First Horizon Co. (NYSE:FHN) Receives Average Rating of “Moderate Buy” from Analysts

Shares of First Horizon Co. (NYSE:FHN) have earned an average recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $18.38.

A number of research analysts recently weighed in on FHN shares. Wedbush lowered shares of First Horizon from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $20.00 to $17.00 in a research note on Tuesday, September 24th. Royal Bank of Canada boosted their price target on First Horizon from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Raymond James increased their price objective on First Horizon from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Stephens lifted their target price on shares of First Horizon from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, StockNews.com raised shares of First Horizon from a “sell” rating to a “hold” rating in a research note on Saturday, July 20th.

Insider Activity

In other news, Director Harry V. Barton, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $19.92, for a total value of $199,200.00. Following the sale, the director now directly owns 166,840 shares of the company’s stock, valued at approximately $3,323,452.80. The trade was a 5.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David T. Popwell sold 100,974 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $19.77, for a total transaction of $1,996,255.98. Following the transaction, the executive vice president now directly 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 Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FHN. CIBC Asset Management Inc raised its holdings in shares of First Horizon by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 16,330 shares of the financial services provider’s stock valued at $254,000 after buying an additional 559 shares during the period. Covestor Ltd lifted its position in shares of First Horizon by 44.0% during the third quarter. Covestor Ltd now owns 2,130 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 651 shares in the last quarter. Access Investment Management LLC lifted its position in shares of First Horizon by 0.8% during the second quarter. Access Investment Management LLC now owns 87,655 shares of the financial services provider’s stock worth $1,382,000 after purchasing an additional 715 shares in the last quarter. CreativeOne Wealth LLC boosted its stake in shares of First Horizon by 7.1% in the third quarter. CreativeOne Wealth LLC now owns 11,665 shares of the financial services provider’s stock valued at $181,000 after purchasing an additional 773 shares during the period. Finally, Simplicity Wealth LLC grew its holdings in shares of First Horizon by 2.8% in the second quarter. Simplicity Wealth LLC now owns 29,282 shares of the financial services provider’s stock valued at $462,000 after purchasing an additional 786 shares in the last quarter. 80.28% of the stock is currently owned by institutional investors and hedge funds.

First Horizon Trading Up 0.1 %

Shares of FHN stock opened at $20.16 on Friday. First Horizon has a 1-year low of $11.87 and a 1-year high of $20.53. The company has a market cap of $10.69 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 1.48 and a beta of 0.86. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95. The stock has a 50 day simple moving average of $16.75 and a 200-day simple moving average of $16.06.

First Horizon (NYSE:FHN) last posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. The company had revenue of $1.32 billion during 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 prior year, the business posted $0.27 earnings per share. On average, equities research analysts expect that First Horizon will post 1.49 EPS for the current fiscal year.

First Horizon announced that its board has approved a share buyback plan on Tuesday, October 29th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 10.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

First Horizon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors 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 annualized dividend and a yield of 2.98%. First Horizon’s payout ratio is 43.48%.

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.