First Horizon Co. (NYSE:FHN) Receives $22.41 Average PT from Analysts

Shares of First Horizon Co. (NYSE:FHN - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the seventeen analysts that are currently covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $22.41.

Several brokerages recently commented on FHN. Citigroup lifted their target price on shares of First Horizon from $24.00 to $25.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Royal Bank of Canada dropped their target price on shares of First Horizon from $24.00 to $22.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Wells Fargo & Company dropped their target price on shares of First Horizon from $22.00 to $20.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 9th. Baird R W upgraded shares of First Horizon from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Finally, Raymond James dropped their target price on shares of First Horizon from $23.00 to $22.00 and set an "outperform" rating on the stock in a report on Wednesday, April 2nd.

First Horizon Stock Down 1.3%

Shares of First Horizon stock traded down $0.27 during midday trading on Tuesday, reaching $19.84. 5,221,733 shares of the company's stock traded hands, compared to its average volume of 6,182,056. The company has a market cap of $10.06 billion, a price-to-earnings ratio of 14.59, a price-to-earnings-growth ratio of 1.19 and a beta of 0.59. The company's 50 day simple moving average is $18.57 and its 200 day simple moving average is $19.89. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96. First Horizon has a 52 week low of $14.09 and a 52 week high of $22.44.

First Horizon (NYSE:FHN - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.02. The business had revenue of $823.69 million for the quarter, compared to the consensus estimate of $825.11 million. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. During the same quarter last year, the firm earned $0.35 EPS. Equities analysts expect that First Horizon will post 1.67 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend is Friday, June 13th. First Horizon's dividend payout ratio (DPR) is presently 41.67%.

Institutional Investors Weigh In On First Horizon

Several large investors have recently modified their holdings of FHN. Belpointe Asset Management LLC grew its position in First Horizon by 3.1% in the fourth quarter. Belpointe Asset Management LLC now owns 17,631 shares of the financial services provider's stock valued at $355,000 after acquiring an additional 535 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in shares of First Horizon by 3.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 15,731 shares of the financial services provider's stock worth $317,000 after purchasing an additional 571 shares during the last quarter. HighTower Advisors LLC increased its position in shares of First Horizon by 1.0% during the 1st quarter. HighTower Advisors LLC now owns 60,510 shares of the financial services provider's stock worth $1,175,000 after purchasing an additional 575 shares in the last quarter. Farther Finance Advisors LLC boosted its position in First Horizon by 29.9% in the fourth quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider's stock valued at $52,000 after buying an additional 591 shares in the last quarter. Finally, Independent Advisor Alliance grew its stake in First Horizon by 1.1% during the fourth quarter. Independent Advisor Alliance now owns 57,730 shares of the financial services provider's stock worth $1,163,000 after buying an additional 632 shares during the last quarter. 80.28% of the stock is currently owned by institutional investors.

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.