First Horizon Corporation (NYSE:FHN) Given Average Recommendation of “Moderate Buy” by Analysts

First Horizon Corporation (NYSE:FHN) has been given a consensus rating of “Moderate Buy” by the seventeen research firms that are covering the stock, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $22.53.

FHN has been the topic of a number of research analyst reports. Citigroup boosted their target price on First Horizon from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Raymond James Financial decreased their target price on First Horizon from $23.00 to $22.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 2nd. Wall Street Zen upgraded First Horizon from a “sell” rating to a “hold” rating in a research report on Saturday, June 14th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $24.00 target price (up from $22.00) on shares of First Horizon in a research report on Monday, June 9th. Finally, Baird R W upgraded First Horizon from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 7th.

First Horizon Price Performance

Shares of First Horizon stock opened at $19.92 on Friday. The stock’s 50-day simple moving average is $19.13 and its 200-day simple moving average is $19.81. First Horizon has a 52 week low of $14.34 and a 52 week high of $22.44. The company has a market capitalization of $10.10 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 1.00 and a beta of 0.61. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.20.

First Horizon (NYSE:FHN) last posted its earnings results on Wednesday, April 16th. The financial services provider reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. The company had revenue of $823.69 million for the quarter, compared to the consensus estimate of $825.11 million. First Horizon had a return on equity of 10.33% and a net margin of 16.13%. During the same period in the previous year, the business earned $0.35 earnings per share. As a group, analysts expect that First Horizon will post 1.67 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, June 13th. This represents a $0.60 annualized dividend and a yield of 3.01%. First Horizon’s payout ratio is currently 41.67%.

Institutional Investors Weigh In On First Horizon

Large investors have recently added to or reduced their stakes in the stock. CIBC Asset Management Inc grew its stake in shares of First Horizon by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 17,214 shares of the financial services provider’s stock valued at $347,000 after buying an additional 884 shares during the last quarter. Truist Financial Corp grew its stake in shares of First Horizon by 2.6% during the fourth quarter. Truist Financial Corp now owns 48,049 shares of the financial services provider’s stock valued at $968,000 after buying an additional 1,230 shares during the last quarter. Venturi Wealth Management LLC bought a new position in shares of First Horizon during the fourth quarter valued at approximately $101,000. Ieq Capital LLC grew its stake in shares of First Horizon by 601.2% during the fourth quarter. Ieq Capital LLC now owns 180,121 shares of the financial services provider’s stock valued at $3,628,000 after buying an additional 154,433 shares during the last quarter. Finally, Concurrent Investment Advisors LLC grew its stake in shares of First Horizon by 87.8% during the fourth quarter. Concurrent Investment Advisors LLC now owns 21,039 shares of the financial services provider’s stock valued at $424,000 after buying an additional 9,836 shares during the last quarter. 80.28% of the stock is owned by institutional investors.

About First Horizon

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.