Raymond James Has Lowered Expectations for First Horizon (NYSE:FHN) Stock Price

First Horizon (NYSE:FHN - Free Report) had its price target cut by Raymond James from $23.00 to $22.00 in a report published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the financial services provider's stock.

Other equities research analysts also recently issued research reports about the company. UBS Group assumed coverage on First Horizon in a research report on Tuesday, December 17th. They issued a "buy" rating and a $25.00 price objective for the company. Citigroup raised their price target on First Horizon from $24.00 to $25.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Barclays upped their price objective on shares of First Horizon from $23.00 to $25.00 and gave the company an "overweight" rating in a research note on Friday, December 20th. Keefe, Bruyette & Woods raised their target price on shares of First Horizon from $23.00 to $24.00 and gave the stock a "market perform" rating in a research report on Thursday, December 19th. Finally, StockNews.com lowered shares of First Horizon from a "hold" rating to a "sell" rating in a research report on Monday, March 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $22.57.

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First Horizon Price Performance

FHN stock traded up $0.01 during trading on Wednesday, hitting $16.22. The stock had a trading volume of 6,184,009 shares, compared to its average volume of 6,233,812. The stock has a market cap of $8.34 billion, a price-to-earnings ratio of 11.92, a price-to-earnings-growth ratio of 1.19 and a beta of 0.60. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96. The company's 50 day moving average price is $20.36 and its two-hundred day moving average price is $19.45. First Horizon has a 1-year low of $13.72 and a 1-year high of $22.44.

First Horizon (NYSE:FHN - Get Free Report) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.05. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. During the same period last year, the firm earned $0.32 earnings per share. On average, sell-side analysts forecast that First Horizon will post 1.67 EPS for the current fiscal year.

First Horizon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a dividend of $0.15 per share. The ex-dividend date was Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.70%. First Horizon's dividend payout ratio is currently 44.12%.

Insider Transactions at First Horizon

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the firm's stock in a transaction that occurred on Wednesday, January 22nd. The stock was 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 owns 1,861,381 shares in the company, valued at $39,330,980.53. This trade represents a 5.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.87% of the company's stock.

Hedge Funds Weigh In On First Horizon

Institutional investors and hedge funds have recently made changes to their positions in the business. Townsquare Capital LLC bought a new position in First Horizon during the 3rd quarter valued at $231,000. CreativeOne Wealth LLC lifted its position in shares of First Horizon by 7.1% during the third quarter. CreativeOne Wealth LLC now owns 11,665 shares of the financial services provider's stock worth $181,000 after purchasing an additional 773 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in First Horizon by 2.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 115,708 shares of the financial services provider's stock valued at $1,797,000 after buying an additional 2,707 shares during the last quarter. Captrust Financial Advisors increased its holdings in First Horizon by 3.1% in the third quarter. Captrust Financial Advisors now owns 169,654 shares of the financial services provider's stock valued at $2,635,000 after buying an additional 5,022 shares during the last quarter. Finally, Paloma Partners Management Co bought a new position in First Horizon during the 3rd quarter worth approximately $398,000. 80.28% of the stock is currently owned by hedge funds and other institutional investors.

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.