First Horizon Co. (NYSE:FHN) Given Average Rating of “Moderate Buy” by Brokerages

First Horizon Co. (NYSE:FHN) has been assigned an average rating of “Moderate Buy” from the thirteen ratings firms that are currently covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $21.00.

A number of brokerages have recently weighed in on FHN. Evercore ISI increased their price target on First Horizon from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Royal Bank of Canada increased their target price on First Horizon from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Wedbush downgraded shares of First Horizon from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $20.00 to $17.00 in a report on Tuesday, September 24th. UBS Group began coverage on shares of First Horizon in a report on Tuesday, December 17th. They issued a “buy” rating and a $25.00 price objective on the stock. Finally, The Goldman Sachs Group boosted their target price on shares of First Horizon from $18.50 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th.

Insider Transactions at First Horizon

In other news, Director Harry V. Barton, Jr. sold 10,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $19.92, for a total transaction of $199,200.00. Following the completion of the sale, the director now directly owns 166,840 shares of the company’s stock, valued at $3,323,452.80. This represents a 5.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP David T. Popwell sold 100,974 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $19.77, for a total value of $1,996,255.98. Following the sale, the executive vice president now owns 519,926 shares in the company, valued at approximately $10,278,937.02. The trade was a 16.26 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. UMB Bank n.a. boosted its position in First Horizon by 365.0% during the 3rd quarter. UMB Bank n.a. now owns 1,688 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 1,325 shares during the period. Nemes Rush Group LLC boosted its holdings in shares of First Horizon by 306.2% during the second quarter. Nemes Rush Group LLC now owns 1,828 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 1,378 shares during the period. Covestor Ltd grew its position in First Horizon by 44.0% during the third quarter. Covestor Ltd now owns 2,130 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 651 shares in the last quarter. True Wealth Design LLC purchased a new position in First Horizon during the third quarter valued at approximately $36,000. Finally, LRI Investments LLC increased its stake in First Horizon by 365.7% in the 3rd quarter. LRI Investments LLC now owns 3,800 shares of the financial services provider’s stock valued at $59,000 after buying an additional 2,984 shares during the period. 80.28% of the stock is owned by institutional investors and hedge funds.

First Horizon Stock Performance

First Horizon stock opened at $20.19 on Friday. The company has a market cap of $10.70 billion, a PE ratio of 14.63, a P/E/G ratio of 1.54 and a beta of 0.91. First Horizon has a 12 month low of $12.95 and a 12 month high of $21.72. The company has a fifty day moving average price of $19.59 and a two-hundred day moving average price of $17.08. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95.

First Horizon (NYSE:FHN) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.04. First Horizon had a net margin of 15.43% and a return on equity of 9.51%. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $821.63 million. During the same quarter in the prior year, the firm earned $0.27 EPS. Research analysts expect that First Horizon will post 1.49 earnings per share for the current year.

First Horizon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a $0.15 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.60 dividend on an annualized basis and a yield of 2.97%. First Horizon’s dividend payout ratio (DPR) is 43.48%.

First Horizon announced that its Board of Directors has authorized a share buyback plan on Tuesday, October 29th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 10.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

First Horizon Company Profile

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.