First Horizon (NYSE:FHN) Rating Reiterated by Robert W. Baird

Robert W. Baird reiterated their neutral rating on shares of First Horizon (NYSE:FHN) in a research note released on Tuesday morning, Benzinga reports. The brokerage currently has a $16.00 price objective on the financial services provider’s stock.

A number of other research firms also recently issued reports on FHN. Evercore ISI reduced their price target on shares of First Horizon from $18.50 to $17.50 and set an outperform rating on the stock in a research note on Tuesday, June 25th. Wells Fargo & Company upped their price target on First Horizon from $14.00 to $16.00 and gave the stock an equal weight rating in a research note on Wednesday, April 10th. Raymond James lowered First Horizon from a strong-buy rating to an outperform rating and set a $18.00 price target for the company. in a research report on Thursday, July 18th. Stephens began coverage on First Horizon in a report on Thursday, May 23rd. They issued an overweight rating and a $19.00 price objective on the stock. Finally, Jefferies Financial Group raised their target price on First Horizon from $17.00 to $18.00 and gave the company a buy rating in a report on Wednesday, July 3rd. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, First Horizon presently has an average rating of Moderate Buy and a consensus price target of $17.31.

First Horizon Trading Up 0.2 %

FHN traded up $0.03 during trading hours on Tuesday, reaching $14.98. The company’s stock had a trading volume of 2,407,638 shares, compared to its average volume of 6,848,814. The business’s 50-day moving average is $15.56 and its 200-day moving average is $15.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market cap of $8.19 billion, a PE ratio of 10.48, a P/E/G ratio of 3.23 and a beta of 0.89. First Horizon has a fifty-two week low of $10.08 and a fifty-two week high of $17.46.

First Horizon (NYSE:FHN) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $819.82 million. First Horizon had a return on equity of 8.84% and a net margin of 14.03%. During the same quarter in the prior year, the company posted $0.39 earnings per share. As a group, equities research analysts predict that First Horizon will post 1.46 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.01%. First Horizon’s payout ratio is currently 41.96%.

Institutional Trading of First Horizon

Institutional investors have recently bought and sold shares of the business. Rise Advisors LLC acquired a new stake in shares of First Horizon during the 1st quarter worth about $25,000. Family Firm Inc. purchased a new position in First Horizon in the second quarter valued at approximately $28,000. Fidelis Capital Partners LLC acquired a new stake in First Horizon during the first quarter worth approximately $28,000. Fortitude Family Office LLC lifted its position in shares of First Horizon by 129.3% during the 1st quarter. Fortitude Family Office LLC now owns 1,954 shares of the financial services provider’s stock worth $30,000 after buying an additional 1,102 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. purchased a new stake in shares of First Horizon during the 2nd quarter worth approximately $31,000. 80.28% of the stock is owned by hedge funds and other institutional investors.

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.