First Horizon Co. (NYSE:FHN) Receives Average Rating of “Moderate Buy” from Brokerages

First Horizon Co. (NYSE:FHN) has been assigned a consensus rating of “Moderate Buy” from the fifteen research firms that are covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating and nine have given a 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 $22.23.

FHN has been the subject of several recent research reports. Wells Fargo & Company increased their price target on First Horizon from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. UBS Group initiated coverage on First Horizon in a research note on Tuesday, December 17th. They issued a “buy” rating and a $25.00 price target for the company. Barclays increased their price target on First Horizon from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Citigroup increased their price target on First Horizon from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Finally, The Goldman Sachs Group increased their price target on First Horizon from $18.50 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th.

First Horizon Price Performance

Shares of FHN opened at $19.21 on Thursday. First Horizon has a 12-month low of $13.72 and a 12-month high of $22.44. The business has a 50-day simple moving average of $20.85 and a two-hundred day simple moving average of $19.16. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. The stock has a market cap of $10.02 billion, a PE ratio of 14.12, a PEG ratio of 1.19 and a beta of 0.86.

First Horizon (NYSE:FHN) last issued its earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.05. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. During the same period in the previous year, the firm posted $0.32 earnings per share. Analysts anticipate that First Horizon will post 1.67 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.15 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.60 annualized dividend and a yield of 3.12%. First Horizon’s payout ratio is currently 44.12%.

Insiders Place Their Bets

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $21.13, for a total value of $2,323,877.40. Following the transaction, the chief executive officer now owns 1,861,381 shares in the company, valued at approximately $39,330,980.53. This represents a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FHN. Concurrent Investment Advisors LLC bought a new position in First Horizon in the third quarter worth approximately $174,000. Covestor Ltd raised its stake in shares of First Horizon by 44.0% in the third quarter. Covestor Ltd now owns 2,130 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 651 shares during the last quarter. State of New Jersey Common Pension Fund D raised its stake in shares of First Horizon by 7.2% in the third quarter. State of New Jersey Common Pension Fund D now owns 171,104 shares of the financial services provider’s stock worth $2,657,000 after purchasing an additional 11,492 shares during the last quarter. Apollon Wealth Management LLC purchased a new stake in shares of First Horizon in the third quarter worth approximately $827,000. Finally, GSA Capital Partners LLP raised its stake in shares of First Horizon by 99.8% in the third quarter. GSA Capital Partners LLP now owns 122,425 shares of the financial services provider’s stock worth $1,901,000 after purchasing an additional 61,150 shares during the last quarter. Institutional investors own 80.28% of the company’s stock.

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.