First Horizon (NYSE:FHN – Get Free Report) issued its quarterly earnings data on Thursday. The financial services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.05, RTT News reports. First Horizon had a net margin of 15.43% and a return on equity of 9.51%. During the same period in the previous year, the company posted $0.32 earnings per share.
First Horizon Stock Down 0.4 %
FHN stock opened at $21.30 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average of $20.39 and a 200 day moving average of $17.64. First Horizon has a 52 week low of $12.95 and a 52 week high of $21.72. The stock has a market capitalization of $11.29 billion, a PE ratio of 15.43, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92.
First Horizon Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.60 annualized dividend and a dividend yield of 2.82%. First Horizon’s dividend payout ratio (DPR) is presently 43.48%.
Analyst Upgrades and Downgrades
FHN has been the topic of several analyst reports. Keefe, Bruyette & Woods boosted their price objective on First Horizon from $23.00 to $24.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. Robert W. Baird set a $17.00 price target on First Horizon in a report on Thursday, October 17th. The Goldman Sachs Group lifted their price objective on shares of First Horizon from $18.50 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. UBS Group began coverage on shares of First Horizon in a report on Tuesday, December 17th. They set a “buy” rating and a $25.00 price target on the stock. Finally, Evercore ISI boosted their target price on First Horizon from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.35.
Check Out Our Latest Report on First Horizon
Insider Buying and Selling
In related news, Director Harry V. Barton, Jr. sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $19.92, for a total value of $199,200.00. Following the transaction, the director now owns 166,840 shares in the company, valued at approximately $3,323,452.80. This represents a 5.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David T. Popwell sold 100,974 shares of First Horizon stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $19.77, for a total transaction of $1,996,255.98. Following the sale, the executive vice president now owns 519,926 shares of the company’s stock, valued at approximately $10,278,937.02. The trade was a 16.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.87% of the stock is currently owned by company insiders.
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.
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