First Horizon Co. (NYSE:FHN) Receives $21.00 Average Target Price from Brokerages

First Horizon Co. (NYSE:FHN) has been given a consensus recommendation of “Moderate Buy” by the thirteen brokerages that are presently covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $21.00.

Several brokerages have recently commented on FHN. Raymond James raised their target price on First Horizon from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Barclays lifted their target price on First Horizon from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Wedbush downgraded shares of First Horizon from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $20.00 to $17.00 in a research report on Tuesday, September 24th. UBS Group started coverage on First Horizon in a research note on Tuesday, December 17th. They issued a “buy” rating and a $25.00 target price on the stock. Finally, Evercore ISI increased their price target on First Horizon from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th.

First Horizon Stock Down 0.0 %

Shares of First Horizon stock opened at $20.14 on Friday. The firm has a market cap of $10.68 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 1.54 and a beta of 0.91. The stock’s 50-day moving average is $19.77 and its 200 day moving average is $17.21. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95. First Horizon has a one year low of $12.95 and a one year high of $21.72.

First Horizon (NYSE:FHN) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $0.42 EPS for the quarter, topping the consensus estimate of $0.38 by $0.04. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $821.63 million. First Horizon had a net margin of 15.43% and a return on equity of 9.51%. During the same quarter last year, the firm posted $0.27 EPS. Equities research analysts anticipate that First Horizon will post 1.49 EPS for the current year.

First Horizon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.60 dividend on an annualized basis and a yield of 2.98%. First Horizon’s payout ratio is 43.48%.

First Horizon declared that its Board of Directors has approved a stock buyback plan on Tuesday, October 29th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 10.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at First Horizon

In other First Horizon news, EVP David T. Popwell sold 100,974 shares of First Horizon stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $19.77, for a total transaction of $1,996,255.98. Following the completion of the sale, the executive vice president now owns 519,926 shares of the company’s stock, valued at $10,278,937.02. The trade was a 16.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Harry V. Barton, Jr. sold 10,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $19.92, for a total value of $199,200.00. Following the transaction, the director now owns 166,840 shares in the company, valued at $3,323,452.80. This trade represents a 5.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. UMB Bank n.a. grew its holdings in First Horizon by 365.0% in the 3rd quarter. UMB Bank n.a. now owns 1,688 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 1,325 shares during the last quarter. Nemes Rush Group LLC increased its stake in shares of First Horizon by 306.2% during the second quarter. Nemes Rush Group LLC now owns 1,828 shares of the financial services provider’s stock valued at $29,000 after buying an additional 1,378 shares during the period. Covestor Ltd raised its holdings in shares of First Horizon by 44.0% during the third quarter. Covestor Ltd now owns 2,130 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 651 shares in the last quarter. True Wealth Design LLC purchased a new stake in First Horizon in the third quarter worth $36,000. Finally, LRI Investments LLC boosted its holdings in First Horizon by 365.7% in the third quarter. LRI Investments LLC now owns 3,800 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 2,984 shares in the last quarter. 80.28% of the stock is owned by hedge funds and other institutional investors.

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.