First Horizon Corporation (NYSE:FHN) Receives $27.45 Consensus PT from Analysts

First Horizon Corporation (NYSE:FHN) has received an average rating of “Hold” from the twenty-one brokerages that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $27.45.

Several brokerages have recently weighed in on FHN. Fundamental Research set a $28.50 target price on First Horizon in a report on Wednesday, July 1st. JPMorgan Chase & Co. cut their price target on First Horizon from $28.50 to $27.00 and set a “neutral” rating for the company in a report on Thursday, July 16th. Truist Financial lifted their price objective on First Horizon from $26.00 to $27.00 and gave the stock a “hold” rating in a research report on Friday, July 10th. Wall Street Zen lowered First Horizon from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of First Horizon in a report on Friday, September 4th.

First Horizon Stock Performance

NYSE:FHN opened at $23.92 on Monday. The company has a market cap of $11.33 billion, a P/E ratio of 11.44, a P/E/G ratio of 0.97 and a beta of 0.60. First Horizon has a twelve month low of $19.80 and a twelve month high of $26.56. The company’s 50-day moving average price is $25.21 and its 200-day moving average price is $24.43. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.15.

First Horizon (NYSE:FHN) last announced its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. The company had revenue of $887.00 million during the quarter, compared to analysts’ expectations of $878.42 million. First Horizon had a net margin of 21.12% and a return on equity of 12.06%. During the same quarter in the prior year, the company earned $0.45 EPS. On average, sell-side analysts forecast that First Horizon will post 2.15 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $0.68 annualized dividend and a dividend yield of 2.8%. First Horizon’s payout ratio is presently 32.54%.

Insider Buying and Selling at First Horizon

In related news, EVP Elizabeth Ardoin sold 18,313 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $24.85, for a total value of $455,078.05. Following the completion of the sale, the executive vice president owned 340,368 shares of the company’s stock, valued at approximately $8,458,144.80. This represents a 5.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.91% of the company’s stock.

Hedge Funds Weigh In On First Horizon

Institutional investors and hedge funds have recently bought and sold shares of the company. Ancora Advisors LLC purchased a new stake in shares of First Horizon in the 2nd quarter valued at approximately $42,000. Basecamp Wealth Advisors LLC raised its position in shares of First Horizon by 56.2% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 2,073 shares of the financial services provider’s stock valued at $47,000 after buying an additional 746 shares during the period. Cary Street Partners Investment Advisory LLC raised its position in shares of First Horizon by 1,348.2% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 2,013 shares of the financial services provider’s stock valued at $48,000 after buying an additional 1,874 shares during the period. Parkside Financial Bank & Trust lifted its holdings in First Horizon by 58.1% in the second quarter. Parkside Financial Bank & Trust now owns 2,352 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 864 shares during the last quarter. Finally, Transamerica Financial Advisors LLC acquired a new position in First Horizon in the second quarter valued at approximately $70,000. 80.28% of the stock is currently owned by institutional investors and hedge funds.

About First Horizon

First Horizon Corporation (NYSE:FHN) is a financial services company headquartered in Memphis, Tennessee. Through its principal subsidiary, First Horizon Bank, the company provides banking, lending and wealth management services to individuals, businesses and institutions.

Its consumer banking activities include checking and savings accounts, residential mortgages, personal loans, credit products and digital banking services. First Horizon also serves commercial customers with business deposits, commercial and industrial loans, real estate financing, treasury management and other specialized banking solutions.

The company offers investment, trust and advisory services through its wealth management operations and provides capital markets services, including investment banking, securities underwriting, fixed-income products and institutional sales and trading.