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

Shares of First Horizon Co. (NYSE:FHN) have been given a consensus recommendation of “Moderate Buy” by the fifteen ratings firms that are covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $22.23.

A number of analysts have recently commented on FHN shares. The Goldman Sachs Group boosted their price target on First Horizon from $18.50 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Stephens reissued an “overweight” rating and issued a $24.00 price target on shares of First Horizon in a research report on Friday, January 17th. Bank of America boosted their price target on First Horizon from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Citigroup boosted their price target on First Horizon from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Finally, Keefe, Bruyette & Woods upped their price objective on First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th.

Insider Transactions at First Horizon

In related news, CEO D Bryan Jordan sold 109,980 shares of the company’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $21.13, for a total value of $2,323,877.40. Following the completion of the transaction, the chief executive officer now owns 1,861,381 shares of the company’s stock, valued at approximately $39,330,980.53. This represents a 5.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.87% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FHN. Concurrent Investment Advisors LLC bought a new position in First Horizon in the 3rd quarter worth $174,000. Covestor Ltd boosted its holdings in shares of First Horizon by 44.0% during the 3rd 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 during the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in shares of First Horizon by 7.2% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 171,104 shares of the financial services provider’s stock valued at $2,657,000 after purchasing an additional 11,492 shares during the last quarter. Apollon Wealth Management LLC bought a new position in shares of First Horizon during the 3rd quarter valued at about $827,000. Finally, GSA Capital Partners LLP boosted its holdings in shares of First Horizon by 99.8% during the 3rd quarter. GSA Capital Partners LLP now owns 122,425 shares of the financial services provider’s stock valued at $1,901,000 after purchasing an additional 61,150 shares during the last quarter. Institutional investors own 80.28% of the company’s stock.

First Horizon Stock Performance

First Horizon stock opened at $18.73 on Thursday. The stock’s 50 day simple moving average is $21.00 and its two-hundred day simple moving average is $19.07. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96. The stock has a market cap of $9.77 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 1.19 and a beta of 0.86. First Horizon has a fifty-two week low of $13.72 and a fifty-two week high of $22.44.

First Horizon (NYSE:FHN) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates 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 previous year, the company posted $0.32 EPS. As a group, analysts expect that First Horizon will post 1.67 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.60 annualized dividend and a dividend yield of 3.20%. First Horizon’s dividend payout ratio (DPR) is 44.12%.

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.