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.

Analyst Upgrades and Downgrades

Separately, Truist Financial raised their price target on shares of First Horizon to $25.00 in a research note on Friday, June 3rd. One research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $22.00.

First Horizon Stock Down 0.4 %

FHN Stock opened at $23.10 on Wednesday. The business's 50-day moving average price is $22.16 and its 200-day moving average price is $21.95. The stock has a market cap of $12.35 billion, a P/E ratio of 16.04, a PEG ratio of 3.00 and a beta of 1.06. First Horizon has a twelve month low of $14.67 and a twelve month high of $24.24. 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 (NYSE:FHN - Get Rating) last posted its quarterly earnings data on Tuesday, July 19th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.01). First Horizon had a net margin of 26.78% and a return on equity of 12.27%. During the same period in the previous year, the firm posted $0.58 EPS. On average, equities research analysts forecast that First Horizon will post 1.51 EPS for the current year.

First Horizon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 9th will be paid a $0.15 dividend. The ex-dividend date is Thursday, September 8th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.60%. First Horizon's payout ratio is 41.67%.

Insiders Place Their Bets

In related news, insider Anthony J. Restel sold 153,574 shares of the stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $23.01, for a total value of $3,533,737.74. Following the completion of the sale, the insider now owns 459,925 shares of the company's stock, valued at $10,582,874.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other First Horizon news, Chairman Daryl G. Byrd sold 99,458 shares of First Horizon stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $22.71, for a total transaction of $2,258,691.18. Following the completion of the sale, the chairman now directly owns 1,732,685 shares of the company's stock, valued at approximately $39,349,276.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Anthony J. Restel sold 153,574 shares of the business's stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $23.01, for a total value of $3,533,737.74. Following the completion of the transaction, 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. 1.55% of the stock is owned by corporate insiders.