First Horizon (NYSE:FHN) Raised to Outperform at Robert W. Baird

Robert W. Baird upgraded shares of First Horizon (NYSE:FHN) from a neutral rating to an outperform rating in a research note released on Monday morning, MarketBeat.com reports. The firm currently has $22.00 price objective on the financial services provider’s stock.

A number of other research firms have also issued reports on FHN. Royal Bank of Canada upped their target price on shares of First Horizon from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Barclays raised their target price on shares of First Horizon from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. StockNews.com downgraded First Horizon from a “hold” rating to a “sell” rating in a report on Monday, March 31st. JPMorgan Chase & Co. raised their price objective on First Horizon from $22.50 to $23.50 and gave the stock a “neutral” rating in a report on Friday, January 17th. Finally, Citigroup upped their target price on First Horizon from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, First Horizon has an average rating of “Moderate Buy” and a consensus price target of $22.57.

First Horizon Trading Up 1.9 %

Shares of First Horizon stock opened at $16.51 on Monday. First Horizon has a 1 year low of $13.72 and a 1 year high of $22.44. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95. The business has a 50 day moving average price of $20.27 and a 200 day moving average price of $19.45. The company has a market capitalization of $8.49 billion, a P/E ratio of 12.14, a P/E/G ratio of 1.19 and a beta of 0.60.

First Horizon (NYSE:FHN) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share 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 business earned $0.32 earnings per share. Sell-side analysts anticipate that First Horizon will post 1.67 EPS for the current fiscal year.

First Horizon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a dividend of $0.15 per share. The ex-dividend date was Friday, March 14th. This represents a $0.60 annualized dividend and a yield of 3.63%. First Horizon’s dividend payout ratio is currently 44.12%.

Insider Buying and Selling at First Horizon

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the company’s stock in a transaction dated 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 directly owns 1,861,381 shares of the company’s stock, valued at $39,330,980.53. This represents a 5.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.87% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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

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.