horizon has a fifty-two week low of $10.08 and a fifty-two week high of $17.46.

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

First Horizon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date is Friday, September 13th. First Horizon’s payout ratio is presently 41.96%.

Hedge Funds Weigh In On First Horizon

Several institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in First Horizon by 224.4% in the first quarter. Bank of New York Mellon Corp now owns 28,518,551 shares of the financial services provider’s stock valued at $439,186,000 after acquiring an additional 19,728,357 shares in the last quarter. Norges Bank purchased a new position in shares of First Horizon in the 4th quarter valued at approximately $86,487,000. Millennium Management LLC boosted its stake in First Horizon by 46.5% in the 2nd quarter. Millennium Management LLC now owns 14,370,699 shares of the financial services provider’s stock worth $226,626,000 after purchasing an additional 4,558,129 shares in the last quarter. LSV Asset Management grew its position in First Horizon by 49.8% during the 1st quarter. LSV Asset Management now owns 13,333,738 shares of the financial services provider’s stock worth $205,340,000 after purchasing an additional 4,434,929 shares during the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new position in First Horizon during the 2nd quarter valued at approximately $66,779,000. Hedge funds and other 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.