First Horizon (NYSE:FHN) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of First Horizon (NYSE:FHN) from a sell rating to a hold rating in a report issued on Tuesday.

Other analysts have also recently issued reports about the company. Stephens reiterated an “overweight” rating and set a $24.00 price target on shares of First Horizon in a research report on Friday, January 17th. Bank of America upped their target price on shares of First Horizon from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, January 17th. UBS Group began coverage on shares of First Horizon in a research note on Tuesday, December 17th. They issued a “buy” rating and a $25.00 price target on the stock. Barclays upped their price objective on shares of First Horizon from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Finally, Wells Fargo & Company raised their target price on shares of First Horizon from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.43.

First Horizon Stock Performance

FHN opened at $16.45 on Tuesday. The firm’s fifty day simple moving average is $20.07 and its two-hundred day simple moving average is $19.43. First Horizon has a 52-week low of $13.72 and a 52-week high of $22.44. The company has a market cap of $8.46 billion, a price-to-earnings ratio of 12.10, a PEG ratio of 1.19 and a beta of 0.60. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14.

First Horizon (NYSE:FHN) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.05. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. During the same period last year, the firm posted $0.32 EPS. 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 disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.60 annualized dividend and a yield of 3.65%. First Horizon’s dividend payout ratio (DPR) is currently 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 that occurred 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 owns 1,861,381 shares of the company’s stock, valued at $39,330,980.53. The trade was a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.87% of the stock is currently owned by insiders.

Institutional Investors Weigh In On First Horizon

A number of institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in First Horizon by 160.1% during the 4th quarter. JPMorgan Chase & Co. now owns 5,524,827 shares of the financial services provider’s stock valued at $111,270,000 after acquiring an additional 3,400,811 shares during the period. First Citizens Bank & Trust Co. purchased a new position in shares of First Horizon in the fourth quarter valued at approximately $304,000. Merit Financial Group LLC purchased a new position in shares of First Horizon in the fourth quarter valued at approximately $453,000. Smith Group Asset Management LLC acquired a new position in shares of First Horizon in the fourth quarter valued at approximately $1,813,000. Finally, Johnson Investment Counsel Inc. increased its stake in First Horizon by 2.8% during the 4th quarter. Johnson Investment Counsel Inc. now owns 2,661,592 shares of the financial services provider’s stock worth $53,604,000 after buying an additional 72,339 shares during the period. 80.28% of the stock is owned by institutional investors and hedge funds.

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.