Barclays Boosts First Horizon (NYSE:FHN) Price Target to $21.00

First Horizon (NYSE:FHN) had its price target upped by Barclays from $19.00 to $21.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

Several other equities analysts have also issued reports on the company. Raymond James lowered First Horizon from a “strong-buy” rating to an “outperform” rating and set a $18.00 target price on the stock. in a research note on Thursday, July 18th. JPMorgan Chase & Co. cut their price objective on shares of First Horizon from $19.00 to $18.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. StockNews.com raised shares of First Horizon from a “sell” rating to a “hold” rating in a research report on Saturday, July 20th. Jefferies Financial Group lifted their price target on shares of First Horizon from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $18.00 price objective on shares of First Horizon in a report on Wednesday, July 17th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, First Horizon presently has an average rating of “Moderate Buy” and an average price target of $17.77.

First Horizon Price Performance

Shares of FHN opened at $17.45 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95. The company has a 50 day moving average price of $15.88 and a 200-day moving average price of $15.58. First Horizon has a fifty-two week low of $10.16 and a fifty-two week high of $17.68. The stock has a market capitalization of $9.54 billion, a PE ratio of 12.20, a PEG ratio of 1.27 and a beta of 0.88.

First Horizon (NYSE:FHN) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.04. First Horizon had a return on equity of 8.84% and a net margin of 14.03%. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $821.63 million. During the same quarter last year, the firm earned $0.27 EPS. Equities analysts predict that First Horizon will post 1.46 earnings per share for the current fiscal year.

First Horizon Announces Dividend

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

Institutional Investors Weigh In On First Horizon

Hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC raised its stake in shares of First Horizon by 46.5% during the 2nd quarter. Millennium Management LLC now owns 14,370,699 shares of the financial services provider’s stock valued at $226,626,000 after buying an additional 4,558,129 shares during the last quarter. LSV Asset Management raised its position in First Horizon by 49.8% during the first quarter. LSV Asset Management now owns 13,333,738 shares of the financial services provider’s stock valued at $205,340,000 after acquiring an additional 4,434,929 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in First Horizon in the second quarter valued at approximately $66,779,000. Bank of New York Mellon Corp boosted its position in First Horizon by 13.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 32,389,497 shares of the financial services provider’s stock worth $510,782,000 after purchasing an additional 3,870,946 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of First Horizon by 28.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 15,515,494 shares of the financial services provider’s stock worth $244,647,000 after purchasing an additional 3,470,346 shares during the period. 80.28% of the stock is owned by hedge funds and other 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.