First Horizon Corporation (NYSE:FHN) Stock Has Consensus Target Price of $27.07

Shares of First Horizon Corporation (NYSE:FHN) have earned an average rating of “Hold” from the twenty-one analysts that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $27.07.

FHN has been the topic of several research analyst reports. Wells Fargo & Company cut their target price on shares of First Horizon from $28.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 30th. UBS Group reiterated a “buy” rating on shares of First Horizon in a report on Thursday, July 16th. Evercore reiterated a “hold” rating and set a $25.00 price objective on shares of First Horizon in a report on Thursday, October 1st. Hovde Group assumed coverage on shares of First Horizon in a research report on Thursday, September 17th. They set a “market perform” rating and a $25.00 price objective on the stock. Finally, Weiss Ratings restated a “buy (b)” rating on shares of First Horizon in a research note on Friday, September 4th.

Insider Transactions at First Horizon

In other First Horizon news, EVP Elizabeth Ardoin sold 18,313 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $24.85, for a total value of $455,078.05. Following the completion of the sale, the executive vice president owned 340,368 shares of the company’s stock, valued at approximately $8,458,144.80. This trade represents a 5.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.91% of the company’s stock.

Hedge Funds Weigh In On First Horizon

A number of institutional investors have recently modified their holdings of the company. William Blair Investment Management LLC raised its holdings in First Horizon by 16.0% during the third quarter. William Blair Investment Management LLC now owns 5,576,059 shares of the financial services provider’s stock worth $128,361,000 after buying an additional 767,836 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of First Horizon by 7.1% during the third quarter. Fisher Asset Management LLC now owns 1,416,567 shares of the financial services provider’s stock valued at $32,609,000 after buying an additional 93,562 shares during the last quarter. Maryland State Retirement & Pension System grew its holdings in shares of First Horizon by 19.9% during the third quarter. Maryland State Retirement & Pension System now owns 29,851 shares of the financial services provider’s stock valued at $687,000 after buying an additional 4,949 shares during the last quarter. Cherokee Insurance Co grew its holdings in shares of First Horizon by 2.9% during the third quarter. Cherokee Insurance Co now owns 175,000 shares of the financial services provider’s stock valued at $4,028,000 after buying an additional 5,000 shares during the last quarter. Finally, Jefferies Financial Group Inc. increased its position in shares of First Horizon by 72.4% during the third quarter. Jefferies Financial Group Inc. now owns 40,000 shares of the financial services provider’s stock worth $921,000 after acquiring an additional 16,804 shares in the last quarter. 80.28% of the stock is owned by institutional investors and hedge funds.

First Horizon Price Performance

First Horizon stock opened at $23.05 on Tuesday. The stock has a market capitalization of $10.92 billion, a price-to-earnings ratio of 16.58, a PEG ratio of 0.96 and a beta of 0.62. First Horizon has a 52-week low of $20.40 and a 52-week high of $26.56. The stock’s 50 day moving average price is $23.59 and its two-hundred day moving average price is $24.27. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 0.97.

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. First Horizon had a net margin of 14.35% and a return on equity of 12.24%. During the same quarter in the previous year, the business posted $0.51 EPS. On average, equities analysts predict that First Horizon will post 2.14 earnings per share for the current year.

First Horizon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Friday, December 11th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Friday, December 11th. First Horizon’s dividend payout ratio is 48.92%.

About First Horizon

First Horizon Corporation is a regional financial services company headquartered in Memphis, Tennessee, and the parent of First Horizon Bank. Its banking roots date to 1864, when the First National Bank of Memphis was established.

Through its banking operations, First Horizon serves consumers, businesses and institutions across the southeastern United States and Texas. Its services include consumer and commercial banking, lending, treasury and payment solutions, and wealth management.

The company also provides specialized financial services, including capital markets and fixed-income services, as well as mortgage banking.