First Horizon (FHN) Stock Forecast, Price & News

First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial services. The company operates through three segments: Regional Banking, Specialty Banking, and Corporate. It offers general banking services for consumers, businesses, financial institutions, and governments. The company also underwrites bank-eligible securities and other fixed-income securities eligible for underwriting by financial subsidiaries; sells loans and derivatives; and offers advisory services. In addition, it offers various services, such as mortgage banking; title insurance and loan-closing; brokerage; correspondent banking; nationwide check clearing and remittance processing; trust, fiduciary, and agency; equipment finance; and investment and financial advisory services. Further, the company sells mutual fund and retail insurance products; and credit cards. It operates approximately 500 banking offices in 22 states under the First Horizon Bank brand; and 400 banking centers in 12 states under the FHN Financial brand in the United States. The company was formerly known as First Horizon National Corporation and changed its name to First Horizon Corporation in November 2020. First Horizon Corporation was founded in 1864 and is headquartered in Memphis, Tennessee.

First Horizon Trading Up 0.6 %

Shares of First Horizon stock traded up $0.13 on Friday, hitting $23.00. The stock had a trading volume of 2,412,711 shares, compared to its average volume of 2,733,718. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.21. First Horizon has a one year low of $14.67 and a one year high of $24.24. The stock has a market cap of $12.30 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 2.96 and a beta of 1.06. The stock's 50-day simple moving average is $22.13 and its two-hundred day simple moving average is $21.64.

First Horizon (NYSE:FHN - Get Rating) last issued its earnings results on Tuesday, July 19th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.01). First Horizon had a return on equity of 12.27% and a net margin of 26.78%. During the same quarter in the prior year, the firm posted $0.58 earnings per share. As a group, sell-side analysts predict that First Horizon will post 1.51 EPS for the current year.

First Horizon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 9th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend is Thursday, September 8th. First Horizon's dividend payout ratio is 41.67%.

Analyst Upgrades and Downgrades

FHN has been the topic of a number of recent analyst reports. Truist Financial raised their target price on shares of First Horizon to $25.00 in a research note on Friday, June 3rd. StockNews.com downgraded shares of First Horizon from a "hold" rating to a "sell" rating in a research note on Friday, April 15th. One investment analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $22.00.

Insider Transactions at First Horizon

In related news, Chairman Daryl G. Byrd sold 99,458 shares of First Horizon stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $22.71, for a total value of $2,258,691.18. Following the sale, the chairman now owns 1,732,685 shares in the company, valued at $39,349,276.35. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Chairman Daryl G. Byrd sold 99,458 shares of First Horizon stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $22.71, for a total value of $2,258,691.18. Following the sale, the chairman now owns 1,732,685 shares in the company, valued at $39,349,276.35. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Anthony J. Restel sold 153,574 shares of First Horizon stock in a transaction on Friday, May 27th. The shares were sold at an average price of $23.01, for a total transaction of $3,533,737.74. Following the completion of the sale, the insider now owns 459,925 shares in the company, valued at approximately $10,582,874.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 385,377 shares of company stock worth $8,824,237. Insiders own 1.55% of the company's stock.