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

First Horizon Co. (NYSE:FHN) has been given a consensus rating of “Moderate Buy” by the thirteen research firms that are currently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $17.77.

FHN has been the topic of several research reports. Stephens raised their price objective on shares of First Horizon from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday. Evercore ISI reduced their target price on shares of First Horizon from $18.50 to $18.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Barclays increased their target price on shares of First Horizon from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday. StockNews.com raised shares of First Horizon from a “sell” rating to a “hold” rating in a report on Saturday, July 20th. Finally, Royal Bank of Canada increased their target price on shares of First Horizon from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Thursday.

First Horizon Stock Performance

First Horizon stock opened at $17.45 on Monday. The firm’s fifty day moving average price is $15.88 and its 200-day moving average price is $15.58. 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 has a market cap of $9.54 billion, a P/E ratio of 12.20, a price-to-earnings-growth ratio of 1.27 and a beta of 0.88. First Horizon has a fifty-two week low of $10.16 and a fifty-two week high of $17.68.

First Horizon (NYSE:FHN) last posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.04. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $821.63 million. First Horizon had a net margin of 14.03% and a return on equity of 8.84%. During the same quarter last year, the company posted $0.27 EPS. On average, equities research analysts expect that First Horizon will post 1.46 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

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

Institutional Investors Weigh In On First Horizon

A number of large investors have recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new stake in shares of First Horizon during the 1st quarter valued at about $25,000. UMB Bank n.a. boosted its stake in shares of First Horizon by 365.0% during the 3rd quarter. UMB Bank n.a. now owns 1,688 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,325 shares in the last quarter. Family Firm Inc. bought a new stake in shares of First Horizon during the 2nd quarter valued at about $28,000. Nemes Rush Group LLC boosted its stake in shares of First Horizon by 306.2% during the 2nd quarter. Nemes Rush Group LLC now owns 1,828 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 1,378 shares in the last quarter. Finally, Fidelis Capital Partners LLC bought a new stake in shares of First Horizon during the 1st quarter valued at about $28,000. Institutional investors own 80.28% of the company’s stock.

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.