First Horizon Co. (NYSE:FHN) Plans $0.15 Quarterly Dividend

First Horizon Co. (NYSE:FHN - Get Free Report) declared a quarterly dividend on Tuesday, October 29th, RTT News reports. Stockholders of record on Friday, December 13th will be paid a dividend of 0.15 per share by the financial services provider on Thursday, January 2nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.47%.

First Horizon has a dividend payout ratio of 38.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect First Horizon to earn $1.55 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 38.7%.

First Horizon Stock Performance

Shares of First Horizon stock traded down $0.08 during trading on Tuesday, reaching $17.30. The company's stock had a trading volume of 4,397,421 shares, compared to its average volume of 6,575,025. The company has a 50-day moving average price of $16.10 and a two-hundred day moving average price of $15.69. The firm has a market cap of $9.46 billion, a PE ratio of 12.16, a P/E/G ratio of 1.30 and a beta of 0.88. First Horizon has a fifty-two week low of $10.50 and a fifty-two week high of $17.68. The company has a current ratio of 1.84, 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 EPS for the quarter, beating analysts' consensus estimates of $0.38 by $0.04. The business had revenue of $1.32 billion for the quarter, compared to analysts' expectations of $821.63 million. First Horizon had a net margin of 15.43% and a return on equity of 9.51%. During the same period in the previous year, the company posted $0.27 EPS. On average, analysts forecast that First Horizon will post 1.48 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. StockNews.com raised shares of First Horizon from a "sell" rating to a "hold" rating in a research note on Saturday, July 20th. Royal Bank of Canada boosted their price objective on shares of First Horizon from $19.00 to $20.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Stephens boosted their price objective on shares of First Horizon from $18.00 to $20.00 and gave the company an "overweight" rating in a research note on Thursday, October 17th. Wedbush cut shares of First Horizon from an "outperform" rating to a "neutral" rating and dropped their price objective for the company from $20.00 to $17.00 in a research note on Tuesday, September 24th. Finally, Barclays upped their price target on shares of First Horizon from $19.00 to $21.00 and gave the stock an "overweight" rating in a research note on Thursday, October 17th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $17.77.

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.

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