First Horizon Corporation (NYSE:FHN) Receives $26.45 Average Price Target from Analysts

First Horizon Corporation (NYSE:FHN) has been given a consensus rating of “Hold” by the twenty-one analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $27.1250.

A number of brokerages recently issued reports on FHN. Weiss Ratings upgraded shares of First Horizon from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 8th. Wells Fargo & Company lifted their price target on shares of First Horizon from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Monday. JPMorgan Chase & Co. raised their target price on shares of First Horizon from $26.00 to $28.50 and gave the company a “neutral” rating in a research note on Wednesday, July 1st. Wall Street Zen lowered shares of First Horizon from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Finally, UBS Group cut shares of First Horizon from a “buy” rating to a “neutral” rating and decreased their price target for the company from $29.00 to $25.00 in a report on Tuesday, April 7th.

First Horizon Stock Down 0.3%

Shares of First Horizon stock opened at $25.77 on Wednesday. The stock’s fifty day moving average is $24.63 and its 200-day moving average is $24.21. The firm has a market capitalization of $12.23 billion, a PE ratio of 12.89, a price-to-earnings-growth ratio of 1.01 and a beta of 0.60. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.15. First Horizon has a 12-month low of $19.80 and a 12-month high of $26.56.

First Horizon (NYSE:FHN) last released its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. The business had revenue of $865.00 million during the quarter, compared to analyst estimates of $869.49 million. First Horizon had a return on equity of 11.65% and a net margin of 20.54%.First Horizon’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter last year, the company posted $0.42 EPS. Equities analysts anticipate that First Horizon will post 2.16 earnings per share for the current year.

First Horizon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th were paid a $0.17 dividend. The ex-dividend date was Friday, June 12th. This represents a $0.68 annualized dividend and a dividend yield of 2.6%. First Horizon’s dividend payout ratio (DPR) is presently 34.00%.

Hedge Funds Weigh In On First Horizon

Several large investors have recently bought and sold shares of the stock. Bessemer Group Inc. lifted its stake in shares of First Horizon by 0.3% in the first quarter. Bessemer Group Inc. now owns 138,920 shares of the financial services provider’s stock valued at $3,162,000 after buying an additional 425 shares during the period. Thoroughbred Financial Services LLC grew its holdings in shares of First Horizon by 3.4% during the 4th quarter. Thoroughbred Financial Services LLC now owns 14,055 shares of the financial services provider’s stock worth $335,000 after purchasing an additional 457 shares in the last quarter. Illinois Municipal Retirement Fund boosted its stake in First Horizon by 0.7% during the fourth quarter. Illinois Municipal Retirement Fund now owns 68,661 shares of the financial services provider’s stock worth $1,641,000 after buying an additional 489 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of First Horizon by 1.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 40,296 shares of the financial services provider’s stock valued at $963,000 after buying an additional 507 shares in the last quarter. Finally, Aaron Wealth Advisors LLC lifted its holdings in shares of First Horizon by 5.4% during the 4th quarter. Aaron Wealth Advisors LLC now owns 9,905 shares of the financial services provider’s stock worth $237,000 after acquiring an additional 511 shares during the period. 80.28% of the stock is currently owned by institutional investors and hedge funds.

First Horizon Company Profile

First Horizon Corporation, headquartered in Memphis, Tennessee, is a diversified financial services company providing an array of retail, commercial and wealth management solutions. As the largest bank-based financial services firm in Tennessee, First Horizon operates through a network of branches and digital platforms across the Southeastern United States, offering personal and business banking, mortgage origination and servicing, payment solutions and treasury management services.

Tracing its origins to the First National Bank of Memphis established in 1864, First Horizon has grown through strategic acquisitions and organic expansion to serve customers in Tennessee, Texas, North Carolina, South Carolina, Georgia and Florida.