First Horizon (NYSE:FHN) PT Raised to $20.00

First Horizon (NYSE:FHN) had its price objective hoisted by Stephens from $18.00 to $20.00 in a research report released on Thursday, Benzinga reports. Stephens currently has an overweight rating on the financial services provider’s stock.

FHN has been the topic of a number of other research reports. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $18.00 target price on shares of First Horizon in a report on Wednesday, July 17th. Wedbush lowered First Horizon from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $20.00 to $17.00 in a research note on Tuesday, September 24th. StockNews.com upgraded First Horizon from a “sell” rating to a “hold” rating in a research note on Saturday, July 20th. Evercore ISI decreased their price target on First Horizon from $18.50 to $18.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. cut their price objective on shares of First Horizon from $19.00 to $18.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $17.69.

First Horizon Trading Up 0.3 %

Shares of FHN stock opened at $17.44 on Thursday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. The firm has a market cap of $9.53 billion, a P/E ratio of 12.19, a PEG ratio of 1.27 and a beta of 0.88. The company has a 50 day moving average of $15.83 and a 200-day moving average of $15.56. First Horizon has a 12-month low of $10.16 and a 12-month high of $17.68.

First Horizon (NYSE:FHN) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $0.42 EPS for the quarter, beating the consensus estimate of $0.38 by $0.04. First Horizon had a net margin of 14.03% and a return on equity of 8.84%. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $821.63 million. During the same period in the prior year, the firm earned $0.27 earnings per share. Sell-side analysts anticipate that First Horizon will post 1.46 earnings per share for the current year.

First Horizon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.44%. The ex-dividend date was Friday, September 13th. First Horizon’s dividend payout ratio (DPR) is currently 41.96%.

Hedge Funds Weigh In On First Horizon

Several institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its position in First Horizon by 2.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,453,280 shares of the financial services provider’s stock worth $20,578,000 after buying an additional 38,455 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of First Horizon by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 56,946,272 shares of the financial services provider’s stock valued at $806,359,000 after purchasing an additional 171,222 shares in the last quarter. CWM LLC grew its holdings in shares of First Horizon by 9.9% during the 1st quarter. CWM LLC now owns 38,950 shares of the financial services provider’s stock valued at $600,000 after purchasing an additional 3,520 shares during the last quarter. Los Angeles Capital Management LLC raised its position in First Horizon by 55.5% in the 1st quarter. Los Angeles Capital Management LLC now owns 756,297 shares of the financial services provider’s stock worth $11,647,000 after purchasing an additional 269,920 shares during the period. Finally, Rise Advisors LLC purchased a new position in First Horizon in the 1st quarter worth $25,000. 80.28% of the stock is currently 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.