Brokerages Set First Horizon Corporation (NYSE:FHN) PT at $23.09

Shares of First Horizon Corporation (NYSE:FHN) have earned an average rating of “Moderate Buy” from the seventeen analysts that are presently covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $23.28.

A number of equities analysts recently issued reports on the company. Truist Financial boosted their price objective on First Horizon from $21.00 to $23.00 and gave the company a “hold” rating in a report on Friday, July 11th. Royal Bank Of Canada reiterated an “outperform” rating and set a $24.00 target price (up from $22.00) on shares of First Horizon in a research report on Monday, June 9th. Citigroup upped their price target on shares of First Horizon from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday. Bank of America raised their price target on shares of First Horizon from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Wall Street Zen upgraded shares of First Horizon from a “sell” rating to a “hold” rating in a report on Friday.

Institutional Trading of First Horizon

Several large investors have recently bought and sold shares of the stock. Belpointe Asset Management LLC increased its holdings in shares of First Horizon by 3.1% in the fourth quarter. Belpointe Asset Management LLC now owns 17,631 shares of the financial services provider’s stock valued at $355,000 after purchasing an additional 535 shares during the period. HighTower Advisors LLC boosted its position in First Horizon by 1.0% in the first quarter. HighTower Advisors LLC now owns 60,510 shares of the financial services provider’s stock valued at $1,175,000 after buying an additional 575 shares during the last quarter. Farther Finance Advisors LLC boosted its position in 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 valued at $52,000 after buying an additional 591 shares during the last quarter. Signaturefd LLC increased its holdings in First Horizon by 4.8% in the 1st quarter. Signaturefd LLC now owns 13,878 shares of the financial services provider’s stock worth $270,000 after buying an additional 635 shares during the period. Finally, Thoroughbred Financial Services LLC raised its position in First Horizon by 4.8% during the 4th quarter. Thoroughbred Financial Services LLC now owns 14,621 shares of the financial services provider’s stock worth $294,000 after buying an additional 676 shares during the last quarter. Hedge funds and other institutional investors own 80.28% of the company’s stock.

First Horizon Stock Up 0.5%

Shares of NYSE:FHN opened at $22.33 on Wednesday. The company has a market cap of $11.33 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 1.09 and a beta of 0.61. First Horizon has a 12 month low of $14.34 and a 12 month high of $22.44. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average price of $20.56 and a 200 day moving average price of $19.99.

First Horizon (NYSE:FHN) last issued its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. The company had revenue of $830.19 million during the quarter, compared to the consensus estimate of $832.95 million. First Horizon had a return on equity of 10.55% and a net margin of 17.10%. During the same period last year, the company earned $0.36 earnings per share. As a group, equities research analysts predict that First Horizon will post 1.67 earnings per share for the current year.

First Horizon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.69%. The ex-dividend date was Friday, June 13th. First Horizon’s dividend payout ratio is currently 41.67%.

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.