First Horizon Corporation (NYSE:FHN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of First Horizon Corporation (NYSE:FHN) have been given an average rating of “Moderate Buy” by the twenty brokerages that are covering the firm, MarketBeat Ratings reports. Ten equities research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $26.6579.

A number of research analysts have weighed in on the stock. Raymond James Financial lifted their price target on shares of First Horizon from $23.00 to $27.00 and gave the company an “outperform” rating in a research note on Wednesday, January 7th. UBS Group restated a “buy” rating and set a $29.00 price objective on shares of First Horizon in a report on Wednesday, February 4th. Truist Financial set a $27.00 target price on shares of First Horizon in a research note on Friday, January 9th. Keefe, Bruyette & Woods increased their target price on First Horizon from $24.00 to $25.00 and gave the stock a “market perform” rating in a report on Friday, January 16th. Finally, DA Davidson lifted their price target on First Horizon from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, January 16th.

Insiders Place Their Bets

In other First Horizon news, EVP Anthony J. Restel sold 5,719 shares of the company’s stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $24.35, for a total transaction of $139,257.65. Following the completion of the transaction, the executive vice president owned 619,132 shares of the company’s stock, valued at $15,075,864.20. This represents a 0.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.87% of the stock is currently owned by company insiders.

Institutional Trading of First Horizon

Institutional investors have recently made changes to their positions in the business. Atlantic Union Bankshares Corp bought a new position in First Horizon in the third quarter valued at $25,000. Navigoe LLC bought a new stake in First Horizon during the 3rd quarter worth about $25,000. Root Financial Partners LLC acquired a new position in shares of First Horizon during the 3rd quarter worth about $31,000. Kestra Investment Management LLC grew its holdings in shares of First Horizon by 873.1% in the 2nd quarter. Kestra Investment Management LLC now owns 1,625 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 1,458 shares in the last quarter. Finally, TD Waterhouse Canada Inc. increased its position in shares of First Horizon by 122.3% in the third quarter. TD Waterhouse Canada Inc. now owns 1,636 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 900 shares during the last quarter. Institutional investors own 80.28% of the company’s stock.

First Horizon Price Performance

FHN opened at $24.47 on Thursday. The stock has a market cap of $12.05 billion, a P/E ratio of 13.02, a P/E/G ratio of 0.91 and a beta of 0.63. First Horizon has a 12 month low of $15.19 and a 12 month high of $26.56. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $24.59 and a 200 day simple moving average of $23.01.

First Horizon (NYSE:FHN) last posted its earnings results on Thursday, January 15th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.06. First Horizon had a return on equity of 11.21% and a net margin of 19.67%.The firm had revenue of $892.00 million during the quarter, compared to analysts’ expectations of $863.87 million. During the same period in the previous year, the firm earned $0.43 earnings per share. On average, research analysts expect that First Horizon will post 1.67 EPS for the current year.

First Horizon Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be given a $0.17 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.68 dividend on an annualized basis and a yield of 2.8%. This is a boost from First Horizon’s previous quarterly dividend of $0.15. First Horizon’s payout ratio is 31.91%.

First Horizon Company Profile

First Horizon Corporation, headquartered in Memphis, Tennessee, is a diversified financial services company providing an array of retail, commercial and wealth management solutions. As the largest bank-based financial services firm in Tennessee, First Horizon operates through a network of branches and digital platforms across the Southeastern United States, offering personal and business banking, mortgage origination and servicing, payment solutions and treasury management services.

Tracing its origins to the First National Bank of Memphis established in 1864, First Horizon has grown through strategic acquisitions and organic expansion to serve customers in Tennessee, Texas, North Carolina, South Carolina, Georgia and Florida.