First Horizon Co. (NYSE:FHN) Given Average Recommendation of "Moderate Buy" by Analysts

First Horizon Co. (NYSE:FHN - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the sixteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $22.30.

FHN has been the subject of a number of research analyst reports. Raymond James cut their target price on shares of First Horizon from $23.00 to $22.00 and set an "outperform" rating for the company in a research report on Wednesday, April 2nd. 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. Barclays lowered their target price on First Horizon from $25.00 to $23.00 and set an "overweight" rating on the stock in a report on Tuesday. StockNews.com upgraded First Horizon from a "sell" rating to a "hold" rating in a research note on Tuesday. Finally, Robert W. Baird upgraded shares of First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 price objective on the stock in a research note on Monday.

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Insider Activity

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

Hedge Funds Weigh In On First Horizon

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

First Horizon Stock Down 0.1 %

Shares of First Horizon stock traded down $0.02 on Monday, reaching $16.92. The company's stock had a trading volume of 6,616,534 shares, compared to its average volume of 6,304,523. First Horizon has a 52 week low of $13.72 and a 52 week high of $22.44. The firm's fifty day simple moving average is $19.72 and its two-hundred day simple moving average is $19.46. 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 company has a market capitalization of $8.70 billion, a price-to-earnings ratio of 12.44, a P/E/G ratio of 1.19 and a beta of 0.60.

First Horizon (NYSE:FHN - Get Free Report) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 EPS 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 prior year, the business posted $0.32 earnings per share. Equities analysts anticipate that First Horizon will post 1.67 earnings per share for the current year.

First Horizon Dividend Announcement

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

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.