First Horizon Co. (NYSE:FHN) Given Average Rating of “Moderate Buy” by Analysts

Shares of First Horizon Co. (NYSE:FHN) have earned an average rating of “Moderate Buy” from the thirteen research firms that are currently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $18.38.

Several equities research analysts recently issued reports on FHN shares. Royal Bank of Canada upped their price target on First Horizon from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Evercore ISI upped their price target on First Horizon from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Stephens upped their price objective on First Horizon from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $18.00 price objective on shares of First Horizon in a research note on Wednesday, July 17th. Finally, Barclays upped their price objective on First Horizon from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday, November 8th.

Insider Transactions at First Horizon

In related news, EVP David T. Popwell sold 100,974 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $19.77, for a total transaction of $1,996,255.98. Following the sale, the executive vice president now owns 519,926 shares of the company’s stock, valued at approximately $10,278,937.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.87% of the stock is owned by corporate insiders.

Institutional Trading of First Horizon

Institutional investors have recently added to or reduced their stakes in the stock. UMB Bank n.a. raised its holdings 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 valued at $26,000 after acquiring an additional 1,325 shares in the last quarter. Family Firm Inc. purchased a new stake in shares of First Horizon in the 2nd quarter valued at about $28,000. Nemes Rush Group LLC raised its holdings in shares of First Horizon by 306.2% in the 2nd quarter. Nemes Rush Group LLC now owns 1,828 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 1,378 shares in the last quarter. Industrial Alliance Investment Management Inc. purchased a new stake in shares of First Horizon in the 2nd quarter valued at about $31,000. Finally, Covestor Ltd raised its holdings in shares of First Horizon by 44.0% in the 3rd quarter. Covestor Ltd now owns 2,130 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 651 shares in the last quarter. Hedge funds and other institutional investors own 80.28% of the company’s stock.

First Horizon Trading Down 0.7 %

Shares of First Horizon stock opened at $19.88 on Friday. The stock has a fifty day simple moving average of $16.57 and a 200 day simple moving average of $16.00. First Horizon has a 12-month low of $11.12 and a 12-month high of $20.53. The company has a market capitalization of $10.65 billion, a P/E ratio of 14.41, a price-to-earnings-growth ratio of 1.47 and a beta of 0.86. The company has a current ratio of 1.84, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14.

First Horizon (NYSE:FHN) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.04. First Horizon had a return on equity of 9.51% and a net margin of 15.43%. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $821.63 million. During the same quarter in the prior year, the company posted $0.27 earnings per share. On average, sell-side analysts anticipate that First Horizon will post 1.49 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, December 13th. This represents a $0.60 annualized dividend and a dividend yield of 3.02%. First Horizon’s payout ratio is 43.48%.

First Horizon declared that its board has authorized a stock repurchase program on Tuesday, October 29th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 10.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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.