First Horizon Corporation (NYSE:FHN) Receives Average Recommendation of “Hold” from Analysts

First Horizon Corporation (NYSE:FHN) has been assigned an average rating of “Hold” from the twenty-two brokerages that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, twelve have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $27.3333.

FHN has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their target price on shares of First Horizon from $28.50 to $27.00 and set a “neutral” rating on the stock in a research note on Thursday, July 16th. Wall Street Zen downgraded shares of First Horizon from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Weiss Ratings restated a “buy (b)” rating on shares of First Horizon in a report on Friday, September 4th. Fundamental Research set a $28.50 target price on shares of First Horizon in a report on Wednesday, July 1st. Finally, UBS Group reiterated a “buy” rating on shares of First Horizon in a research report on Thursday, July 16th.

Insiders Place Their Bets

In related news, EVP Elizabeth Ardoin sold 18,313 shares of First Horizon stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $24.85, for a total transaction of $455,078.05. Following the transaction, the executive vice president owned 340,368 shares of the company’s stock, valued at $8,458,144.80. This trade represents a 5.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.91% of the company’s stock.

Institutional Trading of First Horizon

Hedge funds have recently bought and sold shares of the stock. Bessemer Group Inc. increased its holdings in First Horizon by 0.3% during the 1st quarter. Bessemer Group Inc. now owns 138,920 shares of the financial services provider’s stock worth $3,162,000 after purchasing an additional 425 shares in the last quarter. Thoroughbred Financial Services LLC grew its stake in shares of First Horizon by 3.4% during the 4th quarter. Thoroughbred Financial Services LLC now owns 14,055 shares of the financial services provider’s stock worth $335,000 after acquiring an additional 457 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of First Horizon by 1.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 40,296 shares of the financial services provider’s stock worth $963,000 after acquiring an additional 507 shares in the last quarter. Summit Asset Management LLC raised its holdings in shares of First Horizon by 4.0% in the first quarter. Summit Asset Management LLC now owns 18,023 shares of the financial services provider’s stock valued at $410,000 after purchasing an additional 695 shares during the last quarter. Finally, Basecamp Wealth Advisors LLC raised its holdings in shares of First Horizon by 56.2% in the first quarter. Basecamp Wealth Advisors LLC now owns 2,073 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 746 shares during the last quarter. 80.28% of the stock is currently owned by institutional investors and hedge funds.

First Horizon Trading Down 0.3%

FHN stock opened at $23.93 on Monday. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.15. First Horizon has a twelve month low of $19.80 and a twelve month high of $26.56. The company has a market cap of $11.34 billion, a P/E ratio of 11.45, a PEG ratio of 0.95 and a beta of 0.60. The business has a fifty day moving average of $25.14 and a 200-day moving average of $24.43.

First Horizon (NYSE:FHN) last posted its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. The business had revenue of $887.00 million for the quarter, compared to analysts’ expectations of $878.42 million. First Horizon had a return on equity of 12.06% and a net margin of 21.12%.During the same quarter last year, the business earned $0.45 earnings per share. As a group, equities research analysts expect that First Horizon will post 2.15 EPS for the current year.

First Horizon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.8%. First Horizon’s payout ratio is 32.54%.

About First Horizon

First Horizon Corporation (NYSE:FHN) is a financial services company headquartered in Memphis, Tennessee. Through its principal subsidiary, First Horizon Bank, the company provides banking, lending and wealth management services to individuals, businesses and institutions.

Its consumer banking activities include checking and savings accounts, residential mortgages, personal loans, credit products and digital banking services. First Horizon also serves commercial customers with business deposits, commercial and industrial loans, real estate financing, treasury management and other specialized banking solutions.

The company offers investment, trust and advisory services through its wealth management operations and provides capital markets services, including investment banking, securities underwriting, fixed-income products and institutional sales and trading.