Brokerages Set First Horizon Corporation (NYSE:FHN) PT at $27.16

First Horizon Corporation (NYSE:FHN) has received a consensus recommendation of “Hold” from the twenty ratings firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $27.1579.

Several equities research analysts recently commented on the company. Raymond James Financial boosted their target price on First Horizon from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. National Bank Financial set a $29.00 target price on shares of First Horizon in a report on Thursday, July 16th. Wall Street Zen cut First Horizon from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Fundamental Research set a $28.50 price objective on shares of First Horizon in a research report on Wednesday, July 1st. Finally, Truist Financial raised their price target on First Horizon from $26.00 to $27.00 and gave the stock a “hold” rating in a research note on Friday, July 10th.

First Horizon Stock Performance

FHN stock opened at $25.45 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.96 and a current ratio of 0.97. The stock’s fifty day moving average is $25.08 and its two-hundred day moving average is $24.35. The stock has a market capitalization of $12.08 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 1.02 and a beta of 0.60. First Horizon has a 1 year low of $19.80 and a 1 year high of $26.56.

First Horizon (NYSE:FHN) last posted its earnings results on Wednesday, July 15th. The financial services provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.52 by $0.02. First Horizon had a net margin of 21.12% and a return on equity of 12.06%. The firm had revenue of $890.00 million during the quarter, compared to analysts’ expectations of $878.42 million. During the same quarter in the prior year, the firm earned $0.45 EPS. On average, research analysts predict that First Horizon will post 2.15 EPS for the current year.

First Horizon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, September 11th. First Horizon’s dividend payout ratio is presently 32.54%.

Institutional Trading of First Horizon

Institutional investors and hedge funds have recently modified their holdings of the company. Kestra Investment Management LLC lifted its position in First Horizon by 873.1% during the 2nd quarter. Kestra Investment Management LLC now owns 1,625 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 1,458 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in 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 period. Basecamp Wealth Advisors LLC lifted its holdings in shares of First Horizon by 56.2% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 2,073 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 746 shares during the period. Cary Street Partners Investment Advisory LLC boosted its holdings in First Horizon by 1,348.2% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 2,013 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 1,874 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in First Horizon in the 4th quarter valued at $51,000. 80.28% of the stock is currently owned by institutional investors and hedge funds.

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.