Barclays Has Lowered Expectations for First Horizon (NYSE:FHN) Stock Price

First Horizon (NYSE:FHN - Free Report) had its target price cut by Barclays from $25.00 to $23.00 in a research note published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the financial services provider's stock.

FHN has been the topic of a number of other research reports. JPMorgan Chase & Co. raised their price target on shares of First Horizon from $22.50 to $23.50 and gave the company a "neutral" rating in a report on Friday, January 17th. UBS Group assumed coverage on shares of First Horizon in a research note on Tuesday, December 17th. They set a "buy" rating and a $25.00 target price for the company. StockNews.com upgraded First Horizon from a "sell" rating to a "hold" rating in a research note on Tuesday, April 8th. Bank of America lifted their price target on shares of First Horizon from $23.00 to $25.00 and gave the company a "buy" rating in a report on Friday, January 17th. Finally, Baird R W raised First Horizon from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Six analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, First Horizon presently has an average rating of "Moderate Buy" and an average target price of $22.30.

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First Horizon Trading Down 0.1 %

Shares of FHN traded down $0.02 during mid-day trading on Tuesday, hitting $16.92. 6,616,534 shares of the company's stock traded hands, compared to its average volume of 6,304,523. The business's 50-day moving average price is $19.72 and its 200-day moving average price is $19.46. First Horizon has a 1 year low of $13.72 and a 1 year high of $22.44. The firm has a market capitalization of $8.70 billion, a P/E ratio of 12.44, a PEG ratio of 1.19 and a beta of 0.60. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14.

First Horizon (NYSE:FHN - Get Free Report) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.05. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. During the same period in the previous year, the business earned $0.32 EPS. As a group, sell-side analysts forecast that First Horizon will post 1.67 EPS for the current fiscal year.

First Horizon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.60 annualized dividend and a dividend yield of 3.55%. First Horizon's dividend payout ratio (DPR) is presently 44.12%.

Insider Activity

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the company's stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $21.13, for a total value of $2,323,877.40. Following the transaction, the chief executive officer now owns 1,861,381 shares of the company's stock, valued at $39,330,980.53. This represents a 5.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.87% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Merit Financial Group LLC increased its stake in shares of First Horizon by 7.6% during the first quarter. Merit Financial Group LLC now owns 24,222 shares of the financial services provider's stock valued at $470,000 after buying an additional 1,709 shares during the period. GAMMA Investing LLC grew its holdings in First Horizon by 2,658.3% during the 1st quarter. GAMMA Investing LLC now owns 251,470 shares of the financial services provider's stock worth $4,884,000 after acquiring an additional 242,353 shares in the last quarter. Versant Capital Management Inc increased its position in First Horizon by 137.5% during the 1st quarter. Versant Capital Management Inc now owns 3,411 shares of the financial services provider's stock valued at $66,000 after purchasing an additional 1,975 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of First Horizon by 13.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 152,291 shares of the financial services provider's stock valued at $3,067,000 after purchasing an additional 17,934 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of First Horizon in the 4th quarter worth approximately $6,858,000. Hedge funds and other institutional investors own 80.28% of the company's stock.

First Horizon Company Profile

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.