First Horizon (NYSE:FHN) Trading 5.9% Higher

Shares of First Horizon Co. (NYSE:FHN) shot up 5.9% during trading on Friday . The company traded as high as $15.67 and last traded at $15.67. 3,531,520 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 6,766,694 shares. The stock had previously closed at $14.80.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FHN. Robert W. Baird lifted their price target on shares of First Horizon from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, April 18th. Keefe, Bruyette & Woods restated 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 lowered shares of First Horizon from a “hold” rating to a “sell” rating in a research report on Wednesday. Wells Fargo & Company boosted their target price on shares of First Horizon from $14.00 to $16.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 10th. Finally, Wedbush restated an “outperform” rating and set a $17.00 target price on shares of First Horizon in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $16.69.

First Horizon Price Performance

The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.13. The firm has a market cap of $8.62 billion, a PE ratio of 10.94, a P/E/G ratio of 1.99 and a beta of 0.91. The firm’s fifty day simple moving average is $15.29 and its two-hundred day simple moving average is $14.65.

First Horizon (NYSE:FHN) last issued its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.35 earnings per share for the quarter, beating 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 the consensus estimate of $809.51 million. During the same quarter in the previous year, the firm earned $0.46 earnings per share. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. As a group, research analysts expect that First Horizon Co. will post 1.5 EPS for the current year.

First Horizon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.80%. The ex-dividend date is Friday, June 14th. First Horizon’s dividend payout ratio (DPR) is presently 41.96%.

Hedge Funds Weigh In On First Horizon

Several hedge funds have recently modified their holdings of the stock. Rise Advisors LLC purchased a new stake in First Horizon during the first quarter valued at $25,000. Raleigh Capital Management Inc. bought a new position in shares of First Horizon in the fourth quarter worth about $28,000. Fidelis Capital Partners LLC bought a new position in shares of First Horizon in the first quarter worth about $28,000. Fortitude Family Office LLC grew its holdings in shares of First Horizon by 129.3% in the first quarter. Fortitude Family Office LLC now owns 1,954 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 1,102 shares during the last quarter. Finally, Richardson Financial Services Inc. bought a new position in shares of First Horizon in the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 80.28% of the company’s stock.

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.