First Horizon (NYSE:FHN) Price Target Raised to $21.00

First Horizon (NYSE:FHN) had its price target increased by Barclays from $19.00 to $21.00 in a research report released on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

FHN has been the subject of a number of other research reports. Raymond James lowered 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 report on Thursday, July 18th. Royal Bank of Canada lifted their price target on shares of First Horizon from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Thursday. JPMorgan Chase & Co. decreased their price target on First Horizon from $19.00 to $18.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Jefferies Financial Group lifted their price objective on First Horizon from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Finally, Evercore ISI decreased their target price on First Horizon from $18.50 to $18.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, First Horizon presently has an average rating of “Moderate Buy” and an average target price of $17.77.

First Horizon Trading Up 0.1 %

FHN opened at $17.45 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. The company’s 50 day simple moving average is $15.88 and its two-hundred day simple moving average is $15.58. The firm has a market capitalization of $9.54 billion, a price-to-earnings ratio of 12.20, a price-to-earnings-growth ratio of 1.27 and a beta of 0.88. First Horizon has a 1-year low of $10.16 and a 1-year high of $17.68.

First Horizon (NYSE:FHN) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $821.63 million. First Horizon had a return on equity of 8.84% and a net margin of 14.03%. During the same quarter last year, the business posted $0.27 earnings per share. Analysts expect that First Horizon will post 1.46 EPS for the current fiscal year.

First Horizon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.44%. The ex-dividend date was Friday, September 13th. First Horizon’s dividend payout ratio (DPR) is presently 41.96%.

Institutional Trading of First Horizon

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Rise Advisors LLC acquired a new stake in First Horizon during the first quarter worth approximately $25,000. UMB Bank n.a. lifted its holdings in shares of 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 valued at $26,000 after purchasing an additional 1,325 shares during the last quarter. Family Firm Inc. acquired a new stake in shares of First Horizon in the 2nd quarter valued at about $28,000. Nemes Rush Group LLC grew its stake in First Horizon by 306.2% during the 2nd 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 during the last quarter. Finally, Fidelis Capital Partners LLC purchased a new position in First Horizon during the 1st quarter worth approximately $28,000. 80.28% of the stock is currently 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.