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

Shares of First Horizon Co. (NYSE:FHN) have received an average recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $22.04.

A number of brokerages have issued reports on FHN. Robert W. Baird set a $17.00 price target on shares of First Horizon in a report on Thursday, October 17th. Evercore ISI raised their target price on First Horizon from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Stephens reaffirmed an “overweight” rating and set a $24.00 price target on shares of First Horizon in a research report on Friday, January 17th. Wells Fargo & Company lifted their price objective on First Horizon from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. Finally, Raymond James raised their price target on First Horizon from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th.

Insider Buying and Selling

In other First Horizon news, Director Harry V. Barton, Jr. sold 10,000 shares of First Horizon stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $19.92, for a total value of $199,200.00. Following the completion of the transaction, the director now directly owns 166,840 shares of the company’s stock, valued at approximately $3,323,452.80. The trade was a 5.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David T. Popwell sold 100,974 shares of First Horizon stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 519,926 shares of the company’s stock, 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. 0.87% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. UMB Bank n.a. raised its holdings in First Horizon by 365.0% in the 3rd quarter. UMB Bank n.a. now owns 1,688 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 1,325 shares during the period. Nemes Rush Group LLC lifted its position in shares of First Horizon by 306.2% in the second quarter. Nemes Rush Group LLC now owns 1,828 shares of the financial services provider’s stock worth $29,000 after buying an additional 1,378 shares in the last quarter. Versant Capital Management Inc increased its stake in First Horizon by 160.1% in the 4th quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 884 shares during the last quarter. Covestor Ltd grew its holdings in shares of First Horizon by 44.0% in 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. Finally, True Wealth Design LLC bought a new stake in shares of First Horizon in the 3rd quarter worth about $36,000. Institutional investors own 80.28% of the company’s stock.

First Horizon Trading Down 0.7 %

NYSE FHN opened at $21.42 on Wednesday. The firm has a market cap of $11.35 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 1.41 and a beta of 0.92. First Horizon has a 1-year low of $13.45 and a 1-year high of $21.82. The stock has a 50-day moving average of $20.49 and a 200-day moving average of $17.79. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14.

First Horizon (NYSE:FHN) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.05. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. During the same period in the prior year, the company earned $0.32 earnings per share. As a group, sell-side analysts forecast that First Horizon will post 1.63 EPS for the current year.

First Horizon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date was Friday, December 13th. First Horizon’s dividend payout ratio (DPR) is presently 44.12%.

First Horizon announced that its Board of Directors has approved a share repurchase program on Tuesday, October 29th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 10.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is 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.