First Horizon (NYSE:FHN) Stock Rating Upgraded by Baird R W

Baird R W upgraded shares of First Horizon (NYSE:FHN) from a hold rating to a strong-buy rating in a report published on Monday morning,Zacks.com reports.

A number of other analysts have also commented on the stock. Keefe, Bruyette & Woods boosted their price target on shares of First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. UBS Group began coverage on shares of First Horizon in a report on Tuesday, December 17th. They set a “buy” rating and a $25.00 price objective for the company. JPMorgan Chase & Co. upped 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. Barclays raised their price target on shares of First Horizon from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Finally, Stephens reissued an “overweight” rating and set a $24.00 price objective on shares of First Horizon in a report on Friday, January 17th. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.30.

First Horizon Stock Performance

Shares of FHN opened at $18.06 on Monday. First Horizon has a one year low of $13.72 and a one year high of $22.44. The company has a market cap of $9.29 billion, a PE ratio of 13.28, a P/E/G ratio of 1.19 and a beta of 0.60. The stock has a 50-day moving average of $19.91 and a 200-day moving average of $19.44. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95.

First Horizon (NYSE:FHN) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the company earned $0.32 EPS. On average, equities research analysts predict that First Horizon will post 1.67 EPS for the current fiscal year.

First Horizon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date was Friday, March 14th. First Horizon’s payout ratio is 44.12%.

Insider Buying and Selling

In related news, CEO D Bryan Jordan sold 109,980 shares of First Horizon stock in a transaction that occurred on 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 sale, the chief executive officer now owns 1,861,381 shares of the company’s stock, valued at approximately $39,330,980.53. The trade was a 5.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.87% of the stock is owned by insiders.

Institutional Trading of First Horizon

A number of large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its position in shares of First Horizon by 26.2% during the 4th quarter. Bank of New York Mellon Corp now owns 37,131,162 shares of the financial services provider’s stock valued at $747,822,000 after buying an additional 7,715,191 shares during the last quarter. State Street Corp raised its stake in First Horizon by 18.6% in the 3rd quarter. State Street Corp now owns 26,236,784 shares of the financial services provider’s stock valued at $410,789,000 after acquiring an additional 4,116,486 shares during the period. Millennium Management LLC lifted its holdings in First Horizon by 102.3% during the fourth quarter. Millennium Management LLC now owns 21,285,306 shares of the financial services provider’s stock valued at $428,686,000 after purchasing an additional 10,763,349 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in First Horizon by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 19,869,403 shares of the financial services provider’s stock worth $400,173,000 after purchasing an additional 97,429 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of First Horizon by 0.7% in the third quarter. Geode Capital Management LLC now owns 9,346,924 shares of the financial services provider’s stock worth $145,194,000 after purchasing an additional 61,397 shares in the last quarter. 80.28% of the stock is owned by hedge funds and other institutional investors.

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.