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 Ratings Changes

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

First Horizon Price Performance

Shares of NYSE:FHN opened at $22.88 on Tuesday. The business's fifty day moving average price is $22.12 and its two-hundred day moving average price is $21.74. The stock has a market cap of $12.23 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 2.98 and a beta of 1.06. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.94 and a current ratio of 0.95. First Horizon has a one year low of $14.67 and a one year high of $24.24.

First Horizon (NYSE:FHN - Get Rating) last announced its earnings results on Tuesday, July 19th. The financial services provider reported $0.34 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 last year, the firm posted $0.58 EPS. On average, analysts forecast that First Horizon will post 1.51 EPS for the current fiscal year.

First Horizon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 9th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.62%. The ex-dividend date is Thursday, September 8th. First Horizon's dividend payout ratio (DPR) is 41.67%.

Insider Transactions at First Horizon

In other news, insider Anthony J. Restel sold 153,574 shares of the firm's stock in a transaction on Friday, May 27th. The stock was sold at an average price of $23.01, for a total transaction of $3,533,737.74. Following the sale, the insider now owns 459,925 shares in the company, valued at $10,582,874.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Anthony J. Restel sold 153,574 shares of the firm's stock in a transaction on Friday, May 27th. The stock was sold at an average price of $23.01, for a total transaction of $3,533,737.74. Following the sale, the insider now owns 459,925 shares in the company, valued at $10,582,874.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Daryl G. Byrd sold 21,572 shares of the firm's stock in a transaction on Monday, June 6th. The stock was sold at an average price of $22.90, for a total value of $493,998.80. Following the sale, the chairman now owns 1,732,685 shares in the company, valued at approximately $39,678,486.50. The disclosure for this sale can be found here. Insiders have sold 385,377 shares of company stock worth $8,824,237 over the last quarter. 1.55% of the stock is currently owned by insiders.