First Horizon Corporation (NYSE:FHN) Receives $26.45 Consensus PT from Brokerages

First Horizon Corporation (NYSE:FHN) has been assigned an average rating of “Hold” from the twenty-one ratings firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $26.4474.

A number of research firms recently commented on FHN. Zacks Research cut First Horizon from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 20th. Barclays reduced their price target on First Horizon from $30.00 to $29.00 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. DA Davidson restated a “neutral” rating and issued a $26.00 price target on shares of First Horizon in a research report on Thursday, April 16th. Weiss Ratings upgraded First Horizon from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday. Finally, JPMorgan Chase & Co. reduced their price target on First Horizon from $28.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, April 1st.

First Horizon Stock Down 0.1%

First Horizon stock opened at $24.71 on Friday. The stock has a market cap of $11.73 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 0.97 and a beta of 0.60. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.96 and a current ratio of 0.96. First Horizon has a one year low of $19.03 and a one year high of $26.56. The stock has a fifty day moving average of $24.12 and a 200 day moving average of $23.88.

First Horizon (NYSE:FHN) last posted its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. The company had revenue of $865.00 million during the quarter, compared to analysts’ expectations of $869.49 million. First Horizon had a return on equity of 11.65% and a net margin of 20.54%.First Horizon’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.42 earnings per share. As a group, sell-side analysts predict that First Horizon will post 2.16 EPS for the current year.

First Horizon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be given a $0.17 dividend. The ex-dividend date is Friday, June 12th. This represents a $0.68 dividend on an annualized basis and a yield of 2.8%. First Horizon’s dividend payout ratio is presently 34.00%.

Institutional Trading of First Horizon

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC increased its position in First Horizon by 29.4% in the first quarter. Parallel Advisors LLC now owns 3,740 shares of the financial services provider’s stock worth $85,000 after buying an additional 850 shares in the last quarter. Carlson Capital L.P. boosted its stake in shares of First Horizon by 98.3% in the first quarter. Carlson Capital L.P. now owns 57,702 shares of the financial services provider’s stock worth $1,313,000 after acquiring an additional 28,602 shares during the period. Alpine Woods Capital Investors LLC bought a new position in shares of First Horizon in the first quarter worth about $202,000. Summit Financial Wealth Advisors LLC boosted its stake in shares of First Horizon by 17.4% in the first quarter. Summit Financial Wealth Advisors LLC now owns 136,898 shares of the financial services provider’s stock worth $3,116,000 after acquiring an additional 20,317 shares during the period. Finally, Arete Wealth Advisors LLC bought a new position in shares of First Horizon in the first quarter worth about $43,483,000. Hedge funds and other institutional investors own 80.28% of the company’s stock.

About First Horizon

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.