First Horizon (NYSE:FHN) Given New $18.50 Price Target at Evercore ISI

First Horizon (NYSE:FHN) had its price objective lowered by Evercore ISI from $19.50 to $18.50 in a research note released on Tuesday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the financial services provider’s stock.

Several other equities analysts have also recently weighed in on FHN. Robert W. Baird reaffirmed a neutral rating and set a $16.00 target price on shares of First Horizon in a research note on Tuesday, August 6th. Raymond James cut shares of First Horizon from a strong-buy rating to an outperform rating and set a $18.00 price objective for the company. in a research note on Thursday, July 18th. Keefe, Bruyette & Woods reissued a market perform rating and issued a $18.00 price objective on shares of First Horizon in a research note on Wednesday, July 17th. Barclays lifted their price objective on shares of First Horizon from $18.00 to $19.00 and gave the stock an overweight rating in a research note on Monday, June 24th. Finally, StockNews.com upgraded shares of First Horizon from a sell rating to a hold rating in a report on Saturday, July 20th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $17.38.

First Horizon Stock Down 0.1 %

Shares of FHN stock opened at $15.78 on Tuesday. The company has a market capitalization of $8.63 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 3.09 and a beta of 0.88. First Horizon has a one year low of $10.08 and a one year high of $17.46. The company’s fifty day moving average price is $15.98 and its 200-day moving average price is $15.42. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95.

First Horizon (NYSE:FHN) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $819.82 million. First Horizon had a net margin of 14.03% and a return on equity of 8.84%. During the same quarter in the previous year, the business earned $0.39 earnings per share. Sell-side analysts expect that First Horizon will post 1.46 EPS for the current fiscal year.

First Horizon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend is Friday, September 13th. First Horizon’s payout ratio is presently 41.96%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Rise Advisors LLC acquired a new position in shares of First Horizon during the 1st quarter worth approximately $25,000. Raleigh Capital Management Inc. acquired a new position in shares of First Horizon during the 4th quarter worth approximately $28,000. Fidelis Capital Partners LLC purchased a new stake in shares of First Horizon during the first quarter worth approximately $28,000. Family Firm Inc. purchased a new stake in shares of First Horizon during the second quarter worth approximately $28,000. Finally, Nemes Rush Group LLC increased its position 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 in the last quarter. 80.28% of the stock is owned by institutional investors and hedge funds.

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.