Brokerages Set First Horizon Corporation (NYSE:FHN) Target Price at $23.09

First Horizon Corporation (NYSE:FHN - Get Free Report) has been given an average rating of "Moderate Buy" by the seventeen analysts that are presently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $23.28.

FHN has been the subject of several research reports. Royal Bank Of Canada restated an "outperform" rating and set a $24.00 price objective (up previously from $22.00) on shares of First Horizon in a research report on Monday, June 9th. Wells Fargo & Company raised their price objective on shares of First Horizon from $20.00 to $23.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Barclays raised their price objective on shares of First Horizon from $23.00 to $26.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods reduced 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. Finally, Baird R W raised shares of First Horizon from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th.

Hedge Funds Weigh In On First Horizon

Several institutional investors and hedge funds have recently modified their holdings of FHN. Jones Financial Companies Lllp acquired a new position in First Horizon during the 4th quarter worth approximately $30,000. Proficio Capital Partners LLC acquired a new position in First Horizon during the 4th quarter worth approximately $2,589,000. EverSource Wealth Advisors LLC boosted its position in First Horizon by 128.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 6,751 shares of the financial services provider's stock worth $136,000 after acquiring an additional 3,801 shares during the last quarter. Farther Finance Advisors LLC boosted its position in First Horizon by 29.9% during the 4th quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider's stock worth $52,000 after acquiring an additional 591 shares during the last quarter. Finally, Natixis Advisors LLC boosted its position in First Horizon by 0.9% during the 4th quarter. Natixis Advisors LLC now owns 301,577 shares of the financial services provider's stock worth $6,074,000 after acquiring an additional 2,687 shares during the last quarter. 80.28% of the stock is currently owned by institutional investors and hedge funds.

First Horizon Price Performance

FHN traded up $0.12 on Wednesday, reaching $22.33. The company had a trading volume of 9,141,986 shares, compared to its average volume of 5,967,646. The company has a fifty day moving average of $20.56 and a 200-day moving average of $19.99. The company has a market capitalization of $11.33 billion, a P/E ratio of 14.41, a PEG ratio of 1.09 and a beta of 0.61. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. First Horizon has a one year low of $14.34 and a one year high of $22.44.

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

First Horizon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.60 annualized dividend and a dividend yield of 2.69%. First Horizon's dividend payout ratio is presently 41.67%.

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.