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

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

Several equities analysts recently issued reports on the company. National Bank Financial set a $27.00 price objective on First Horizon in a research report on Friday, January 16th. Weiss Ratings lowered First Horizon from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, March 17th. Keefe, Bruyette & Woods boosted their price target on First Horizon from $24.00 to $25.00 and gave the stock a “market perform” rating in a research note on Friday, January 16th. Zacks Research raised First Horizon from a “hold” rating to a “strong-buy” rating in a report on Friday, January 16th. Finally, Deutsche Bank Aktiengesellschaft started coverage on First Horizon in a research report on Tuesday, December 16th. They set a “buy” rating and a $28.00 price objective on the stock.

Insider Activity

In other news, EVP Anthony J. Restel sold 5,719 shares of First Horizon stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $24.35, for a total value of $139,257.65. Following the completion of the sale, the executive vice president directly owned 619,132 shares in the company, valued at $15,075,864.20. The trade was a 0.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.91% of the stock is currently owned by insiders.

Institutional Investors Weigh In On First Horizon

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nalls Sherbakoff Group LLC bought a new stake in First Horizon in the 4th quarter worth approximately $359,000. Corient Private Wealth LLC raised its stake in First Horizon by 4.5% during the 4th quarter. Corient Private Wealth LLC now owns 126,862 shares of the financial services provider’s stock valued at $3,032,000 after buying an additional 5,511 shares during the last quarter. TMB Capital Partners LLC bought a new position in shares of First Horizon during the 4th quarter valued at $553,000. Invesco Ltd. boosted its stake in shares of First Horizon by 5.6% in the 4th quarter. Invesco Ltd. now owns 8,033,759 shares of the financial services provider’s stock worth $192,007,000 after buying an additional 426,951 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its stake in shares of First Horizon by 72.6% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 83,680 shares of the financial services provider’s stock worth $2,000,000 after buying an additional 35,208 shares during the last quarter. Hedge funds and other institutional investors own 80.28% of the company’s stock.

First Horizon Stock Up 0.3%

Shares of First Horizon stock opened at $21.80 on Monday. The company has a 50-day simple moving average of $24.06 and a two-hundred day simple moving average of $23.08. The stock has a market capitalization of $10.41 billion, a PE ratio of 11.60, a price-to-earnings-growth ratio of 0.83 and a beta of 0.61. First Horizon has a 52-week low of $15.19 and a 52-week high of $26.56. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.96.

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

First Horizon Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be paid a dividend of $0.17 per share. The ex-dividend date is Friday, March 13th. This represents a $0.68 annualized dividend and a yield of 3.1%. This is an increase from First Horizon’s previous quarterly dividend of $0.15. First Horizon’s dividend payout ratio (DPR) is currently 36.17%.

About First Horizon

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.