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

First Horizon Corporation (NYSE:FHN) has been assigned a consensus recommendation of “Hold” from the twenty brokerages that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $27.1579.

Several equities research analysts recently commented on the company. Keefe, Bruyette & Woods increased their price target on First Horizon from $25.00 to $26.00 and gave the company a “market perform” rating in a report on Thursday, April 16th. DA Davidson reissued a “neutral” rating and set a $26.00 price objective on shares of First Horizon in a research note on Thursday, April 16th. Weiss Ratings upgraded First Horizon from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 8th. JPMorgan Chase & Co. dropped their target price on First Horizon from $28.50 to $27.00 and set a “neutral” rating for the company in a report on Thursday, July 16th. Finally, Raymond James Financial raised their target price on First Horizon from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st.

First Horizon Stock Down 0.1%

First Horizon stock opened at $25.51 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.15. The firm has a market cap of $12.11 billion, a P/E ratio of 12.20, a P/E/G ratio of 1.01 and a beta of 0.60. The business has a fifty day moving average of $24.94 and a two-hundred day moving average of $24.32. First Horizon has a twelve month low of $19.80 and a twelve month high of $26.56.

First Horizon (NYSE:FHN) last released its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. The business had revenue of $890.00 million during the quarter, compared to analyst estimates of $878.42 million. First Horizon had a net margin of 21.12% and a return on equity of 12.06%. During the same period in the prior year, the firm posted $0.45 earnings per share. On average, analysts forecast that First Horizon will post 2.15 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th were issued a $0.17 dividend. The ex-dividend date was Friday, June 12th. This represents a $0.68 annualized dividend and a dividend yield of 2.7%. First Horizon’s dividend payout ratio is presently 32.54%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FHN. Lexington Hill Partners LLC purchased a new position in First Horizon in the second quarter valued at about $1,063,000. FNY Investment Advisers LLC boosted its holdings in First Horizon by 101.4% in the 2nd quarter. FNY Investment Advisers LLC now owns 5,096 shares of the financial services provider’s stock worth $130,000 after acquiring an additional 2,566 shares during the period. 55 North Private Wealth LLC purchased a new position in First Horizon in the 2nd quarter worth approximately $246,000. Dynamic Advisor Solutions LLC acquired a new stake in First Horizon in the second quarter valued at approximately $234,000. Finally, GAMMA Investing LLC raised its stake in shares of First Horizon by 6.0% during the second quarter. GAMMA Investing LLC now owns 19,703 shares of the financial services provider’s stock valued at $505,000 after purchasing an additional 1,118 shares during the period. 80.28% of the stock is currently owned by institutional investors and hedge funds.

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.