First Horizon Corporation (NYSE:FHN) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• First Horizon Corporation (NYSE:FHN) has received an average rating of "Moderate Buy" from seventeen brokerages, with ten analysts recommending a buy and one giving a strong buy.
• The latest price target set by analysts for First Horizon's stock ranges from $22.50 to $27.00, reflecting an overall positive outlook on the company's performance.
• The firm announced a quarterly dividend of $0.15 per share, with an annualized dividend yield of 2.8%, indicating a solid return for investors.

First Horizon Corporation (NYSE:FHN - Get Free Report) has earned a consensus rating of "Moderate Buy" from the seventeen brokerages that are presently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $23.2813.

FHN has been the topic of several recent research reports. Raymond James Financial reaffirmed an "outperform" rating and issued a $24.00 price target (up previously from $20.00) on shares of First Horizon in a report on Tuesday, July 8th. Wells Fargo & Company upped their price target on shares of First Horizon from $20.00 to $23.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. Bank of America upped their price target on shares of First Horizon from $26.00 to $27.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Truist Financial upped their price objective on shares of First Horizon from $21.00 to $23.00 and gave the company a "hold" rating in a research note on Friday, July 11th. Finally, Wall Street Zen raised shares of First Horizon from a "sell" rating to a "hold" rating in a research note on Friday, July 18th.

First Horizon Price Performance

FHN traded down $0.18 on Friday, hitting $22.01. 3,729,129 shares of the company were exchanged, compared to its average volume of 6,444,447. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.96. The business's fifty day moving average is $21.25 and its 200 day moving average is $20.13. First Horizon has a fifty-two week low of $14.82 and a fifty-two week high of $23.00. The firm has a market capitalization of $11.17 billion, a P/E ratio of 14.21, a price-to-earnings-growth ratio of 1.04 and a beta of 0.65.

First Horizon (NYSE:FHN - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.04. First Horizon had a net margin of 17.10% and a return on equity of 10.55%. The company had revenue of $830.19 million for the quarter, compared to the consensus estimate of $832.95 million. During the same quarter in the prior year, the firm earned $0.36 earnings per share. As a group, sell-side analysts anticipate that First Horizon will post 1.67 EPS for the current year.

First Horizon Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be given a $0.15 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.60 annualized dividend and a dividend yield of 2.7%. First Horizon's dividend payout ratio is presently 38.71%.

Insider Buying and Selling at First Horizon

In other news, EVP David T. Popwell sold 38,010 shares of the stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $22.20, for a total value of $843,822.00. Following the completion of the sale, the executive vice president owned 550,011 shares of the company's stock, valued at $12,210,244.20. This represents a 6.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Tammy Locascio sold 10,285 shares of the stock in a transaction on Friday, July 18th. The stock was sold at an average price of $22.25, for a total transaction of $228,841.25. Following the completion of the sale, the chief operating officer directly owned 342,051 shares of the company's stock, valued at $7,610,634.75. The trade was a 2.92% decrease in their position. The disclosure for this sale can be found here. 0.87% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On First Horizon

Large investors have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. grew its holdings in First Horizon by 2.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 77,020 shares of the financial services provider's stock valued at $1,496,000 after purchasing an additional 1,481 shares in the last quarter. Cerity Partners LLC grew its holdings in First Horizon by 22.0% during the 1st quarter. Cerity Partners LLC now owns 126,555 shares of the financial services provider's stock valued at $2,458,000 after purchasing an additional 22,852 shares in the last quarter. Brown Advisory Inc. grew its holdings in First Horizon by 13.3% during the 1st quarter. Brown Advisory Inc. now owns 69,033 shares of the financial services provider's stock valued at $1,341,000 after purchasing an additional 8,110 shares in the last quarter. Cary Street Partners Financial LLC grew its holdings in First Horizon by 713.3% during the 1st quarter. Cary Street Partners Financial LLC now owns 151,053 shares of the financial services provider's stock valued at $2,933,000 after purchasing an additional 132,481 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in First Horizon by 286.9% during the 1st quarter. SG Americas Securities LLC now owns 63,346 shares of the financial services provider's stock valued at $1,230,000 after purchasing an additional 46,975 shares in the last quarter. 80.28% of the stock is owned by institutional investors and hedge funds.

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.