First Horizon Co. (NYSE:FHN – Get Free Report) was the target of a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 5,950,000 shares, a growth of 20.9% from the September 15th total of 4,920,000 shares. Based on an average daily trading volume, of 5,900,000 shares, the days-to-cover ratio is presently 1.0 days. Approximately 1.1% of the shares of the company are sold short.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on FHN. Robert W. Baird reissued a “neutral” rating and set a $16.00 target price on shares of First Horizon in a research report on Tuesday, August 6th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $18.00 target price on shares of First Horizon in a research note on Wednesday, July 17th. Royal Bank of Canada raised their target price on First Horizon from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Jefferies Financial Group upped their price target on First Horizon from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Finally, Raymond James downgraded shares of First Horizon from a “strong-buy” rating to an “outperform” rating and set a $18.00 price objective on the stock. in a research note on Thursday, July 18th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, First Horizon presently has a consensus rating of “Moderate Buy” and an average price target of $17.38.
View Our Latest Stock Report on First Horizon
Institutional Investors Weigh In On First Horizon
First Horizon Stock Up 1.6 %
FHN opened at $16.71 on Wednesday. The company has a market capitalization of $9.14 billion, a P/E ratio of 11.69, a P/E/G ratio of 1.27 and a beta of 0.88. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. The firm’s fifty day moving average price is $15.73 and its two-hundred day moving average price is $15.53. First Horizon has a fifty-two week low of $10.16 and a fifty-two week high of $17.46.
First Horizon (NYSE:FHN – Get Free Report) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $819.82 million. First Horizon had a return on equity of 8.84% and a net margin of 14.03%. During the same period in the previous year, the business posted $0.39 earnings per share. On average, analysts anticipate that First Horizon will post 1.46 EPS for the current year.
First Horizon Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date was Friday, September 13th. First Horizon’s dividend payout ratio is 41.96%.
About First Horizon
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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