First Horizon Co. (NYSE:FHN) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of First Horizon Co. (NYSE:FHN) have been assigned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $22.23.

A number of research analysts have issued reports on the stock. Wells Fargo & Company increased their target price on shares of First Horizon from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. Keefe, Bruyette & Woods upped their price target on shares of First Horizon from $23.00 to $24.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Citigroup upped their price target on shares of First Horizon from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, February 28th. The Goldman Sachs Group upped their price target on shares of First Horizon from $18.50 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Finally, Barclays upped their price target on shares of First Horizon from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, December 20th.

First Horizon Trading Down 0.9 %

Shares of NYSE:FHN opened at $18.86 on Thursday. The company’s 50-day moving average price is $20.91 and its two-hundred day moving average price is $19.14. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95. First Horizon has a one year low of $13.72 and a one year high of $22.44. The stock has a market capitalization of $9.84 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 1.19 and a beta of 0.86.

First Horizon (NYSE:FHN) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.05. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. During the same quarter last year, the firm posted $0.32 EPS. On average, equities analysts forecast that First Horizon will post 1.67 EPS for the current fiscal year.

First Horizon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.60 annualized dividend and a dividend yield of 3.18%. First Horizon’s payout ratio is 44.12%.

Insider Transactions at First Horizon

In related news, CEO D Bryan Jordan sold 109,980 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $21.13, for a total transaction of $2,323,877.40. Following the completion of the transaction, the chief executive officer now owns 1,861,381 shares of the company’s stock, valued at approximately $39,330,980.53. The trade was a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On First Horizon

Several hedge funds have recently bought and sold shares of FHN. Versant Capital Management Inc lifted its holdings in shares of First Horizon by 160.1% in the 4th quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 884 shares during the last quarter. Jones Financial Companies Lllp bought a new stake in First Horizon during the 4th quarter valued at $30,000. Kentucky Trust Co bought a new stake in First Horizon during the 4th quarter valued at $32,000. Covestor Ltd increased its position in First Horizon by 44.0% during the 3rd quarter. Covestor Ltd now owns 2,130 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 651 shares during the period. Finally, True Wealth Design LLC purchased a new position in First Horizon during the 3rd quarter valued at $36,000. 80.28% of the stock is currently owned by institutional investors.

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.