First Horizon Co. (NYSE:FHN) Receives $22.23 Average PT from Analysts

First Horizon Co. (NYSE:FHN - Get Free Report) has earned an average recommendation of "Moderate Buy" from the fifteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $22.23.

Several brokerages recently commented on FHN. JPMorgan Chase & Co. lifted their price objective on First Horizon from $22.50 to $23.50 and gave the stock a "neutral" rating in a report on Friday, January 17th. UBS Group began coverage on First Horizon in a research report on Tuesday, December 17th. They issued a "buy" rating and a $25.00 price objective on the stock. Wells Fargo & Company raised their target price on shares of First Horizon from $21.00 to $22.00 and gave the company an "equal weight" rating in a research note on Friday, January 17th. Citigroup raised their price target on First Horizon from $24.00 to $25.00 and gave the company a "buy" rating in a report on Friday, February 28th. Finally, Bank of America upped their target price on shares of First Horizon from $23.00 to $25.00 and gave the company a "buy" rating in a research report on Friday, January 17th.

First Horizon Price Performance

NYSE:FHN traded down $0.27 during mid-day trading on Thursday, reaching $18.47. The stock had a trading volume of 6,455,629 shares, compared to its average volume of 6,477,861. The firm has a 50 day moving average price of $21.00 and a two-hundred day moving average price of $19.07. First Horizon has a one year low of $13.72 and a one year high of $22.44. The stock has a market capitalization of $9.63 billion, a P/E ratio of 13.58, a P/E/G ratio of 1.19 and a beta of 0.86. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96.

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First Horizon (NYSE:FHN - Get Free Report) last released its earnings results on Thursday, January 16th. The financial services provider reported $0.43 EPS for the quarter, beating analysts' consensus estimates 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 firm posted $0.32 earnings per share. As a group, analysts expect that First Horizon will post 1.67 earnings per share for the current year.

First Horizon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Friday, March 14th. First Horizon's dividend payout ratio (DPR) is currently 44.12%.

Insider Buying and Selling at First Horizon

In related news, CEO D Bryan Jordan sold 109,980 shares of First Horizon stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 1,861,381 shares in the company, valued at $39,330,980.53. The trade was a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.87% of the stock is currently owned by company insiders.

Institutional Trading of First Horizon

Institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc raised its holdings in First Horizon by 160.1% during the fourth quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider's stock worth $29,000 after purchasing an additional 884 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of First Horizon in the 4th quarter worth about $30,000. Kentucky Trust Co acquired a new stake in First Horizon in the 4th quarter valued at about $32,000. Covestor Ltd increased its holdings in First Horizon by 44.0% during the 3rd quarter. Covestor Ltd now owns 2,130 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 651 shares in the last quarter. Finally, True Wealth Design LLC purchased a new stake in shares of First Horizon in the third quarter valued at about $36,000. 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.