First Horizon Corporation (NYSE:FHN) Receives $26.45 Consensus Target Price from Analysts

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

A number of equities research analysts recently weighed in on FHN shares. DA Davidson reaffirmed a “neutral” rating and set a $26.00 price target on shares of First Horizon in a report on Thursday, April 16th. Citigroup raised their price target on First Horizon from $28.00 to $28.50 and gave the company a “buy” rating in a report on Tuesday, February 24th. Weiss Ratings raised First Horizon from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday. Zacks Research cut First Horizon from a “strong-buy” rating to a “hold” rating in a report on Friday, March 20th. Finally, Keefe, Bruyette & Woods raised their price target on First Horizon from $25.00 to $26.00 and gave the company a “market perform” rating in a report on Thursday, April 16th.

First Horizon Trading Up 0.6%

Shares of FHN opened at $25.14 on Friday. First Horizon has a 1 year low of $19.03 and a 1 year high of $26.56. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.15. The stock has a 50 day simple moving average of $24.21 and a 200-day simple moving average of $23.91. The stock has a market cap of $11.93 billion, a PE ratio of 12.57, a PEG ratio of 0.98 and a beta of 0.60.

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

First Horizon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, June 12th. First Horizon’s dividend payout ratio (DPR) is currently 34.00%.

Institutional Investors Weigh In On First Horizon

Hedge funds and other institutional investors have recently bought and sold shares of the business. Atlantic Union Bankshares Corp bought a new position in First Horizon in the 3rd quarter valued at $25,000. Kestra Investment Management LLC boosted its position in First Horizon by 873.1% in the 2nd quarter. Kestra Investment Management LLC now owns 1,625 shares of the financial services provider’s stock valued at $34,000 after buying an additional 1,458 shares during the last quarter. TD Waterhouse Canada Inc. boosted its position in First Horizon by 122.3% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 1,636 shares of the financial services provider’s stock valued at $37,000 after buying an additional 900 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in First Horizon by 156.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,794 shares of the financial services provider’s stock valued at $35,000 after buying an additional 1,095 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC boosted its position in First Horizon by 1,348.2% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 2,013 shares of the financial services provider’s stock valued at $48,000 after buying an additional 1,874 shares during the last quarter. 80.28% of the stock is 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.