First Horizon Co. (NYSE:FHN) Receives Average Rating of "Moderate Buy" from Brokerages

Shares of First Horizon Co. (NYSE:FHN - Get Free Report) have received an average rating of "Moderate Buy" from the thirteen ratings firms that are covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $18.38.

FHN has been the topic of a number of recent analyst reports. 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 note on Wednesday, October 30th. Robert W. Baird set a $17.00 price target on shares of First Horizon in a research report on Thursday, October 17th. Stephens raised their price objective on shares of First Horizon from $18.00 to $20.00 and gave the company an "overweight" rating in a research report on Thursday, October 17th. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $18.00 target price on shares of First Horizon in a research report on Wednesday, July 17th. Finally, Wedbush cut shares of First Horizon from an "outperform" rating to a "neutral" rating and decreased their price target for the company from $20.00 to $17.00 in a research note on Tuesday, September 24th.

Hedge Funds Weigh In On First Horizon

Institutional investors and hedge funds have recently modified their holdings of the business. Prospera Financial Services Inc lifted its position in First Horizon by 56.9% in the 3rd quarter. Prospera Financial Services Inc now owns 46,504 shares of the financial services provider's stock valued at $722,000 after acquiring an additional 16,872 shares in the last quarter. Quest Partners LLC raised its stake in shares of First Horizon by 133.6% in the 3rd quarter. Quest Partners LLC now owns 161,046 shares of the financial services provider's stock valued at $2,501,000 after purchasing an additional 92,106 shares during the period. AMG National Trust Bank lifted its holdings in shares of First Horizon by 106.0% in the third quarter. AMG National Trust Bank now owns 91,620 shares of the financial services provider's stock valued at $1,423,000 after purchasing an additional 47,152 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of First Horizon by 106.5% during the third quarter. Thrivent Financial for Lutherans now owns 622,481 shares of the financial services provider's stock worth $9,668,000 after buying an additional 321,098 shares during the period. Finally, CIBC Asset Management Inc grew its holdings in shares of First Horizon by 3.5% during the third quarter. CIBC Asset Management Inc now owns 16,330 shares of the financial services provider's stock worth $254,000 after buying an additional 559 shares in the last quarter. 80.28% of the stock is currently owned by institutional investors and hedge funds.

First Horizon Price Performance

Shares of First Horizon stock traded up $0.08 during mid-day trading on Friday, reaching $19.69. 7,643,729 shares of the stock were exchanged, compared to its average volume of 6,628,967. The company has a market cap of $10.55 billion, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 1.27 and a beta of 0.86. First Horizon has a fifty-two week low of $10.96 and a fifty-two week high of $20.11. The company has a current ratio of 1.84, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The firm has a 50-day simple moving average of $16.37 and a 200 day simple moving average of $15.88.

First Horizon (NYSE:FHN - Get Free Report) last posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.04. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $821.63 million. First Horizon had a net margin of 15.43% and a return on equity of 9.51%. During the same quarter last year, the business posted $0.27 earnings per share. On average, sell-side analysts predict that First Horizon will post 1.48 EPS for the current fiscal year.

First Horizon declared that its Board of Directors has authorized a share repurchase program on Tuesday, October 29th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 10.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

First Horizon Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Friday, December 13th. First Horizon's dividend payout ratio (DPR) is currently 43.48%.

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.