First Horizon (NYSE:FHN) Price Target Lowered to $18.50 at Evercore ISI

First Horizon (NYSE:FHN) had its target price cut by Evercore ISI from $19.50 to $18.50 in a research note published on Tuesday morning, Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

A number of other research analysts also recently issued reports on the stock. Raymond James downgraded shares of First Horizon from a strong-buy rating to an outperform rating and set a $18.00 price objective on the stock. in a research report on Thursday, July 18th. Robert W. Baird reissued a neutral rating and issued a $16.00 price target on shares of First Horizon in a research note on Tuesday, August 6th. StockNews.com upgraded shares of First Horizon from a sell rating to a hold rating in a report on Saturday, July 20th. Stephens started coverage on First Horizon in a report on Thursday, May 23rd. They set an overweight rating and a $19.00 target price on the stock. Finally, Keefe, Bruyette & Woods restated a market perform rating and issued a $18.00 target price on shares of First Horizon in a research note on Wednesday, July 17th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $17.38.

First Horizon Stock Performance

First Horizon stock opened at $15.97 on Tuesday. First Horizon has a 1-year low of $10.08 and a 1-year high of $17.46. The firm has a market cap of $8.73 billion, a P/E ratio of 11.17, a P/E/G ratio of 3.09 and a beta of 0.88. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average of $15.98 and a 200-day moving average of $15.44.

First Horizon (NYSE:FHN) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). First Horizon had a return on equity of 8.84% and a net margin of 14.03%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $819.82 million. During the same quarter in the prior year, the business posted $0.39 earnings per share. Sell-side analysts expect that First Horizon will post 1.46 EPS for the current year.

First Horizon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.76%. First Horizon’s dividend payout ratio is currently 41.96%.

Hedge Funds Weigh In On First Horizon

Several large investors have recently modified their holdings of FHN. Crestline Management LP increased its stake in First Horizon by 100.8% during the 4th quarter. Crestline Management LP now owns 400,000 shares of the financial services provider’s stock valued at $5,664,000 after purchasing an additional 200,846 shares in the last quarter. Sei Investments Co. raised its holdings in First Horizon by 57.6% in the 1st quarter. Sei Investments Co. now owns 426,792 shares of the financial services provider’s stock worth $6,573,000 after acquiring an additional 155,982 shares during the last quarter. LSV Asset Management lifted its position in First Horizon by 49.8% in the 1st quarter. LSV Asset Management now owns 13,333,738 shares of the financial services provider’s stock valued at $205,340,000 after acquiring an additional 4,434,929 shares in the last quarter. Greenlight Capital Inc. boosted its stake in First Horizon by 6.2% during the 4th quarter. Greenlight Capital Inc. now owns 1,377,090 shares of the financial services provider’s stock valued at $19,500,000 after purchasing an additional 80,070 shares during the last quarter. Finally, Point72 Europe London LLP bought a new stake in shares of First Horizon in the 4th quarter worth $6,785,000. Hedge funds and other 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.