Barclays Raises First Horizon (NYSE:FHN) Price Target to $19.00

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

Other research analysts also recently issued reports about the company. Stephens began coverage on First Horizon in a research note 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. Evercore ISI upped their price target on shares of First Horizon from $17.00 to $17.50 and gave the stock an outperform rating in a research report on Thursday, March 28th. Robert W. Baird boosted their price objective on First Horizon from $15.00 to $16.00 and gave the stock a neutral rating in a research note on Thursday, April 18th. Finally, Royal Bank of Canada upgraded First Horizon from a sector perform rating to an outperform rating and raised their target price for the company from $16.00 to $18.00 in a research report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $16.69.

First Horizon Trading Down 1.0 %

Shares of NYSE:FHN opened at $14.77 on Monday. The company has a market capitalization of $8.07 billion, a PE ratio of 10.33, a PEG ratio of 2.01 and a beta of 0.91. First Horizon has a 12-month low of $10.08 and a 12-month high of $16.28. The business has a 50 day moving average of $15.28 and a two-hundred day moving average of $14.65. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.13.

First Horizon (NYSE:FHN) last released its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The company had revenue of $819.00 million during the quarter, compared to analysts’ expectations of $809.51 million. First Horizon had a net margin of 16.07% and a return on equity of 8.96%. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.46 earnings per share. As a group, analysts forecast that First Horizon will post 1.5 EPS for the current year.

First Horizon Announces Dividend

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

Institutional Trading of First Horizon

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp grew its position in First Horizon by 224.4% in the first quarter. Bank of New York Mellon Corp now owns 28,518,551 shares of the financial services provider’s stock worth $439,186,000 after acquiring an additional 19,728,357 shares during the period. AQR Capital Management LLC grew its holdings in shares of First Horizon by 6,217.8% during the 3rd quarter. AQR Capital Management LLC now owns 7,806,037 shares of the financial services provider’s stock worth $86,023,000 after purchasing an additional 7,682,480 shares during the period. Norges Bank acquired a new stake in shares of First Horizon during the 4th quarter worth about $86,487,000. LSV Asset Management raised its holdings in First Horizon by 49.8% in the 1st quarter. LSV Asset Management now owns 13,333,738 shares of the financial services provider’s stock valued at $205,340,000 after buying an additional 4,434,929 shares during the period. Finally, Junto Capital Management LP acquired a new position in First Horizon in the fourth quarter valued at about $52,721,000. Institutional investors and hedge funds 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.