First Horizon Co. (NYSE:FHN) Receives $21.00 Consensus Target Price from Brokerages

Shares of First Horizon Co. (NYSE:FHNGet Free Report) have received an average rating of “Moderate Buy” from the thirteen research firms that are currently covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $21.00.

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. cut their target price on First Horizon from $19.00 to $18.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. UBS Group began coverage on shares of First Horizon in a research report on Tuesday, December 17th. They set a “buy” rating and a $25.00 price objective on the stock. Robert W. Baird set a $17.00 target price on shares of First Horizon in a report on Thursday, October 17th. Raymond James increased their price target on shares of First Horizon from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Royal Bank of Canada raised their price target on shares of First Horizon from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th.

View Our Latest Stock Analysis on First Horizon

First Horizon Price Performance

Shares of FHN stock opened at $20.14 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. The stock has a market cap of $10.68 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 1.54 and a beta of 0.91. The business’s fifty day moving average is $19.77 and its 200 day moving average is $17.21. First Horizon has a twelve month low of $12.95 and a twelve month high of $21.72.

First Horizon (NYSE:FHNGet Free Report) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. First Horizon had a return on equity of 9.51% and a net margin of 15.43%. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $821.63 million. During the same period in the previous year, the firm posted $0.27 EPS. 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 repurchase plan on Tuesday, October 29th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 10.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.

First Horizon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid 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 2.98%. First Horizon’s dividend payout ratio (DPR) is currently 43.48%.

Insider Buying and Selling at First Horizon

In other First Horizon news, Director Harry V. Barton, Jr. sold 10,000 shares of the company’s 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 completion of the sale, the director now owns 166,840 shares in the company, valued at $3,323,452.80. This represents a 5.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP David T. Popwell sold 100,974 shares of First Horizon stock in a transaction dated 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 transaction, the executive vice president now directly owns 519,926 shares in the company, valued at approximately $10,278,937.02. The trade was a 16.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.87% of the stock is owned by corporate insiders.

Institutional Trading of First Horizon

Several institutional investors and hedge funds have recently modified their holdings of the company. Citigroup Inc. grew its position in shares of First Horizon by 43.0% during the third quarter. Citigroup Inc. now owns 948,122 shares of the financial services provider’s stock valued at $14,724,000 after purchasing an additional 285,108 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of First Horizon by 13.1% during the third quarter. Los Angeles Capital Management LLC now owns 868,094 shares of the financial services provider’s stock valued at $13,482,000 after purchasing an additional 100,359 shares during the period. Allen Capital Group LLC boosted its holdings in shares of First Horizon by 128.4% in the third quarter. Allen Capital Group LLC now owns 52,612 shares of the financial services provider’s stock valued at $817,000 after purchasing an additional 29,581 shares during the period. Greenwood Capital Associates LLC increased its stake in shares of First Horizon by 10.1% during the third 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 during the period. Finally, Entropy Technologies LP bought a new stake in shares of First Horizon in the 3rd quarter valued at about $2,669,000. 80.28% of the stock is currently owned by institutional investors.

First Horizon Company Profile

(Get Free Report

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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Analyst Recommendations for First Horizon (NYSE:FHN)

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