First Horizon Co. (NYSE:FHN) Receives $19.08 Average PT from Brokerages

Shares of First Horizon Co. (NYSE:FHN) have been assigned a consensus rating of “Moderate Buy” from the thirteen research firms that are covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $19.46.

A number of equities analysts have weighed in on FHN shares. Evercore ISI upped their price target on First Horizon from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Stephens upped their target price on shares of First Horizon from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. dropped their price target on shares of First Horizon from $19.00 to $18.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Raymond James upped their price objective on shares of First Horizon from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, Barclays lifted their target price on First Horizon from $21.00 to $23.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th.

Insider Activity

In other First Horizon news, Director Harry V. Barton, Jr. sold 10,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $19.92, for a total value of $199,200.00. Following the completion of the transaction, the director now owns 166,840 shares in the company, valued at approximately $3,323,452.80. This represents a 5.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP David T. Popwell sold 100,974 shares of First Horizon stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $19.77, for a total value of $1,996,255.98. Following the sale, the executive vice president now directly owns 519,926 shares in the company, valued at approximately $10,278,937.02. This trade represents a 16.26 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD increased its stake in shares of First Horizon by 5.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 309,493 shares of the financial services provider’s stock valued at $4,767,000 after acquiring an additional 17,329 shares during the period. Tidal Investments LLC bought a new position in First Horizon during the first quarter valued at about $207,000. Cetera Advisors LLC grew its holdings in First Horizon by 54.6% during the first quarter. Cetera Advisors LLC now owns 28,590 shares of the financial services provider’s stock worth $440,000 after acquiring an additional 10,103 shares during the period. GAMMA Investing LLC raised its position in First Horizon by 30.8% in the second quarter. GAMMA Investing LLC now owns 6,535 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 1,538 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its holdings in First Horizon by 270.0% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 46,608 shares of the financial services provider’s stock valued at $735,000 after acquiring an additional 34,011 shares during the last quarter. Institutional investors own 80.28% of the company’s stock.

First Horizon Price Performance

FHN opened at $20.69 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. The company has a market cap of $10.97 billion, a P/E ratio of 14.99, a P/E/G ratio of 1.54 and a beta of 0.91. The company has a 50 day moving average of $18.38 and a two-hundred day moving average of $16.62. First Horizon has a 52-week low of $12.95 and a 52-week high of $21.72.

First Horizon (NYSE:FHN) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $0.42 EPS for the quarter, beating the consensus estimate of $0.38 by $0.04. First Horizon had a return on equity of 9.51% and a net margin of 15.43%. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $821.63 million. During the same period last year, the company posted $0.27 earnings per share. On average, analysts expect that First Horizon will post 1.49 earnings per share for the current year.

First Horizon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Friday, December 13th. First Horizon’s dividend payout ratio (DPR) is presently 43.48%.

First Horizon declared that its Board of Directors has approved a share buyback plan on Tuesday, October 29th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 10.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

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.