Brokerages Set First Horizon Co. (NYSE:FHN) Target Price at $22.23

First Horizon Co. (NYSE:FHN) has been assigned a consensus rating of “Moderate Buy” from the fifteen analysts that are presently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $22.23.

A number of analysts recently commented on FHN shares. Stephens reaffirmed an “overweight” rating and set a $24.00 price target on shares of First Horizon in a research report on Friday, January 17th. The Goldman Sachs Group increased their price target on First Horizon from $18.50 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. UBS Group initiated coverage on First Horizon in a research report on Tuesday, December 17th. They issued a “buy” rating and a $25.00 target price for the company. Keefe, Bruyette & Woods raised their target price on First Horizon from $23.00 to $24.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. Finally, Wells Fargo & Company raised their target price on First Horizon from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th.

First Horizon Stock Performance

Shares of First Horizon stock opened at $19.21 on Thursday. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. The company has a market cap of $10.02 billion, a PE ratio of 14.12, a price-to-earnings-growth ratio of 1.19 and a beta of 0.86. The business has a 50 day moving average price of $20.85 and a 200-day moving average price of $19.16. First Horizon has a 52 week low of $13.72 and a 52 week high of $22.44.

First Horizon (NYSE:FHN) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.05. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. During the same quarter in the prior year, the business earned $0.32 earnings per share. Equities analysts anticipate that First Horizon will post 1.67 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date is Friday, March 14th. First Horizon’s payout ratio is currently 44.12%.

Insider Transactions at First Horizon

In related news, CEO D Bryan Jordan sold 109,980 shares of First Horizon stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $21.13, for a total transaction of $2,323,877.40. Following the completion of the sale, the chief executive officer now owns 1,861,381 shares of the company’s stock, valued at approximately $39,330,980.53. This trade represents a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On First Horizon

Large investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc boosted its stake in First Horizon by 160.1% during the fourth quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider’s stock valued at $29,000 after buying an additional 884 shares during the period. Jones Financial Companies Lllp bought a new stake in First Horizon during the fourth quarter valued at $30,000. Kentucky Trust Co bought a new stake in First Horizon during the fourth quarter valued at $32,000. Covestor Ltd boosted its stake in 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 buying an additional 651 shares during the period. Finally, True Wealth Design LLC bought a new stake in First Horizon during the third quarter valued at $36,000. Institutional investors 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.