Barclays Boosts First Horizon (NYSE:FHN) Price Target to $25.00

First Horizon (NYSE:FHN - Free Report) had its price target raised by Barclays from $23.00 to $25.00 in a research note released on Friday morning,Benzinga reports. They currently have an overweight rating on the financial services provider's stock.

Other research analysts have also issued research reports about the stock. Evercore ISI upped their price target on shares of First Horizon from $18.00 to $20.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Royal Bank of Canada upped their target price on First Horizon from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Wednesday, December 11th. Wedbush cut 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 report on Tuesday, September 24th. Stephens upped their price objective on First Horizon from $18.00 to $20.00 and gave the company an "overweight" rating in a report on Thursday, October 17th. Finally, UBS Group assumed coverage on First Horizon in a research report on Tuesday. They set a "buy" rating and a $25.00 price objective on the stock. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, First Horizon presently has a consensus rating of "Moderate Buy" and an average price target of $21.00.

First Horizon Stock Up 3.5 %

FHN traded up $0.67 during trading hours on Friday, hitting $19.94. 19,423,340 shares of the company's stock were exchanged, compared to its average volume of 6,600,054. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. First Horizon has a 1-year low of $12.95 and a 1-year high of $21.72. The stock's 50-day moving average is $19.20 and its two-hundred day moving average is $16.88. The stock has a market cap of $10.57 billion, a price-to-earnings ratio of 14.45, a PEG ratio of 1.54 and a beta of 0.91.

First Horizon (NYSE:FHN - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $1.32 billion for the quarter, compared to analysts' expectations of $821.63 million. First Horizon had a return on equity of 9.51% and a net margin of 15.43%. During the same quarter in the prior year, the business posted $0.27 EPS. Sell-side analysts predict that First Horizon will post 1.49 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a $0.15 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.01%. First Horizon's dividend payout ratio (DPR) is currently 43.48%.

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

Insider Activity

In other news, Director Harry V. Barton, Jr. sold 10,000 shares of First Horizon stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $19.92, for a total value of $199,200.00. Following the transaction, the director now owns 166,840 shares in the company, valued at approximately $3,323,452.80. The trade was a 5.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David T. Popwell sold 100,974 shares of the business's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $19.77, for a total value of $1,996,255.98. Following the completion of the sale, the executive vice president now owns 519,926 shares of the company's stock, valued at $10,278,937.02. The trade was a 16.26 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.87% of the company's stock.

Institutional Investors Weigh In On First Horizon

Large investors have recently made changes to their positions in the business. Citigroup Inc. raised its position in shares of First Horizon by 43.0% in the 3rd quarter. Citigroup Inc. now owns 948,122 shares of the financial services provider's stock worth $14,724,000 after acquiring an additional 285,108 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in First Horizon by 13.1% in the third quarter. Los Angeles Capital Management LLC now owns 868,094 shares of the financial services provider's stock worth $13,482,000 after purchasing an additional 100,359 shares in the last quarter. Allen Capital Group LLC lifted its position in First Horizon by 128.4% during the third quarter. Allen Capital Group LLC now owns 52,612 shares of the financial services provider's stock valued at $817,000 after buying an additional 29,581 shares during the period. Greenwood Capital Associates LLC boosted its holdings in shares of First Horizon by 10.1% during the 3rd quarter. Greenwood Capital Associates LLC now owns 465,513 shares of the financial services provider's stock valued at $7,229,000 after buying an additional 42,793 shares in the last quarter. Finally, Entropy Technologies LP purchased a new stake in shares of First Horizon in the 3rd quarter worth about $2,669,000. 80.28% of the stock is currently owned by 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.