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

Shares of First Horizon Corporation (NYSE:FHN) have earned an average rating of “Hold” from the twenty-one ratings firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $26.4474.

FHN has been the subject of several recent analyst reports. Wells Fargo & Company boosted their price target on shares of First Horizon from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Monday, March 30th. Weiss Ratings raised First Horizon from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 8th. UBS Group downgraded First Horizon from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $29.00 to $25.00 in a research note on Tuesday, April 7th. Barclays reduced their target price on shares of First Horizon from $30.00 to $29.00 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. Finally, DA Davidson restated a “neutral” rating and set a $26.00 price target on shares of First Horizon in a research report on Thursday, April 16th.

First Horizon Price Performance

NYSE:FHN opened at $25.64 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.15. First Horizon has a 52 week low of $19.80 and a 52 week high of $26.56. The stock’s 50-day moving average price is $24.50 and its 200-day moving average price is $24.14. The stock has a market capitalization of $12.17 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 1.00 and a beta of 0.60.

First Horizon (NYSE:FHN) last issued its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $0.53 EPS for the quarter, beating the consensus estimate of $0.49 by $0.04. The company had revenue of $865.00 million for the quarter, compared to analyst estimates of $869.49 million. First Horizon had a return on equity of 11.65% and a net margin of 20.54%.First Horizon’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period last year, the company earned $0.42 earnings per share. As a group, equities analysts expect that First Horizon will post 2.15 EPS for the current fiscal year.

First Horizon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, June 12th. First Horizon’s dividend payout ratio (DPR) is 34.00%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Bessemer Group Inc. raised its holdings in shares of First Horizon by 0.3% in the 1st quarter. Bessemer Group Inc. now owns 138,920 shares of the financial services provider’s stock valued at $3,162,000 after buying an additional 425 shares during the period. Thoroughbred Financial Services LLC increased its stake in First Horizon by 3.4% during the fourth quarter. Thoroughbred Financial Services LLC now owns 14,055 shares of the financial services provider’s stock worth $335,000 after purchasing an additional 457 shares during the period. Illinois Municipal Retirement Fund lifted its position in shares of First Horizon by 0.7% during the fourth quarter. Illinois Municipal Retirement Fund now owns 68,661 shares of the financial services provider’s stock worth $1,641,000 after purchasing an additional 489 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of First Horizon by 1.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 40,296 shares of the financial services provider’s stock worth $963,000 after purchasing an additional 507 shares in the last quarter. Finally, Aaron Wealth Advisors LLC boosted its stake in shares of First Horizon by 5.4% in the fourth quarter. Aaron Wealth Advisors LLC now owns 9,905 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 511 shares during the period. 80.28% of the stock is currently owned by hedge funds and other institutional investors.

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.