First Horizon (NYSE:FHN) Price Target Raised to $19.00 at Barclays

First Horizon (NYSE:FHN) had its target price upped by Barclays from $18.00 to $19.00 in a report published on Monday morning, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other analysts also recently commented on FHN. Wedbush reiterated an outperform rating and set a $17.00 target price on shares of First Horizon in a research report on Wednesday, April 10th. Keefe, Bruyette & Woods reissued an outperform rating and issued a $18.00 price target on shares of First Horizon in a report on Tuesday, June 11th. Stephens began coverage on First Horizon in a report on Thursday, May 23rd. They issued an overweight rating and a $19.00 price target for the company. Royal Bank of Canada raised First Horizon from a sector perform rating to an outperform rating and boosted their price target for the stock from $16.00 to $18.00 in a report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. boosted their price target on First Horizon from $16.00 to $17.50 and gave the stock a neutral rating in a report on Thursday, April 4th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $16.69.

First Horizon Stock Up 2.3 %

FHN opened at $15.01 on Monday. The business’s fifty day moving average is $15.25 and its two-hundred day moving average is $14.64. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.95 and a current ratio of 0.96. The company has a market cap of $8.21 billion, a price-to-earnings ratio of 10.49, a PEG ratio of 1.97 and a beta of 0.91. First Horizon has a one year low of $10.08 and a one year high of $16.28.

First Horizon (NYSE:FHN) last posted its earnings results on Wednesday, April 17th. The financial services provider reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The company had revenue of $819.00 million for the quarter, compared to the consensus estimate of $809.51 million. First Horizon had a return on equity of 8.96% and a net margin of 16.07%. First Horizon’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.46 earnings per share. Analysts anticipate that First Horizon will post 1.5 EPS for the current fiscal year.

First Horizon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, June 14th. This represents a $0.60 annualized dividend and a yield of 4.00%. First Horizon’s dividend payout ratio is presently 41.96%.

Institutional Investors Weigh In On First Horizon

Several institutional investors and hedge funds have recently added to or reduced their stakes in FHN. Rise Advisors LLC acquired a new stake in First Horizon during the first quarter worth about $25,000. Raleigh Capital Management Inc. acquired a new stake in First Horizon during the fourth quarter worth about $28,000. Fidelis Capital Partners LLC acquired a new stake in First Horizon during the first quarter worth about $28,000. Fortitude Family Office LLC increased its stake in First Horizon by 129.3% during the first quarter. Fortitude Family Office LLC now owns 1,954 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 1,102 shares during the last quarter. Finally, Richardson Financial Services Inc. acquired a new stake in First Horizon during the fourth quarter worth about $35,000. 80.28% of the stock is currently owned by institutional investors and hedge funds.

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.