First Horizon (NYSE:FHN) PT Raised to $21.00

First Horizon (NYSE:FHN) had its price objective upped by Barclays from $19.00 to $21.00 in a research note published on Thursday morning, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other equities research analysts have also commented on the stock. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $18.00 price target on shares of First Horizon in a report on Wednesday, July 17th. StockNews.com upgraded First Horizon from a “sell” rating to a “hold” rating in a research note on Saturday, July 20th. JPMorgan Chase & Co. decreased their price target on First Horizon from $19.00 to $18.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Evercore ISI lowered their price objective on First Horizon from $18.50 to $18.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Finally, Jefferies Financial Group lifted their target price on shares of First Horizon from $17.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.69.

First Horizon Price Performance

NYSE FHN opened at $17.44 on Thursday. The stock’s fifty day moving average price is $15.83 and its 200 day moving average price is $15.56. First Horizon has a 1 year low of $10.16 and a 1 year high of $17.68. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market cap of $9.53 billion, a price-to-earnings ratio of 12.19, a PEG ratio of 1.27 and a beta of 0.88.

First Horizon (NYSE:FHN) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.04. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $821.63 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 business posted $0.27 earnings per share. As a group, equities research analysts forecast that First Horizon will post 1.46 earnings per share for the current year.

First Horizon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a $0.15 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.60 annualized dividend and a dividend yield of 3.44%. First Horizon’s dividend payout ratio (DPR) is 41.96%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Millennium Management LLC increased its stake in First Horizon by 46.5% during the 2nd quarter. Millennium Management LLC now owns 14,370,699 shares of the financial services provider’s stock worth $226,626,000 after buying an additional 4,558,129 shares in the last quarter. LSV Asset Management increased its position in shares of First Horizon by 49.8% during the first quarter. LSV Asset Management now owns 13,333,738 shares of the financial services provider’s stock worth $205,340,000 after purchasing an additional 4,434,929 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in First Horizon in the 2nd quarter valued at $66,779,000. Bank of New York Mellon Corp lifted its holdings in First Horizon by 13.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 32,389,497 shares of the financial services provider’s stock valued at $510,782,000 after purchasing an additional 3,870,946 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in First Horizon by 28.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 15,515,494 shares of the financial services provider’s stock worth $244,647,000 after purchasing an additional 3,470,346 shares during the last quarter. Institutional investors and hedge funds own 80.28% of the company’s stock.

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.