First Horizon (NYSE:FHN) Price Target Raised to $20.00

First Horizon (NYSE:FHN) had its price objective lifted by Stephens from $18.00 to $20.00 in a report released on Thursday morning, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other equities research analysts have also recently issued reports on FHN. Barclays boosted their price objective on First Horizon from $19.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday. Robert W. Baird restated a “neutral” rating and set a $16.00 price target on shares of First Horizon in a research note on Tuesday, August 6th. Royal Bank of Canada raised their price objective on shares of First Horizon from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Thursday. Raymond James cut shares of First Horizon from a “strong-buy” rating to an “outperform” rating and set a $18.00 target price on the stock. in a report on Thursday, July 18th. Finally, Jefferies Financial Group raised their price target on First Horizon from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $17.77.

First Horizon Trading Up 0.1 %

Shares of FHN stock opened at $17.45 on Thursday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. The firm has a market cap of $9.54 billion, a P/E ratio of 12.20, a PEG ratio of 1.27 and a beta of 0.88. The company has a 50 day moving average of $15.88 and a 200-day moving average of $15.58. First Horizon has a 12-month low of $10.16 and a 12-month high of $17.68.

First Horizon (NYSE:FHN) last released its earnings results on Wednesday, October 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. First Horizon had a return on equity of 8.84% and a net margin of 14.03%. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $821.63 million. During the same period last year, the business posted $0.27 earnings per share. Sell-side analysts anticipate that First Horizon will post 1.46 earnings per share for the current year.

First Horizon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were paid a $0.15 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.60 dividend on an annualized basis and a yield of 3.44%. First Horizon’s dividend payout ratio is currently 41.96%.

Institutional Trading of First Horizon

A number of large investors have recently modified their holdings of FHN. Goldman Sachs Group Inc. lifted its position in First Horizon by 2.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,453,280 shares of the financial services provider’s stock valued at $20,578,000 after purchasing an additional 38,455 shares during the last quarter. Vanguard Group Inc. grew its position in First Horizon by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 56,946,272 shares of the financial services provider’s stock worth $806,359,000 after acquiring an additional 171,222 shares in the last quarter. CWM LLC increased its stake in First Horizon by 9.9% in the first quarter. CWM LLC now owns 38,950 shares of the financial services provider’s stock valued at $600,000 after acquiring an additional 3,520 shares during the last quarter. Los Angeles Capital Management LLC raised its position in First Horizon by 55.5% during the first quarter. Los Angeles Capital Management LLC now owns 756,297 shares of the financial services provider’s stock valued at $11,647,000 after purchasing an additional 269,920 shares in the last quarter. Finally, Rise Advisors LLC bought a new stake in First Horizon during the first quarter worth about $25,000. 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.