First Horizon Co. (NYSE:FHN) Given Consensus Rating of "Moderate Buy" by Brokerages

Shares of First Horizon Co. (NYSE:FHN - Get Free Report) have been given an average rating of "Moderate Buy" by the seventeen ratings firms that are currently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $22.41.

Several equities research analysts have weighed in on FHN shares. Barclays lowered their price objective on shares of First Horizon from $25.00 to $23.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods dropped their price objective on shares of First Horizon from $24.00 to $22.00 and set a "market perform" rating for the company in a research report on Thursday, April 17th. Truist Financial started coverage on First Horizon in a research report on Tuesday, May 13th. They issued a "hold" rating and a $21.00 price objective on the stock. Jefferies Financial Group started coverage on First Horizon in a research report on Wednesday, May 21st. They set a "buy" rating and a $25.00 target price for the company. Finally, Baird R W upgraded First Horizon from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th.

Hedge Funds Weigh In On First Horizon

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FHN. Jones Financial Companies Lllp acquired a new stake in shares of First Horizon in the 4th quarter valued at about $30,000. Byrne Asset Management LLC raised its position in First Horizon by 115.3% in the 1st quarter. Byrne Asset Management LLC now owns 1,550 shares of the financial services provider's stock valued at $30,000 after buying an additional 830 shares during the last quarter. Kentucky Trust Co acquired a new stake in First Horizon in the 4th quarter valued at approximately $32,000. Geneos Wealth Management Inc. lifted its stake in First Horizon by 156.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,794 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 1,095 shares in the last quarter. Finally, Quarry LP boosted its position in First Horizon by 129.2% during the 1st quarter. Quarry LP now owns 2,205 shares of the financial services provider's stock worth $43,000 after acquiring an additional 1,243 shares during the last quarter. 80.28% of the stock is owned by institutional investors and hedge funds.

First Horizon Price Performance

Shares of First Horizon stock traded down $0.17 during mid-day trading on Tuesday, reaching $19.95. 2,048,552 shares of the stock were exchanged, compared to its average volume of 6,151,132. First Horizon has a fifty-two week low of $14.09 and a fifty-two week high of $22.44. The company has a market cap of $10.12 billion, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 1.19 and a beta of 0.59. The firm has a 50-day simple moving average of $18.57 and a 200 day simple moving average of $19.89. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14.

First Horizon (NYSE:FHN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.02. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. The firm had revenue of $823.69 million during the quarter, compared to the consensus estimate of $825.11 million. During the same quarter in the previous year, the company posted $0.35 EPS. On average, sell-side analysts predict that First Horizon will post 1.67 EPS for the current fiscal year.

First Horizon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Friday, June 13th. First Horizon's dividend payout ratio (DPR) is presently 41.67%.

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.