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

First Horizon (NYSE:FHN) had its price target boosted 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.

A number of other equities research analysts have also weighed in on the stock. Robert W. Baird reiterated a “neutral” rating and set a $16.00 price objective on shares of First Horizon in a report on Tuesday, August 6th. Raymond James lowered First Horizon from a “strong-buy” rating to an “outperform” rating and set a $18.00 price target for the company. in a report on Thursday, July 18th. JPMorgan Chase & Co. reduced their price objective on First Horizon from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Jefferies Financial Group lifted their target price on First Horizon from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Finally, Royal Bank of Canada increased their price target on First Horizon from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Thursday. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $17.69.

First Horizon Trading Up 0.3 %

FHN opened at $17.44 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 stock’s 50 day moving average price is $15.83 and its 200-day moving average price is $15.56. First Horizon has a one year low of $10.16 and a one year high of $17.68. The stock has a market cap of $9.53 billion, a price-to-earnings ratio of 12.19, a P/E/G ratio of 1.27 and a beta of 0.88.

First Horizon (NYSE:FHN) last announced 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 return on equity of 8.84% and a net margin of 14.03%. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $821.63 million. During the same quarter in the prior year, the company posted $0.27 EPS. On average, equities analysts forecast that First Horizon will post 1.46 EPS for the current year.

First Horizon Announces Dividend

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

Institutional Investors Weigh In On First Horizon

Hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. increased its position in shares of First Horizon by 76.7% during the third quarter. Blue Trust Inc. now owns 21,940 shares of the financial services provider’s stock worth $346,000 after purchasing an additional 9,522 shares in the last quarter. KMG Fiduciary Partners LLC grew its stake in First Horizon by 0.6% during the 3rd quarter. KMG Fiduciary Partners LLC now owns 150,201 shares of the financial services provider’s stock worth $2,333,000 after buying an additional 952 shares during the last quarter. nVerses Capital LLC acquired a new position in First Horizon during the 3rd quarter valued at about $554,000. Exchange Traded Concepts LLC purchased a new stake in First Horizon in the third quarter valued at about $1,730,000. Finally, Inspire Investing LLC boosted its holdings in 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 acquiring an additional 4,101 shares in the last quarter. Hedge funds and other institutional investors own 80.28% of the company’s stock.

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.