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

Shares of First Horizon Co. (NYSE:FHN) have received a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $22.03.

Several research firms have commented on FHN. Raymond James cut their price objective on First Horizon from $23.00 to $22.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. boosted their price target on First Horizon from $22.50 to $23.50 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Royal Bank of Canada dropped their price objective on shares of First Horizon from $24.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, April 17th. Robert W. Baird upgraded First Horizon from a “neutral” rating to an “outperform” rating and set a $22.00 target price for the company in a research note on Monday, April 7th. Finally, Bank of America lifted their price target on shares of First Horizon from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, April 17th.

First Horizon Price Performance

FHN stock opened at $18.29 on Friday. The stock has a market capitalization of $9.40 billion, a price-to-earnings ratio of 13.44, a price-to-earnings-growth ratio of 1.19 and a beta of 0.60. The stock’s fifty day simple moving average is $18.49 and its 200-day simple moving average is $19.62. First Horizon has a 52-week low of $14.09 and a 52-week high of $22.44. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14.

First Horizon (NYSE:FHN) last posted its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. The firm had revenue of $823.69 million during the quarter, compared to the consensus estimate of $825.11 million. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. During the same quarter in the previous year, the business earned $0.35 earnings per share. Equities research analysts expect that First Horizon will post 1.67 EPS for the current year.

First Horizon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend is Friday, June 13th. First Horizon’s payout ratio is 41.67%.

Hedge Funds Weigh In On First Horizon

Institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in First Horizon by 160.1% in the 4th quarter. JPMorgan Chase & Co. now owns 5,524,827 shares of the financial services provider’s stock worth $111,270,000 after purchasing an additional 3,400,811 shares during the last quarter. First Citizens Bank & Trust Co. acquired a new stake in First Horizon in the 4th quarter valued at approximately $304,000. Merit Financial Group LLC bought a new stake in First Horizon during the 4th quarter valued at $453,000. Smith Group Asset Management LLC acquired a new position in First Horizon during the 4th quarter worth $1,813,000. Finally, Atria Investments Inc bought a new position in shares of First Horizon in the fourth quarter worth $442,000. Institutional investors own 80.28% 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 Regional Banking and Specialty Banking segments. It offers general banking services for consumers, businesses, financial institutions, and governments.