Brokerages Set First Horizon Co. (NYSE:FHN) Price Target at $17.38

First Horizon Co. (NYSE:FHN) has been assigned a consensus rating of “Moderate Buy” from the thirteen analysts that are presently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $17.38.

FHN has been the topic of a number of recent analyst reports. Robert W. Baird reissued a “neutral” rating and set a $16.00 price target on shares of First Horizon in a research report on Tuesday, August 6th. Raymond James downgraded First Horizon from a “strong-buy” rating to an “outperform” rating and set a $18.00 price target on the stock. in a research report on Thursday, July 18th. Royal Bank of Canada upped their target price on First Horizon from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. StockNews.com raised First Horizon from a “sell” rating to a “hold” rating in a research report on Saturday, July 20th. Finally, Evercore ISI decreased their target price on First Horizon from $19.50 to $18.50 and set an “outperform” rating on the stock in a research report on Tuesday, September 17th.

Institutional Investors Weigh In On First Horizon

Several institutional investors have recently made changes to their positions in FHN. Sanctuary Advisors LLC bought a new stake in First Horizon during the second quarter worth $312,000. Cetera Investment Advisers lifted its stake in First Horizon by 79.7% during the second quarter. Cetera Investment Advisers now owns 105,574 shares of the financial services provider’s stock worth $1,665,000 after purchasing an additional 46,812 shares during the last quarter. Truist Financial Corp lifted its stake in First Horizon by 48.9% during the second quarter. Truist Financial Corp now owns 65,402 shares of the financial services provider’s stock worth $1,031,000 after purchasing an additional 21,475 shares during the last quarter. NewEdge Advisors LLC lifted its stake in First Horizon by 57.7% during the second quarter. NewEdge Advisors LLC now owns 349,372 shares of the financial services provider’s stock worth $5,510,000 after purchasing an additional 127,893 shares during the last quarter. Finally, Creative Planning lifted its stake in First Horizon by 11.1% during the second quarter. Creative Planning now owns 82,745 shares of the financial services provider’s stock worth $1,305,000 after purchasing an additional 8,263 shares during the last quarter. 80.28% of the stock is currently owned by institutional investors.

First Horizon Price Performance

NYSE:FHN opened at $15.25 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95. The stock’s 50-day simple moving average is $15.88 and its 200 day simple moving average is $15.46. The company has a market cap of $8.34 billion, a P/E ratio of 10.66, a P/E/G ratio of 3.17 and a beta of 0.88. First Horizon has a 52-week low of $10.08 and a 52-week high of $17.46.

First Horizon (NYSE:FHN) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $819.82 million. First Horizon had a return on equity of 8.84% and a net margin of 14.03%. During the same period last year, the firm earned $0.39 EPS. As a group, sell-side analysts forecast that First Horizon will post 1.46 EPS for the current fiscal year.

First Horizon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.93%. The ex-dividend date is Friday, September 13th. First Horizon’s dividend payout ratio (DPR) is currently 41.96%.

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.