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

First Horizon Co. (NYSE:FHN) has earned an average rating of “Moderate Buy” from the fifteen analysts that are presently covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $22.23.

FHN has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their price target on First Horizon from $18.50 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. lifted their price target on First Horizon from $22.50 to $23.50 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Keefe, Bruyette & Woods boosted their target price on First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. Bank of America boosted their target price on First Horizon from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Finally, Stephens reissued an “overweight” rating and set a $24.00 target price on shares of First Horizon in a research note on Friday, January 17th.

First Horizon Stock Performance

NYSE:FHN opened at $19.02 on Thursday. The business has a 50 day moving average of $20.94 and a 200 day moving average of $19.10. The company has a market capitalization of $9.92 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 1.19 and a beta of 0.86. First Horizon has a 1-year low of $13.72 and a 1-year high of $22.44. 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 (NYSE:FHN) last released its earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share for the quarter, topping 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 period in the prior year, the business posted $0.32 earnings per share. On average, sell-side analysts predict that First Horizon will post 1.67 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.16%. The ex-dividend date is Friday, March 14th. First Horizon’s dividend payout ratio (DPR) is 44.12%.

Insiders Place Their Bets

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the business’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $21.13, for a total value of $2,323,877.40. Following the sale, the chief executive officer now directly owns 1,861,381 shares of the company’s stock, valued at approximately $39,330,980.53. The trade was a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Citigroup Inc. lifted its holdings in shares of First Horizon by 43.0% during the third quarter. Citigroup Inc. now owns 948,122 shares of the financial services provider’s stock valued at $14,724,000 after purchasing an additional 285,108 shares in the last quarter. Allen Capital Group LLC lifted its holdings in shares of First Horizon by 128.4% during the third quarter. Allen Capital Group LLC now owns 52,612 shares of the financial services provider’s stock valued at $817,000 after purchasing an additional 29,581 shares in the last quarter. First Citizens Bank & Trust Co. bought a new position in shares of First Horizon during the fourth quarter valued at $304,000. Merit Financial Group LLC bought a new position in shares of First Horizon during the fourth quarter valued at $453,000. Finally, Smith Group Asset Management LLC bought a new position in shares of First Horizon during the fourth quarter valued at $1,813,000. 80.28% of the stock is owned by 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.