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

First Horizon Co. (NYSE:FHN - Get Free Report) has earned an average recommendation of "Moderate Buy" from the thirteen brokerages that are covering the company, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $17.38.

Several brokerages have recently weighed in on FHN. Evercore ISI lowered their target price on First Horizon from $19.50 to $18.50 and set an "outperform" rating for the company in a research note on Tuesday. StockNews.com upgraded First Horizon from a "sell" rating to a "hold" rating in a research note on Saturday, July 20th. Jefferies Financial Group raised their target price on First Horizon from $17.00 to $18.00 and gave the company a "buy" rating in a research note on Wednesday, July 3rd. Raymond James downgraded First Horizon from a "strong-buy" rating to an "outperform" rating and set a $18.00 price target for the company. in a research note on Thursday, July 18th. Finally, Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $18.00 price target on shares of First Horizon in a research note on Wednesday, July 17th.

First Horizon Stock Up 2.5 %

Shares of First Horizon stock traded up $0.40 during trading hours on Thursday, hitting $16.16. 9,772,647 shares of the company's stock traded hands, compared to its average volume of 6,519,482. The stock has a 50 day simple moving average of $15.99 and a 200-day simple moving average of $15.43. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. The company has a market cap of $8.84 billion, a PE ratio of 11.30, a PEG ratio of 3.09 and a beta of 0.88. First Horizon has a twelve month low of $10.08 and a twelve month high of $17.46.

First Horizon (NYSE:FHN - Get Free Report) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $819.82 million. First Horizon had a net margin of 14.03% and a return on equity of 8.84%. During the same quarter in the prior year, the business earned $0.39 earnings per share. Equities research analysts anticipate that First Horizon will post 1.46 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a $0.15 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.60 dividend on an annualized basis and a yield of 3.71%. First Horizon's payout ratio is currently 41.96%.

Hedge Funds Weigh In On First Horizon

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rise Advisors LLC acquired a new position in First Horizon in the first quarter valued at approximately $25,000. Raleigh Capital Management Inc. acquired a new position in First Horizon in the fourth quarter valued at approximately $28,000. Fidelis Capital Partners LLC acquired a new position in First Horizon in the first quarter valued at approximately $28,000. Family Firm Inc. acquired a new position in First Horizon in the second quarter valued at approximately $28,000. Finally, Nemes Rush Group LLC boosted its stake in First Horizon by 306.2% in the second quarter. Nemes Rush Group LLC now owns 1,828 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 1,378 shares during the period. 80.28% of the stock is currently owned by institutional investors and hedge funds.

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.