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

First Horizon Co. (NYSE:FHNGet Free Report) has earned an average rating of “Moderate Buy” from the thirteen brokerages that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $17.15.

Several equities research analysts recently commented on the company. Jefferies Financial Group upped their target price on First Horizon from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Stephens initiated coverage on shares of First Horizon in a research report on Thursday, May 23rd. They set an “overweight” rating and a $19.00 price objective for the company. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $18.00 target price on shares of First Horizon in a research report on Tuesday, June 11th. StockNews.com upgraded shares of First Horizon from a “sell” rating to a “hold” rating in a report on Thursday, July 4th. Finally, Evercore ISI dropped their price objective on shares of First Horizon from $18.50 to $17.50 and set an “outperform” rating on the stock in a report on Tuesday, June 25th.

View Our Latest Report on FHN

First Horizon Stock Performance

Shares of FHN stock opened at $15.69 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.95. First Horizon has a one year low of $10.08 and a one year high of $16.28. The business’s 50 day simple moving average is $15.42 and its 200 day simple moving average is $14.77. The stock has a market capitalization of $8.58 billion, a PE ratio of 10.97, a PEG ratio of 2.02 and a beta of 0.89.

First Horizon (NYSE:FHNGet Free Report) last posted its quarterly earnings data 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. The company had revenue of $819.00 million during the quarter, compared to analysts’ expectations of $809.51 million. First Horizon had a net margin of 16.07% and a return on equity of 8.96%. First Horizon’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.46 earnings per share. As a group, research analysts forecast that First Horizon will post 1.51 earnings per share for the current year.

First Horizon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were issued a $0.15 dividend. The ex-dividend date was Friday, June 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.82%. First Horizon’s dividend payout ratio is presently 41.96%.

Institutional Investors Weigh In On First Horizon

Institutional investors and hedge funds have recently made changes to their positions in the business. Rise Advisors LLC acquired a new stake in shares of First Horizon in the 1st quarter worth about $25,000. Fidelis Capital Partners LLC purchased a new stake in First Horizon in the 1st quarter valued at about $28,000. Fortitude Family Office LLC increased 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 buying an additional 1,102 shares during the last quarter. Raleigh Capital Management Inc. purchased a new stake in First Horizon in the 4th quarter valued at about $28,000. Finally, Richardson Financial Services Inc. purchased a new stake in First Horizon in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 80.28% of the company’s stock.

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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