Analysts Set First Horizon Co. (NYSE:FHN) Target Price at $16.62

First Horizon Co. (NYSE:FHNGet Free Report) has received an average rating of “Moderate Buy” from the thirteen analysts that are covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $16.62.

FHN has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $18.00 price target on shares of First Horizon in a report on Tuesday, June 11th. Wedbush restated an “outperform” rating and set a $17.00 price target on shares of First Horizon in a research note on Wednesday, April 10th. JPMorgan Chase & Co. lifted their price target on shares of First Horizon from $16.00 to $17.50 and gave the stock a “neutral” rating in a report on Thursday, April 4th. Stephens started coverage on First Horizon in a report on Thursday, May 23rd. They set an “overweight” rating and a $19.00 price objective for the company. Finally, Barclays started coverage on First Horizon in a research note on Friday, March 8th. They issued an “overweight” rating and a $18.00 target price on the stock.

Read Our Latest Research Report on First Horizon

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Rise Advisors LLC purchased a new position in First Horizon during the first quarter worth about $25,000. Raleigh Capital Management Inc. purchased a new position in shares of First Horizon during the fourth quarter worth about $28,000. Fidelis Capital Partners LLC bought a new position in shares of First Horizon in the first quarter worth approximately $28,000. Fortitude Family Office LLC raised its stake in First Horizon by 129.3% in the first quarter. Fortitude Family Office LLC now owns 1,954 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 1,102 shares in the last quarter. Finally, Richardson Financial Services Inc. bought a new stake in First Horizon during the fourth quarter valued at approximately $35,000. Institutional investors own 80.28% of the company’s stock.

First Horizon Price Performance

First Horizon stock opened at $14.46 on Tuesday. First Horizon has a 52 week low of $10.08 and a 52 week high of $16.28. The company’s 50 day moving average price is $15.25 and its two-hundred day moving average price is $14.59. The stock has a market cap of $7.91 billion, a P/E ratio of 10.11, a P/E/G ratio of 1.93 and a beta of 0.91. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.13.

First Horizon (NYSE:FHNGet Free Report) last issued its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The business had revenue of $819.00 million for the quarter, compared to analyst estimates of $809.51 million. First Horizon had a return on equity of 8.96% and a net margin of 16.07%. First Horizon’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period last year, the company posted $0.46 earnings per share. On average, equities analysts predict that First Horizon will post 1.5 earnings per share for the current year.

First Horizon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend is Friday, June 14th. First Horizon’s payout ratio is 41.96%.

First Horizon Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for First Horizon (NYSE:FHN)

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