First Horizon Co. (NYSE:FHN) Given Average Rating of “Moderate Buy” by Analysts

First Horizon Co. (NYSE:FHN) has earned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $16.15.

A number of research firms have recently issued reports on FHN. Barclays assumed coverage on shares of First Horizon in a research report on Friday, March 8th. They issued an “overweight” rating and a $18.00 price target on the stock. StockNews.com raised First Horizon from a “sell” rating to a “hold” rating in a report on Friday. Keefe, Bruyette & Woods raised First Horizon from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $16.00 to $18.00 in a report on Friday, April 5th. Robert W. Baird upped their price objective on First Horizon from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, UBS Group raised First Horizon from a “neutral” rating to a “buy” rating and increased their target price for the stock from $15.50 to $16.00 in a research report on Wednesday, January 24th.

Hedge Funds Weigh In On First Horizon

Hedge funds have recently modified their holdings of the company. First Trust Direct Indexing L.P. boosted its position in shares of First Horizon by 6.5% during the 1st quarter. First Trust Direct Indexing L.P. now owns 12,623 shares of the financial services provider’s stock valued at $194,000 after purchasing an additional 765 shares in the last quarter. DMC Group LLC boosted its holdings in First Horizon by 27.7% during the first quarter. DMC Group LLC now owns 18,023 shares of the financial services provider’s stock worth $278,000 after buying an additional 3,912 shares in the last quarter. Norden Group LLC bought a new stake in First Horizon during the first quarter worth approximately $744,000. Sumitomo Mitsui Trust Holdings Inc. grew its position in First Horizon by 24.2% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 33,400 shares of the financial services provider’s stock worth $514,000 after buying an additional 6,500 shares during the last quarter. Finally, State of Michigan Retirement System increased its holdings in shares of First Horizon by 2.4% in the first quarter. State of Michigan Retirement System now owns 137,256 shares of the financial services provider’s stock valued at $2,114,000 after buying an additional 3,200 shares in the last quarter. 80.28% of the stock is currently owned by institutional investors and hedge funds.

First Horizon Trading Up 2.5 %

NYSE:FHN opened at $14.63 on Monday. The company has a market cap of $8.12 billion, a PE ratio of 10.23, a P/E/G ratio of 4.03 and a beta of 0.94. The business’s 50 day moving average is $14.55 and its two-hundred day moving average is $13.41. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 0.13. First Horizon has a 52 week low of $8.99 and a 52 week high of $18.99.

First Horizon (NYSE:FHN) last posted its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. The business had revenue of $819.00 million for the quarter, compared to analyst estimates of $809.51 million. First Horizon had a return on equity of 8.96% and a net margin of 16.07%. The business’s revenue was down 4.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.46 EPS. On average, analysts predict that First Horizon will post 1.5 EPS for the current year.

First Horizon declared that its board has approved a share buyback plan on Tuesday, January 23rd that authorizes the company to buyback $650.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 7.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

First Horizon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date of this dividend was Thursday, March 14th. First Horizon’s dividend payout ratio is currently 41.96%.

About First Horizon

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