First Horizon Co. (NYSE:FHN) Receives $22.23 Average Price Target from Brokerages

First Horizon Co. (NYSE:FHN) has been assigned a consensus rating of “Moderate Buy” from the fifteen brokerages that are covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $22.23.

A number of analysts have weighed in on the stock. Keefe, Bruyette & Woods raised their price objective on shares of First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. raised their price objective on shares of First Horizon from $22.50 to $23.50 and gave the stock a “neutral” rating in a report on Friday, January 17th. Barclays raised their price objective 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. Stephens reissued an “overweight” rating and issued a $24.00 price objective on shares of First Horizon in a report on Friday, January 17th. Finally, Royal Bank of Canada raised their price objective on shares of First Horizon from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th.

Insider Activity

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

Hedge Funds Weigh In On First Horizon

A number of large investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its holdings in shares of First Horizon by 160.1% during the fourth quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 884 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in First Horizon in the 4th quarter worth approximately $30,000. Kentucky Trust Co acquired a new position in First Horizon in the 4th quarter worth approximately $32,000. Covestor Ltd increased its holdings in First Horizon by 44.0% in the 3rd quarter. Covestor Ltd now owns 2,130 shares of the financial services provider’s stock worth $34,000 after buying an additional 651 shares during the period. Finally, True Wealth Design LLC acquired a new position in First Horizon in the 3rd quarter worth approximately $36,000. 80.28% of the stock is currently owned by institutional investors.

First Horizon Stock Down 0.9 %

NYSE:FHN opened at $18.86 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95. The firm’s 50-day moving average price is $20.91 and its 200-day moving average price is $19.14. The company has a market capitalization of $9.84 billion, a PE ratio of 13.87, a P/E/G ratio of 1.19 and a beta of 0.86. First Horizon has a 1-year low of $13.72 and a 1-year high of $22.44.

First Horizon (NYSE:FHN) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) 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 period last year, the business posted $0.32 earnings per share. On average, equities analysts predict that First Horizon will post 1.67 EPS for the current fiscal year.

First Horizon Announces Dividend

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

First Horizon Company Profile

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.