First Horizon Corporation (NYSE:FHN) Receives $22.53 Consensus Target Price from Analysts

First Horizon Corporation (NYSE:FHN - Get Free Report) has been given an average rating of "Moderate Buy" by the seventeen research firms that are covering the firm, MarketBeat.com reports. Six 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 12-month price objective among brokerages that have covered the stock in the last year is $22.53.

Several brokerages have weighed in on FHN. Citigroup increased their price objective on First Horizon from $24.00 to $25.00 and gave the company a "buy" rating in a report on Friday, February 28th. Royal Bank Of Canada reissued an "outperform" rating and issued a $24.00 price objective (up previously from $22.00) on shares of First Horizon in a report on Monday, June 9th. Barclays dropped their price objective on shares of First Horizon from $25.00 to $23.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Truist Financial assumed coverage on shares of First Horizon in a research note on Tuesday, May 13th. They issued a "hold" rating and a $21.00 target price for the company. Finally, Wells Fargo & Company lowered their price target on shares of First Horizon from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th.

Institutional Investors Weigh In On First Horizon

Large investors have recently added to or reduced their stakes in the company. Belpointe Asset Management LLC boosted its holdings in shares of First Horizon by 3.1% during the fourth quarter. Belpointe Asset Management LLC now owns 17,631 shares of the financial services provider's stock worth $355,000 after purchasing an additional 535 shares during the period. Steward Partners Investment Advisory LLC increased its stake in shares of First Horizon by 3.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 15,731 shares of the financial services provider's stock valued at $317,000 after buying an additional 571 shares during the period. HighTower Advisors LLC lifted its stake in First Horizon by 1.0% in the first quarter. HighTower Advisors LLC now owns 60,510 shares of the financial services provider's stock worth $1,175,000 after acquiring an additional 575 shares during the period. Farther Finance Advisors LLC lifted its stake 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 worth $52,000 after acquiring an additional 591 shares during the period. Finally, Independent Advisor Alliance increased its position in First Horizon by 1.1% during the 4th quarter. Independent Advisor Alliance now owns 57,730 shares of the financial services provider's stock valued at $1,163,000 after purchasing an additional 632 shares during the period. Institutional investors own 80.28% of the company's stock.

First Horizon Stock Up 0.8%

Shares of First Horizon stock traded up $0.15 during trading hours on Friday, reaching $20.38. The company's stock had a trading volume of 5,639,429 shares, compared to its average volume of 5,844,769. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.95 and a current ratio of 0.96. The stock's fifty day simple moving average is $19.19 and its two-hundred day simple moving average is $19.79. The company has a market capitalization of $10.34 billion, a P/E ratio of 14.16, a P/E/G ratio of 1.02 and a beta of 0.61. 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 released its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.02. The business had revenue of $823.69 million during the quarter, compared to the consensus estimate of $825.11 million. First Horizon had a return on equity of 10.33% and a net margin of 16.13%. During the same quarter in the previous year, the business earned $0.35 EPS. On average, research analysts forecast that First Horizon will post 1.67 earnings per share for the current year.

First Horizon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Friday, June 13th. First Horizon's payout ratio is 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.