First Horizon Co. (NYSE:FHN) Receives Average Recommendation of "Moderate Buy" from Brokerages

First Horizon Co. (NYSE:FHN - Get Free Report) has been given an average rating of "Moderate Buy" by the thirteen research firms that are covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $16.15.

Several brokerages recently commented on FHN. Wedbush reiterated an "outperform" rating and issued a $17.00 target price on shares of First Horizon in a report on Wednesday, April 10th. Wells Fargo & Company boosted their price objective on shares of First Horizon from $14.00 to $16.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 10th. Royal Bank of Canada upgraded shares of First Horizon from a "sector perform" rating to an "outperform" rating and boosted their price objective for the stock from $16.00 to $18.00 in a report on Tuesday, April 9th. JPMorgan Chase & Co. boosted their price objective on shares of First Horizon from $16.00 to $17.50 and gave the stock a "neutral" rating in a report on Thursday, April 4th. Finally, UBS Group upgraded shares of First Horizon from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $15.50 to $16.00 in a report on Wednesday, January 24th.

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. Tidal Investments LLC acquired a new position in shares of First Horizon during the first quarter worth approximately $207,000. EJF Capital LLC lifted its position in shares of First Horizon by 43.3% during the first quarter. EJF Capital LLC now owns 234,487 shares of the financial services provider's stock worth $3,611,000 after purchasing an additional 70,830 shares in the last quarter. Bayesian Capital Management LP acquired a new position in shares of First Horizon during the first quarter worth approximately $505,000. Black Maple Capital Management LP acquired a new position in shares of First Horizon during the first quarter worth approximately $500,000. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of First Horizon by 5.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 309,493 shares of the financial services provider's stock worth $4,767,000 after purchasing an additional 17,329 shares in the last quarter. 80.28% of the stock is currently owned by institutional investors and hedge funds.

First Horizon Stock Up 0.7 %

Shares of NYSE:FHN traded up $0.11 during trading on Friday, reaching $16.02. 3,472,500 shares of the company traded hands, compared to its average volume of 7,012,547. The firm has a fifty day simple moving average of $15.05 and a 200 day simple moving average of $14.05. The firm has a market cap of $8.76 billion, a P/E ratio of 11.20, a price-to-earnings-growth ratio of 4.39 and a beta of 0.94. First Horizon has a 1-year low of $10.08 and a 1-year high of $16.15. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.13.

First Horizon (NYSE:FHN - Get Free Report) last announced its earnings results on Wednesday, April 17th. The financial services provider reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. The firm had revenue of $819.00 million for the quarter, compared to the consensus estimate of $809.51 million. First Horizon had a net margin of 16.07% and a return on equity of 8.96%. The business's quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.46 EPS. Analysts anticipate that First Horizon will post 1.5 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a $0.15 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.60 dividend on an annualized basis and a yield of 3.75%. First Horizon's dividend payout ratio (DPR) is presently 41.96%.

First Horizon declared that its board has approved a share buyback plan on Tuesday, January 23rd that permits the company to repurchase $650.00 million in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 7.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

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.