First Horizon Co. (NYSE:FHN) Announces $0.15 Quarterly Dividend

First Horizon Co. (NYSE:FHN - Get Free Report) declared a quarterly dividend on Tuesday, April 23rd, RTT News reports. Stockholders of record on Friday, June 14th will be paid a dividend of 0.15 per share by the financial services provider on Monday, July 1st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.03%.

First Horizon has a dividend payout ratio of 36.6% meaning its dividend is sufficiently covered by earnings. Analysts expect First Horizon to earn $1.63 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 36.8%.

First Horizon Stock Performance

First Horizon stock traded down $0.03 during midday trading on Tuesday, hitting $14.88. 4,995,410 shares of the company were exchanged, compared to its average volume of 7,092,395. The firm has a market capitalization of $8.26 billion, a PE ratio of 10.41, a price-to-earnings-growth ratio of 4.03 and a beta of 0.94. First Horizon has a fifty-two week low of $8.99 and a fifty-two week high of $18.52. The business has a fifty day simple moving average of $14.59 and a two-hundred day simple moving average of $13.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.95 and a current ratio of 0.96.

First Horizon (NYSE:FHN - Get Free Report) last posted 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 analyst estimates of $809.51 million. First Horizon had a return on equity of 8.96% and a net margin of 16.07%. First Horizon's revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period last year, the company earned $0.46 earnings per share. On average, sell-side analysts forecast that First Horizon will post 1.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on FHN shares. StockNews.com raised First Horizon from a "sell" rating to a "hold" rating in a report on Friday. Wells Fargo & Company raised their price objective on First Horizon from $14.00 to $16.00 and gave the company an "equal weight" rating in a report on Wednesday, April 10th. Evercore ISI raised their price objective on First Horizon from $17.00 to $17.50 and gave the company an "outperform" rating in a report on Thursday, March 28th. Robert W. Baird raised their price objective on First Horizon from $15.00 to $16.00 and gave the company a "neutral" rating in a report on Thursday, April 18th. Finally, Keefe, Bruyette & Woods raised First Horizon from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $16.00 to $18.00 in a report on Friday, April 5th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, First Horizon currently has an average rating of "Moderate Buy" and a consensus target price of $16.15.

First Horizon announced that its board has approved a stock repurchase program on Tuesday, January 23rd that authorizes the company to buyback $650.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 7.7% of its shares through open market purchases. Shares buyback programs are usually 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.