First Horizon Corporation (FHN) to Issue Quarterly Dividend of $0.17 on January 4th

First Horizon Corporation (NYSE:FHN) announced a quarterly dividend on Monday, October 26th. Shareholders of record on Friday, December 11th will be paid a dividend of $0.17 per share by the financial services provider on Monday, January 4th. This represents a $0.68 annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, December 11th.

First Horizon has a payout ratio of 36.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect First Horizon to earn $2.36 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 28.8%.

First Horizon Stock Down 0.4%

Shares of NYSE FHN opened at $23.34 on Wednesday. First Horizon has a 12 month low of $20.40 and a 12 month high of $26.56. The company has a market cap of $11.06 billion, a price-to-earnings ratio of 16.80 and a beta of 0.61. The business has a fifty day simple moving average of $23.81 and a 200-day simple moving average of $24.30.

First Horizon (NYSE:FHN) last released its quarterly earnings data on Thursday, October 15th. The financial services provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.01. The company had revenue of $883.00 million during the quarter, compared to analyst estimates of $889.18 million. During the same quarter in the prior year, the company posted $0.51 EPS. As a group, sell-side analysts expect that First Horizon will post 2.14 EPS for the current fiscal year.

Analysts Set New Price Targets

FHN has been the subject of a number of research analyst reports. Fundamental Research set a $28.50 price target on First Horizon in a report on Wednesday, July 1st. Citigroup lowered their price objective on shares of First Horizon from $28.50 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, September 22nd. National Bank Financial set a $30.00 target price on shares of First Horizon in a research report on Tuesday, September 8th. Wells Fargo & Company cut their target price on shares of First Horizon from $28.00 to $25.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 30th. Finally, Truist Financial increased their price target on shares of First Horizon from $25.00 to $26.00 and gave the company a “hold” rating in a report on Monday, October 19th. Eight equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $27.07.

First Horizon Company Profile

First Horizon Corporation is a financial services company headquartered in Memphis, Tennessee, and the parent company of First Horizon Bank. The company provides banking and financial services to individuals, businesses, institutions and government entities through a network serving communities primarily across the southeastern United States.

Its offerings include consumer and commercial deposit accounts, residential and commercial lending, treasury management, payment services, personal and business banking, and wealth management.