Analysts Set First Horizon Corporation (NYSE:FHN) PT at $26.66

First Horizon Corporation (NYSE:FHN) has been assigned a consensus rating of “Moderate Buy” from the twenty analysts that are covering the stock, Marketbeat Ratings reports. Ten analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $26.6579.

Several research analysts have commented on the stock. Citigroup lifted their price target on shares of First Horizon from $28.00 to $28.50 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of First Horizon in a report on Monday, December 29th. Truist Financial set a $27.00 price target on shares of First Horizon in a research note on Friday, January 9th. Deutsche Bank Aktiengesellschaft initiated coverage on First Horizon in a research note on Tuesday, December 16th. They set a “buy” rating and a $28.00 price objective on the stock. Finally, UBS Group reissued a “buy” rating and issued a $29.00 target price on shares of First Horizon in a research note on Wednesday, February 4th.

Insider Activity

In related news, EVP Anthony J. Restel sold 5,719 shares of First Horizon stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $24.35, for a total value of $139,257.65. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.04% of the company’s stock.

Institutional Investors Weigh In On First Horizon

Large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its stake in shares of First Horizon by 102.5% during the first quarter. Goldman Sachs Group Inc. now owns 1,709,434 shares of the financial services provider’s stock valued at $33,197,000 after acquiring an additional 865,109 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of First Horizon by 156.7% in the first quarter. Geneos Wealth Management Inc. now owns 1,794 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 1,095 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in First Horizon by 6.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 106,607 shares of the financial services provider’s stock valued at $2,260,000 after purchasing an additional 6,648 shares during the period. Hantz Financial Services Inc. raised its position in First Horizon by 1,579.8% during the 2nd quarter. Hantz Financial Services Inc. now owns 2,083 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 1,959 shares during the last quarter. Finally, Strs Ohio lifted its holdings in First Horizon by 7.3% in the 2nd quarter. Strs Ohio now owns 346,908 shares of the financial services provider’s stock worth $7,354,000 after buying an additional 23,503 shares during the period. Institutional investors own 80.28% of the company’s stock.

First Horizon Trading Up 1.6%

NYSE FHN opened at $24.16 on Thursday. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.15. The stock’s 50-day simple moving average is $24.59 and its two-hundred day simple moving average is $23.07. First Horizon has a twelve month low of $15.19 and a twelve month high of $26.56. The company has a market capitalization of $11.68 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 0.90 and a beta of 0.61.

First Horizon (NYSE:FHN) last announced its quarterly earnings data on Thursday, January 15th. The financial services provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.46 by $0.06. The firm had revenue of $888.00 million for the quarter, compared to analyst estimates of $863.87 million. First Horizon had a return on equity of 11.21% and a net margin of 19.67%.During the same period in the prior year, the company earned $0.43 EPS. Research analysts forecast that First Horizon will post 1.67 EPS for the current fiscal year.

First Horizon Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.8%. This is a boost from First Horizon’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, March 13th. First Horizon’s payout ratio is currently 31.91%.

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.