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

First Horizon Co. (NYSE:FHN) has been given a consensus rating of “Moderate Buy” by the sixteen analysts that are presently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $22.30.

FHN has been the subject of several research analyst reports. Barclays decreased their price objective on First Horizon from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Tuesday. Royal Bank of Canada increased their price target on shares of First Horizon from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. raised their price objective on shares of First Horizon from $22.50 to $23.50 and gave the stock a “neutral” rating in a research report on Friday, January 17th. UBS Group started coverage on shares of First Horizon in a report on Tuesday, December 17th. They issued a “buy” rating and a $25.00 target price for the company. Finally, Robert W. Baird raised First Horizon from a “neutral” rating to an “outperform” rating and set a $22.00 price target on the stock in a report on Monday.

Insider Buying and Selling

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the firm’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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.87% of the stock is currently owned by corporate insiders.

Institutional Trading of First Horizon

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Townsquare Capital LLC acquired a new stake in shares of First Horizon during the 3rd quarter valued at approximately $231,000. Quantinno Capital Management LP raised its holdings in First Horizon by 8.4% during the third quarter. Quantinno Capital Management LP now owns 27,760 shares of the financial services provider’s stock worth $431,000 after purchasing an additional 2,145 shares during the last quarter. Quadrature Capital Ltd boosted its position in First Horizon by 24.3% during the third quarter. Quadrature Capital Ltd now owns 45,193 shares of the financial services provider’s stock worth $701,000 after purchasing an additional 8,834 shares in the last quarter. Stifel Financial Corp boosted its position in First Horizon by 14.8% during the third quarter. Stifel Financial Corp now owns 85,461 shares of the financial services provider’s stock worth $1,327,000 after purchasing an additional 10,988 shares in the last quarter. Finally, State Street Corp increased its position in shares of First Horizon by 18.6% in the third quarter. State Street Corp now owns 26,236,784 shares of the financial services provider’s stock valued at $410,789,000 after buying an additional 4,116,486 shares in the last quarter. Institutional investors and hedge funds own 80.28% of the company’s stock.

First Horizon Price Performance

Shares of NYSE:FHN opened at $18.06 on Monday. 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 12 month low of $13.72 and a 12 month high of $22.44. The firm has a market capitalization of $9.29 billion, a P/E ratio of 13.28, a P/E/G ratio of 1.19 and a beta of 0.60. The company’s fifty day moving average price is $19.91 and its 200 day moving average price is $19.44.

First Horizon (NYSE:FHN) last posted its earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate 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 company posted $0.32 earnings per share. As a group, sell-side analysts predict that First Horizon will post 1.67 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a $0.15 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.60 annualized dividend and a dividend yield of 3.32%. First Horizon’s dividend payout ratio is currently 44.12%.

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.