First Horizon Co. (NYSE:FHN) Receives $16.15 Average Price Target from Brokerages

First Horizon Co. (NYSE:FHN) has been assigned a consensus rating of “Moderate Buy” from the fourteen analysts that are covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $16.15.

Several equities analysts have commented on FHN shares. Wedbush reissued an “outperform” rating and set a $17.00 price objective on shares of First Horizon in a research report on Wednesday, April 10th. Royal Bank of Canada raised shares of First Horizon from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $16.00 to $18.00 in a research note on Tuesday, April 9th. Wells Fargo & Company raised their price target on First Horizon from $14.00 to $16.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. StockNews.com raised shares of First Horizon from a “sell” rating to a “hold” rating in a research report on Friday, April 19th. Finally, Evercore ISI upped their target price on shares of First Horizon from $17.00 to $17.50 and gave the stock an “outperform” rating in a research note on Thursday, March 28th.

First Horizon Stock Up 0.1 %

Shares of First Horizon stock opened at $14.81 on Monday. The company’s fifty day simple moving average is $14.64 and its two-hundred day simple moving average is $13.57. The company has a market cap of $8.22 billion, a P/E ratio of 10.36, a PEG ratio of 4.07 and a beta of 0.94. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.13. First Horizon has a 12-month low of $8.99 and a 12-month high of $17.82.

First Horizon (NYSE:FHN) last posted its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. The business had revenue of $819.00 million for the quarter, compared to analysts’ expectations of $809.51 million. First Horizon had a return on equity of 8.96% and a net margin of 16.07%. The business’s revenue was down 4.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.46 EPS. Research analysts anticipate that First Horizon will post 1.5 EPS for the current year.

First Horizon announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, January 23rd that allows the company to buyback $650.00 million in shares. This buyback authorization allows the financial services provider to purchase up to 7.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

First Horizon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.05%. The ex-dividend date is Friday, June 14th. First Horizon’s payout ratio is currently 41.96%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Macroview Investment Management LLC bought a new position in First Horizon in the 3rd quarter worth $25,000. Rise Advisors LLC purchased a new stake in First Horizon in the 1st quarter worth approximately $25,000. Raleigh Capital Management Inc. bought a new position in shares of First Horizon in the fourth quarter worth approximately $28,000. Fortitude Family Office LLC increased its stake in shares of First Horizon by 129.3% in the first quarter. Fortitude Family Office LLC now owns 1,954 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 1,102 shares in the last quarter. Finally, Richardson Financial Services Inc. purchased a new position in shares of First Horizon during the 4th quarter valued at $35,000. 80.28% of the stock is currently owned by institutional investors.

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.