Analysts Set First Horizon Co. (NYSE:FHN) PT at $16.15

First Horizon Co. (NYSE:FHN) has received a consensus rating of “Moderate Buy” from the fourteen brokerages that are covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $16.15.

A number of equities research analysts have weighed in on the stock. StockNews.com raised shares of First Horizon from a “sell” rating to a “hold” rating in a report on Friday, April 19th. Wells Fargo & Company raised their target price on First Horizon from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. Barclays initiated coverage on First Horizon in a research note on Friday, March 8th. They issued an “overweight” rating and a $18.00 price target for the company. Royal Bank of Canada raised shares of First Horizon from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $16.00 to $18.00 in a research report on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods upgraded shares of First Horizon from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $16.00 to $18.00 in a research report on Friday, April 5th.

Institutional Trading of First Horizon

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Macroview Investment Management LLC bought a new stake in First Horizon during the third quarter worth $25,000. Rise Advisors LLC purchased a new stake in shares of First Horizon in the first quarter valued at about $25,000. Raleigh Capital Management Inc. purchased a new position in First Horizon during the fourth quarter worth about $28,000. Fortitude Family Office LLC grew its position in First Horizon by 129.3% in the 1st quarter. Fortitude Family Office LLC now owns 1,954 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 1,102 shares in the last quarter. Finally, Richardson Financial Services Inc. purchased a new stake in First Horizon in the 4th quarter valued at about $35,000. 80.28% of the stock is owned by institutional investors.

First Horizon Price Performance

Shares of NYSE:FHN opened at $14.81 on Monday. The firm has a 50 day simple moving average of $14.64 and a 200 day simple moving average of $13.57. The company has a market cap of $8.22 billion, a price-to-earnings ratio of 10.36, a PEG ratio of 4.07 and a beta of 0.94. First Horizon has a one year low of $8.99 and a one year high of $17.82. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.95.

First Horizon (NYSE:FHN) last issued its earnings results on Wednesday, April 17th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The business had revenue of $819.00 million during the quarter, compared to analysts’ expectations 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 for the quarter was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.46 EPS. Research analysts predict that First Horizon will post 1.5 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date of this dividend is Friday, June 14th. First Horizon’s dividend payout ratio (DPR) is 41.96%.

First Horizon announced that its board has authorized a share buyback program on Tuesday, January 23rd that allows the company to repurchase $650.00 million in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 7.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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.