First Horizon (NYSE:FHN) Given New $19.00 Price Target at Barclays

First Horizon (NYSE:FHN) had its target price boosted by Barclays from $18.00 to $19.00 in a report released on Monday, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

Other equities analysts have also recently issued reports about the company. Wedbush reaffirmed an outperform rating and set a $17.00 price objective on shares of First Horizon in a report on Wednesday, April 10th. Robert W. Baird boosted their price objective on shares of First Horizon from $15.00 to $16.00 and gave the stock a neutral rating in a research report on Thursday, April 18th. Stephens began coverage on shares of First Horizon in a report on Thursday, May 23rd. They set an overweight rating and a $19.00 target price for the company. StockNews.com upgraded shares of First Horizon from a sell rating to a hold rating in a research report on Tuesday, June 18th. Finally, JPMorgan Chase & Co. lifted their price objective on First Horizon from $16.00 to $17.50 and gave the stock a neutral rating in a research report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $16.69.

First Horizon Stock Performance

NYSE:FHN opened at $14.77 on Monday. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.13. First Horizon has a fifty-two week low of $10.08 and a fifty-two week high of $16.28. The firm’s fifty day simple moving average is $15.28 and its 200-day simple moving average is $14.65. The stock has a market cap of $8.07 billion, a PE ratio of 10.33, a price-to-earnings-growth ratio of 2.01 and a beta of 0.91.

First Horizon (NYSE:FHN) last issued its earnings results on Wednesday, April 17th. The financial services provider reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. First Horizon had a net margin of 16.07% and a return on equity of 8.96%. The company had revenue of $819.00 million for the quarter, compared to analyst estimates of $809.51 million. During the same period in the prior year, the business posted $0.46 earnings per share. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. Analysts expect that First Horizon will post 1.5 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.60 annualized dividend and a yield of 4.06%. First Horizon’s payout ratio is currently 41.96%.

Institutional Trading of First Horizon

A number of hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. boosted its position in shares of First Horizon by 20.6% in the third quarter. Invesco Ltd. now owns 3,328,186 shares of the financial services provider’s stock worth $36,677,000 after acquiring an additional 567,524 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of First Horizon by 98.9% during the 3rd quarter. Hsbc Holdings PLC now owns 434,705 shares of the financial services provider’s stock valued at $4,816,000 after buying an additional 216,111 shares during the period. Stifel Financial Corp increased its holdings in shares of First Horizon by 31.8% during the 3rd quarter. Stifel Financial Corp now owns 158,721 shares of the financial services provider’s stock worth $1,749,000 after buying an additional 38,290 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its position in shares of First Horizon by 36.8% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 18,535 shares of the financial services provider’s stock worth $204,000 after buying an additional 4,985 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its holdings in First Horizon by 153.0% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 81,900 shares of the financial services provider’s stock valued at $903,000 after acquiring an additional 49,530 shares during the last quarter. 80.28% of the stock is owned by institutional investors and hedge funds.

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.