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

First Horizon Co. (NYSE:FHN - Get Free Report) has received an average rating of "Moderate Buy" from the thirteen analysts that are presently covering the stock, Marketbeat.com 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 1 year price target among brokers that have issued ratings on the stock in the last year is $19.46.

FHN has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered their target price on shares of First Horizon from $19.00 to $18.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 9th. The Goldman Sachs Group raised their price target on First Horizon from $18.50 to $23.00 and gave the company a "neutral" rating in a research report on Tuesday, November 26th. Royal Bank of Canada boosted their price objective on First Horizon from $19.00 to $20.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. Stephens increased their target price on First Horizon from $18.00 to $20.00 and gave the company an "overweight" rating in a research note on Thursday, October 17th. Finally, Wedbush downgraded First Horizon from an "outperform" rating to a "neutral" rating and dropped their price target for the stock from $20.00 to $17.00 in a research report on Tuesday, September 24th.

First Horizon Stock Down 0.5 %

NYSE FHN traded down $0.11 during trading on Tuesday, hitting $20.62. 3,270,259 shares of the company traded hands, compared to its average volume of 6,549,806. The company has a market capitalization of $10.93 billion, a P/E ratio of 14.94, a PEG ratio of 1.55 and a beta of 0.91. The business has a fifty day simple moving average of $17.95 and a 200 day simple moving average of $16.49. First Horizon has a 12 month low of $12.95 and a 12 month high of $21.72. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14.

First Horizon (NYSE:FHN - Get Free Report) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.04. First Horizon had a return on equity of 9.51% and a net margin of 15.43%. 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 prior year, the business earned $0.27 earnings per share. As a group, sell-side analysts predict that First Horizon will post 1.49 EPS for the current year.

First Horizon declared that its board has approved a stock buyback program on Tuesday, October 29th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 10.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

First Horizon Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders 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 dividend yield of 2.91%. The ex-dividend date of this dividend is Friday, December 13th. First Horizon's payout ratio is 43.48%.

Insider Buying and Selling at First Horizon

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

Institutional Trading of First Horizon

Several large investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its stake in shares of First Horizon by 5.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 309,493 shares of the financial services provider's stock valued at $4,767,000 after purchasing an additional 17,329 shares during the last quarter. Tidal Investments LLC bought a new stake in shares of First Horizon during the first quarter worth $207,000. Cetera Advisors LLC lifted its stake in shares of First Horizon by 54.6% during the first quarter. Cetera Advisors LLC now owns 28,590 shares of the financial services provider's stock valued at $440,000 after acquiring an additional 10,103 shares during the period. GAMMA Investing LLC boosted its holdings in First Horizon by 30.8% in the second quarter. GAMMA Investing LLC now owns 6,535 shares of the financial services provider's stock valued at $103,000 after acquiring an additional 1,538 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in First Horizon by 270.0% in the second quarter. Harbor Capital Advisors Inc. now owns 46,608 shares of the financial services provider's stock worth $735,000 after purchasing an additional 34,011 shares during the period. 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.