First Horizon Co. (NYSE:FHN) Receives $21.00 Average PT from Brokerages

First Horizon Co. (NYSE:FHN - Get Free Report) has received an average rating of "Moderate Buy" from the thirteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $21.00.

Several brokerages have recently issued reports on FHN. Barclays increased their price objective on First Horizon from $23.00 to $25.00 and gave the company an "overweight" rating in a research note on Friday, December 20th. Wedbush lowered First Horizon from an "outperform" rating to a "neutral" rating and reduced their price target for the company from $20.00 to $17.00 in a research report on Tuesday, September 24th. Evercore ISI boosted their price objective on First Horizon from $18.00 to $20.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. reduced their target price on shares of First Horizon from $19.00 to $18.00 and set a "neutral" rating on the stock in a report on Wednesday, October 9th. Finally, Stephens boosted their price target on shares of First Horizon from $18.00 to $20.00 and gave the stock an "overweight" rating in a report on Thursday, October 17th.

First Horizon Trading Down 1.6 %

NYSE FHN traded down $0.33 during trading on Friday, hitting $20.19. The stock had a trading volume of 4,623,028 shares, compared to its average volume of 6,552,098. The company has a market capitalization of $10.70 billion, a PE ratio of 14.63, a PEG ratio of 1.54 and a beta of 0.91. First Horizon has a twelve month low of $12.95 and a twelve month high of $21.72. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average price of $19.59 and a 200 day moving average price of $17.10.

First Horizon (NYSE:FHN - Get Free Report) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.04. First Horizon had a net margin of 15.43% and a return on equity of 9.51%. The firm had revenue of $1.32 billion during the quarter, compared to analysts' expectations of $821.63 million. During the same quarter in the previous year, the business posted $0.27 earnings per share. As a group, equities research analysts forecast that First Horizon will post 1.49 earnings per share for the current year.

First Horizon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.97%. The ex-dividend date is Friday, December 13th. First Horizon's payout ratio is 43.48%.

First Horizon announced that its board has authorized a stock buyback plan on Tuesday, October 29th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 10.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling

In other First Horizon news, EVP David T. Popwell sold 100,974 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $19.77, for a total transaction of $1,996,255.98. Following the completion of the sale, the executive vice president now directly owns 519,926 shares of the company's stock, valued at approximately $10,278,937.02. This trade represents a 16.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harry V. Barton, Jr. sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $19.92, for a total value of $199,200.00. Following the completion of the transaction, the director now directly owns 166,840 shares in the company, valued at approximately $3,323,452.80. The trade was a 5.65 % decrease in their position. The disclosure for this sale can be found here. 0.87% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On First Horizon

Several institutional investors have recently bought and sold shares of FHN. Franklin Resources Inc. boosted its holdings in shares of First Horizon by 552.9% in the third quarter. Franklin Resources Inc. now owns 273,693 shares of the financial services provider's stock valued at $4,502,000 after acquiring an additional 231,773 shares in the last quarter. Tidal Investments LLC lifted its position in First Horizon by 5.9% in the third quarter. Tidal Investments LLC now owns 66,623 shares of the financial services provider's stock valued at $1,035,000 after purchasing an additional 3,722 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in First Horizon in the 3rd quarter valued at approximately $127,000. Sanctuary Advisors LLC increased its position in First Horizon by 16.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 24,637 shares of the financial services provider's stock worth $383,000 after purchasing an additional 3,540 shares during the period. Finally, Virtu Financial LLC raised its stake in shares of First Horizon by 227.0% during the 3rd quarter. Virtu Financial LLC now owns 33,423 shares of the financial services provider's stock worth $519,000 after buying an additional 23,203 shares in the last quarter. 80.28% of the stock is owned by institutional investors and hedge funds.

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.