First Horizon Co. (NYSE:FHN – Get Free Report) declared a quarterly dividend on Tuesday, April 23rd, RTT News reports. Investors of record on Friday, June 14th will be given 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 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 Trading Down 0.2 %
NYSE FHN opened at $14.88 on Wednesday. The stock has a market capitalization of $8.26 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 4.10 and a beta of 0.94. First Horizon has a 52 week low of $8.99 and a 52 week high of $18.52. The stock’s 50 day moving average price is $14.59 and its two-hundred day moving average price is $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.
Wall Street Analyst Weigh In
FHN has been the subject of several recent research reports. Wells Fargo & Company increased their price target on First Horizon from $14.00 to $16.00 and gave the company an “equal weight” rating in a research 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 target price for the stock from $16.00 to $18.00 in a report on Tuesday, April 9th. Keefe, Bruyette & Woods upgraded shares of First Horizon from a “market perform” rating to an “outperform” rating and increased their price target for the company from $16.00 to $18.00 in a research note on Friday, April 5th. Barclays assumed coverage on shares of First Horizon in a research report on Friday, March 8th. They issued an “overweight” rating and a $18.00 price objective for the company. Finally, StockNews.com raised shares of First Horizon from a “sell” rating to a “hold” rating in a report on Friday, April 19th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.15.
Read Our Latest Stock Analysis on First Horizon
First Horizon announced that its board has initiated a share repurchase plan on Tuesday, January 23rd that authorizes the company to repurchase $650.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 7.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
About First Horizon
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.
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