First Horizon Co. (NYSE:FHN) Receives Average Recommendation of “Moderate Buy” from Brokerages

First Horizon Co. (NYSE:FHN) has earned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $22.23.

Several equities research analysts have recently commented on FHN shares. Wells Fargo & Company upped their price objective on First Horizon from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Royal Bank of Canada upped their price target on First Horizon from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Stephens reaffirmed an “overweight” rating and set a $24.00 price objective on shares of First Horizon in a research report on Friday, January 17th. JPMorgan Chase & Co. increased their target price on shares of First Horizon from $22.50 to $23.50 and gave the stock a “neutral” rating in a report on Friday, January 17th. Finally, Citigroup lifted their price target on shares of First Horizon from $24.00 to $25.00 and gave the company a “buy” rating in a report on Friday, February 28th.

First Horizon Stock Down 6.1 %

FHN stock opened at $16.16 on Monday. The business’s 50-day moving average is $20.36 and its two-hundred day moving average is $19.45. The company has a market cap of $8.31 billion, a price-to-earnings ratio of 11.88, a P/E/G ratio of 1.19 and a beta of 0.60. First Horizon has a fifty-two week low of $13.72 and a fifty-two week high of $22.44. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96.

First Horizon (NYSE:FHN) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.05. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. During the same period in the prior year, the business earned $0.32 EPS. As a group, analysts forecast that First Horizon will post 1.67 earnings per share for the current year.

First Horizon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.71%. First Horizon’s dividend payout ratio is currently 44.12%.

Insider Buying and Selling at First Horizon

In other news, CEO D Bryan Jordan sold 109,980 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $21.13, for a total transaction of $2,323,877.40. Following the completion of the transaction, the chief executive officer now directly owns 1,861,381 shares in the company, valued at approximately $39,330,980.53. This represents a 5.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.87% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On First Horizon

Several large investors have recently bought and sold shares of the business. Belpointe Asset Management LLC grew its stake in shares of First Horizon by 3.1% in the 4th quarter. Belpointe Asset Management LLC now owns 17,631 shares of the financial services provider’s stock worth $355,000 after buying an additional 535 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in First Horizon by 3.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 15,731 shares of the financial services provider’s stock worth $317,000 after acquiring an additional 571 shares in the last quarter. Farther Finance Advisors LLC increased its stake in First Horizon by 29.9% during the fourth quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 591 shares during the last quarter. Independent Advisor Alliance raised its position in First Horizon by 1.1% during the fourth quarter. Independent Advisor Alliance now owns 57,730 shares of the financial services provider’s stock valued at $1,163,000 after purchasing an additional 632 shares during the period. Finally, Access Investment Management LLC raised its position in First Horizon by 0.8% during the fourth quarter. Access Investment Management LLC now owns 88,490 shares of the financial services provider’s stock valued at $1,782,000 after purchasing an additional 675 shares during the period. Institutional investors own 80.28% of the company’s stock.

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.