First Horizon Corporation (NYSE:FHN) Receives $26.45 Consensus Target Price from Brokerages

Shares of First Horizon Corporation (NYSE:FHN) have earned a consensus rating of “Hold” from the twenty-one ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $26.4474.

A number of analysts have weighed in on FHN shares. Wells Fargo & Company increased their target price on shares of First Horizon from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Monday, March 30th. Weiss Ratings raised shares of First Horizon from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, April 16th. Zacks Research cut shares of First Horizon from a “strong-buy” rating to a “hold” rating in a report on Friday, March 20th. Autonomous Res cut shares of First Horizon from a “strong-buy” rating to a “strong sell” rating in a report on Wednesday, April 29th. Finally, Citigroup upped their price objective on First Horizon from $28.00 to $28.50 and gave the stock a “buy” rating in a research note on Tuesday, February 24th.

Institutional Trading of First Horizon

Large investors have recently modified their holdings of the company. Atlantic Union Bankshares Corp acquired a new stake in shares of First Horizon in the 3rd quarter worth about $25,000. Root Financial Partners LLC acquired a new stake in shares of First Horizon in the 3rd quarter worth about $31,000. Kestra Investment Management LLC increased its holdings in shares of First Horizon by 873.1% in the 2nd quarter. Kestra Investment Management LLC now owns 1,625 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 1,458 shares during the period. TD Waterhouse Canada Inc. increased its holdings in shares of First Horizon by 122.3% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 1,636 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 900 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in shares of First Horizon by 57.3% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,743 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 635 shares during the period. Institutional investors and hedge funds own 80.28% of the company’s stock.

First Horizon Stock Down 0.7%

Shares of NYSE:FHN opened at $23.55 on Tuesday. The stock has a market capitalization of $11.18 billion, a price-to-earnings ratio of 11.77, a price-to-earnings-growth ratio of 0.92 and a beta of 0.62. First Horizon has a 1-year low of $19.03 and a 1-year high of $26.56. The company’s fifty day moving average is $23.46 and its two-hundred day moving average is $23.50. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.96 and a current ratio of 0.96.

First Horizon (NYSE:FHN) last issued its earnings results on Wednesday, April 15th. The financial services provider reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. The company had revenue of $865.00 million for the quarter, compared to analysts’ expectations of $869.49 million. First Horizon had a net margin of 20.54% and a return on equity of 11.65%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.42 earnings per share. Equities analysts anticipate that First Horizon will post 2.16 EPS for the current year.

First Horizon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Friday, June 12th. First Horizon’s dividend payout ratio is presently 34.00%.

First Horizon Company Profile

First Horizon Corporation, headquartered in Memphis, Tennessee, is a diversified financial services company providing an array of retail, commercial and wealth management solutions. As the largest bank-based financial services firm in Tennessee, First Horizon operates through a network of branches and digital platforms across the Southeastern United States, offering personal and business banking, mortgage origination and servicing, payment solutions and treasury management services.

Tracing its origins to the First National Bank of Memphis established in 1864, First Horizon has grown through strategic acquisitions and organic expansion to serve customers in Tennessee, Texas, North Carolina, South Carolina, Georgia and Florida.