First Horizon Co. (NYSE:FHN) Receives $16.15 Consensus Price Target from Brokerages

Shares of First Horizon Co. (NYSE:FHN) have earned an average recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $16.15.

Several research analysts recently issued reports on FHN shares. Royal Bank of Canada upgraded shares of First Horizon from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $16.00 to $18.00 in a research report on Tuesday, April 9th. Raymond James raised shares of First Horizon from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $13.00 to $17.00 in a research note on Friday, January 5th. Keefe, Bruyette & Woods raised shares of First Horizon from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $16.00 to $18.00 in a research note on Friday, April 5th. StockNews.com raised shares of First Horizon from a “sell” rating to a “hold” rating in a research note on Friday, April 19th. Finally, JPMorgan Chase & Co. raised their price target on First Horizon from $16.00 to $17.50 and gave the company a “neutral” rating in a report on Thursday, April 4th.

First Horizon Stock Up 0.1 %

FHN opened at $14.81 on Monday. The firm’s 50-day simple moving average is $14.64 and its 200-day simple moving average is $13.52. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.95 and a current ratio of 0.96. First Horizon has a twelve month low of $8.99 and a twelve month high of $17.82. The firm has a market cap of $8.22 billion, a price-to-earnings ratio of 10.36, a PEG ratio of 4.10 and a beta of 0.94.

First Horizon (NYSE:FHN) last posted its earnings results on Wednesday, April 17th. The financial services provider reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. First Horizon had a net margin of 16.07% and a return on equity of 8.96%. The business had revenue of $819.00 million for the quarter, compared to analyst estimates of $809.51 million. During the same quarter in the prior year, the firm earned $0.46 EPS. The firm’s quarterly revenue was down 4.7% compared to the same quarter last year. Equities research analysts anticipate that First Horizon will post 1.5 EPS for the current fiscal year.

First Horizon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, June 14th. This represents a $0.60 annualized dividend and a yield of 4.05%. First Horizon’s dividend payout ratio (DPR) is currently 41.96%.

First Horizon declared that its Board of Directors has initiated a share repurchase plan on Tuesday, January 23rd that allows the company to repurchase $650.00 million in shares. This repurchase authorization allows the financial services provider to buy up to 7.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FHN. Macroview Investment Management LLC bought a new position in First Horizon in the 3rd quarter valued at $25,000. Rise Advisors LLC bought a new position in First Horizon in the 1st quarter valued at $25,000. Raleigh Capital Management Inc. bought a new position in First Horizon in the 4th quarter valued at $28,000. Fortitude Family Office LLC grew its stake in First Horizon by 129.3% in the 1st quarter. Fortitude Family Office LLC now owns 1,954 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 1,102 shares during the period. Finally, Richardson Financial Services Inc. bought a new position in First Horizon in the 4th quarter valued at $35,000. Institutional investors own 80.28% of the company’s stock.

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.