First Horizon Co. Plans Quarterly Dividend of $0.15 (NYSE:FHN)

First Horizon Co. (NYSE:FHN) declared a quarterly dividend on Tuesday, January 28th,RTT News reports. Stockholders of record on Friday, March 14th will be paid a dividend of 0.15 per share by the financial services provider on Tuesday, April 1st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.82%.

First Horizon has a payout ratio of 31.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect First Horizon to earn $1.84 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 32.6%.

First Horizon Stock Up 0.4 %

FHN traded up $0.10 during trading on Tuesday, hitting $21.30. The stock had a trading volume of 6,330,933 shares, compared to its average volume of 5,891,620. First Horizon has a twelve month low of $13.45 and a twelve month high of $21.82. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96. The company has a market capitalization of $11.29 billion, a PE ratio of 15.66, a PEG ratio of 1.19 and a beta of 0.92. The stock has a 50 day simple moving average of $20.55 and a two-hundred day simple moving average of $17.94.

First Horizon (NYSE:FHN) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.05. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. During the same period in the previous year, the business earned $0.32 earnings per share. On average, research analysts predict that First Horizon will post 1.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FHN. Royal Bank of Canada increased their target price on shares of First Horizon from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Evercore ISI raised their price objective on First Horizon from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Robert W. Baird set a $17.00 price objective on First Horizon in a report on Thursday, October 17th. Keefe, Bruyette & Woods raised their price target on shares of First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. Finally, Raymond James increased their price target on First Horizon from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, First Horizon presently has a consensus rating of “Moderate Buy” and an average target price of $22.04.

First Horizon declared that its board has authorized a stock repurchase program on Tuesday, October 29th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 10.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at First Horizon

In related news, EVP David T. Popwell sold 100,974 shares of First Horizon stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $19.77, for a total transaction of $1,996,255.98. Following the completion of the transaction, the executive vice president now directly owns 519,926 shares of the company’s stock, valued at approximately $10,278,937.02. The trade was a 16.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Harry V. Barton, Jr. sold 10,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $19.92, for a total value of $199,200.00. Following the completion of the transaction, the director now owns 166,840 shares of the company’s stock, valued at approximately $3,323,452.80. This represents a 5.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 220,954 shares of company stock worth $4,519,333 over the last ninety days. 0.87% of the stock is currently owned by company insiders.

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.