First Horizon (NYSE:FHN) PT Lowered to $18.00 at JPMorgan Chase & Co.

First Horizon (NYSE:FHN) had its price objective cut by JPMorgan Chase & Co. from $19.00 to $18.00 in a report published on Wednesday, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

FHN has been the subject of a number of other research reports. Keefe, Bruyette & Woods reiterated a market perform rating and issued a $18.00 price target on shares of First Horizon in a research note on Wednesday, July 17th. Jefferies Financial Group boosted their price target on First Horizon from $17.00 to $18.00 and gave the stock a buy rating in a report on Wednesday, July 3rd. Royal Bank of Canada increased their price objective on shares of First Horizon from $18.00 to $19.00 and gave the company an outperform rating in a report on Thursday, July 18th. Raymond James downgraded shares of First Horizon from a strong-buy rating to an outperform rating and set a $18.00 target price on the stock. in a report on Thursday, July 18th. Finally, StockNews.com raised shares of First Horizon from a sell rating to a hold rating in a research note on Saturday, July 20th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $17.38.

First Horizon Stock Up 3.7 %

NYSE FHN opened at $16.37 on Wednesday. The stock’s 50-day moving average price is $15.65 and its 200-day moving average price is $15.51. The company has a market capitalization of $8.95 billion, a P/E ratio of 11.45, a price-to-earnings-growth ratio of 1.27 and a beta of 0.88. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. First Horizon has a 52 week low of $10.16 and a 52 week high of $17.46.

First Horizon (NYSE:FHN) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $819.82 million. First Horizon had a net margin of 14.03% and a return on equity of 8.84%. During the same period in the prior year, the firm earned $0.39 EPS. On average, equities research analysts predict that First Horizon will post 1.46 earnings per share for the current year.

First Horizon Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.60 annualized dividend and a yield of 3.67%. First Horizon’s payout ratio is currently 41.96%.

Institutional Trading of First Horizon

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Exchange Traded Concepts LLC bought a new stake in shares of First Horizon during the 3rd quarter worth approximately $1,730,000. Inspire Investing LLC grew its holdings in shares of First Horizon by 18.4% in the third quarter. Inspire Investing LLC now owns 26,446 shares of the financial services provider’s stock worth $411,000 after purchasing an additional 4,101 shares during the last quarter. UMB Bank n.a. increased its stake in First Horizon by 365.0% in the 3rd quarter. UMB Bank n.a. now owns 1,688 shares of the financial services provider’s stock worth $26,000 after buying an additional 1,325 shares during the period. CWM LLC boosted its position in First Horizon by 70.6% in the 3rd quarter. CWM LLC now owns 99,157 shares of the financial services provider’s stock valued at $1,540,000 after buying an additional 41,050 shares during the period. Finally, City Center Advisors LLC bought a new stake in shares of First Horizon during the third quarter valued at approximately $219,000. Hedge funds and other institutional investors own 80.28% of the company’s stock.

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.