First Horizon (NYSE:FHN) Price Target Raised to $25.00

First Horizon (NYSE:FHN) had its price target hoisted by Wells Fargo & Company from $23.00 to $25.00 in a research report sent to investors on Monday,Benzinga reports. The firm currently has an equal weight rating on the financial services provider’s stock.

Other research analysts also recently issued reports about the company. Royal Bank Of Canada reiterated an “outperform” rating and issued a $28.00 price target on shares of First Horizon in a report on Monday, January 12th. The Goldman Sachs Group set a $27.00 price objective on First Horizon and gave the stock a “neutral” rating in a report on Tuesday, January 6th. Keefe, Bruyette & Woods lifted their price objective on First Horizon from $24.00 to $25.00 and gave the company a “market perform” rating in a research report on Friday, January 16th. Raymond James Financial upped their target price on First Horizon from $23.00 to $27.00 and gave the company an “outperform” rating in a research note on Wednesday, January 7th. Finally, Weiss Ratings downgraded First Horizon from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, March 17th. Nine investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $26.71.

First Horizon Stock Performance

Shares of NYSE FHN opened at $22.99 on Monday. The company has a 50-day simple moving average of $23.78 and a 200-day simple moving average of $23.08. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.96 and a quick ratio of 0.95. The company has a market cap of $10.98 billion, a PE ratio of 12.23, a price-to-earnings-growth ratio of 0.86 and a beta of 0.62. First Horizon has a 12 month low of $15.19 and a 12 month high of $26.56.

First Horizon (NYSE:FHN) last announced its quarterly earnings data on Thursday, January 15th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.06. First Horizon had a net margin of 19.67% and a return on equity of 11.21%. The business had revenue of $892.00 million for the quarter, compared to the consensus estimate of $863.87 million. During the same quarter in the prior year, the firm posted $0.43 earnings per share. On average, equities analysts anticipate that First Horizon will post 1.67 earnings per share for the current year.

First Horizon Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th were issued a $0.17 dividend. This is a boost from First Horizon’s previous quarterly dividend of $0.15. The ex-dividend date was Friday, March 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.0%. First Horizon’s dividend payout ratio (DPR) is 36.17%.

Insider Activity

In other news, EVP Anthony J. Restel sold 5,719 shares of the business’s stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $24.35, for a total transaction of $139,257.65. Following the completion of the sale, the executive vice president directly owned 619,132 shares of the company’s stock, valued at $15,075,864.20. The trade was a 0.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.91% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of First Horizon by 313.2% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 62,164 shares of the financial services provider’s stock valued at $1,406,000 after purchasing an additional 47,119 shares in the last quarter. First Horizon Corp purchased a new stake in shares of First Horizon during the 3rd quarter worth about $2,361,000. Allianz Asset Management GmbH acquired a new stake in First Horizon during the 3rd quarter worth approximately $6,416,000. Voya Investment Management LLC increased its position in First Horizon by 301.4% during the 3rd quarter. Voya Investment Management LLC now owns 229,860 shares of the financial services provider’s stock worth $5,197,000 after purchasing an additional 172,599 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in First Horizon in the third quarter valued at approximately $1,211,000. 80.28% of the stock is owned by hedge funds and other institutional investors.

First Horizon Company Profile

First Horizon Corporation, headquartered in Memphis, Tennessee, is a diversified financial services company providing an array of retail, commercial and wealth management solutions. As the largest bank-based financial services firm in Tennessee, First Horizon operates through a network of branches and digital platforms across the Southeastern United States, offering personal and business banking, mortgage origination and servicing, payment solutions and treasury management services.

Tracing its origins to the First National Bank of Memphis established in 1864, First Horizon has grown through strategic acquisitions and organic expansion to serve customers in Tennessee, Texas, North Carolina, South Carolina, Georgia and Florida.