Brokerages Set First Horizon Co. (NYSE:FHN) Price Target at $15.42

First Horizon Co. (NYSE:FHN) has received an average rating of “Moderate Buy” from the eight ratings firms that are covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $15.42.

Several research analysts have recently issued reports on the company. SpectralCast reaffirmed a “reinstates” rating on shares of First Horizon in a research report on Wednesday, June 28th. Royal Bank of Canada increased their price target on shares of First Horizon from $13.00 to $14.00 in a research note on Thursday, July 20th. StockNews.com began coverage on shares of First Horizon in a research report on Thursday, August 17th. They set a “sell” rating for the company. The Goldman Sachs Group began coverage on shares of First Horizon in a research report on Wednesday, June 28th. They issued a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. boosted their price target on shares of First Horizon from $13.00 to $13.50 in a research report on Thursday, June 29th.

First Horizon Price Performance

FHN stock opened at $11.45 on Friday. First Horizon has a 1 year low of $8.99 and a 1 year high of $24.92. The firm has a market capitalization of $6.40 billion, a P/E ratio of 6.06, a P/E/G ratio of 3.23 and a beta of 0.95. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.94 and a quick ratio of 0.93. The business’s 50-day moving average is $12.70 and its two-hundred day moving average is $13.85.

First Horizon (NYSE:FHN) last issued its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. First Horizon had a net margin of 24.64% and a return on equity of 13.44%. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $820.19 million. During the same quarter in the previous year, the firm earned $0.34 earnings per share. Analysts anticipate that First Horizon will post 1.46 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 5.24%. The ex-dividend date of this dividend is Thursday, September 14th. First Horizon’s payout ratio is currently 31.75%.

Hedge Funds Weigh In On First Horizon

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cetera Investment Advisers lifted its holdings in First Horizon by 3.2% in the 1st quarter. Cetera Investment Advisers now owns 15,738 shares of the financial services provider’s stock valued at $370,000 after purchasing an additional 491 shares in the last quarter. HB Wealth Management LLC lifted its stake in shares of First Horizon by 3.1% during the first quarter. HB Wealth Management LLC now owns 18,210 shares of the financial services provider’s stock valued at $324,000 after buying an additional 552 shares during the period. Blair William & Co. IL boosted its position in First Horizon by 2.1% during the first quarter. Blair William & Co. IL now owns 28,364 shares of the financial services provider’s stock worth $666,000 after acquiring an additional 575 shares during the last quarter. Nordea Investment Management AB grew its stake in First Horizon by 1.9% in the 1st quarter. Nordea Investment Management AB now owns 33,189 shares of the financial services provider’s stock worth $588,000 after acquiring an additional 624 shares during the period. Finally, Ausdal Financial Partners Inc. raised its holdings in First Horizon by 2.8% in the 2nd quarter. Ausdal Financial Partners Inc. now owns 28,513 shares of the financial services provider’s stock valued at $321,000 after acquiring an additional 781 shares during the last quarter. Hedge funds and other institutional investors own 76.44% of the company’s stock.

First Horizon Company Profile

First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial services. The company operates through three segments: Regional Banking, Specialty Banking, and Corporate. It offers general banking services for consumers, businesses, financial institutions, and governments.