First Horizon (FHN) – Analysts’ Recent Ratings Changes

Several analysts have recently updated their ratings and price targets for First Horizon (NYSE: FHN):

• 6/26/2024 – First Horizon was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 6/25/2024 – First Horizon had its price target lowered by analysts at Evercore ISI from $18.50 to $17.50. They now have an “outperform” rating on the stock.
• 6/24/2024 – First Horizon had its price target raised by analysts at Barclays PLC from $18.00 to $19.00. They now have an “overweight” rating on the stock.
• 6/18/2024 – First Horizon was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 6/11/2024 – First Horizon had its “outperform” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $18.00 price target on the stock.
• 5/23/2024 – First Horizon is now covered by analysts at Stephens. They set an “overweight” rating and a $19.00 price target on the stock.
• 5/21/2024 – First Horizon was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 5/13/2024 – First Horizon was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 5/1/2024 – First Horizon was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.

First Horizon Stock Performance

First Horizon stock traded up $0.85 during mid-day trading on Friday, reaching $15.65. 5,047,431 shares of the company traded hands, compared to its average volume of 6,778,919. The firm’s fifty day moving average is $15.29 and its two-hundred day moving average is $14.65. The company has a market capitalization of $8.56 billion, a price-to-earnings ratio of 10.94, a price-to-earnings-growth ratio of 1.99 and a beta of 0.91. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.95. First Horizon Co. has a fifty-two week low of $10.08 and a fifty-two week high of $16.28.

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

First Horizon Announces Dividend

The firm also recently declared 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 dividend yield of 3.83%. First Horizon’s dividend payout ratio is presently 41.96%.

Institutional Trading of First Horizon

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Rise Advisors LLC acquired a new position in shares of First Horizon during the first quarter valued at approximately $25,000. Fidelis Capital Partners LLC purchased a new position in First Horizon during the first quarter worth approximately $28,000. Fortitude Family Office LLC raised its holdings in shares of First Horizon by 129.3% during the 1st quarter. Fortitude Family Office LLC now owns 1,954 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 1,102 shares during the period. Raleigh Capital Management Inc. acquired a new position in shares of First Horizon during the 4th quarter valued at about $28,000. Finally, Richardson Financial Services Inc. purchased a new stake in shares of First Horizon in the fourth quarter valued at about $35,000. 80.28% of the stock is currently owned by hedge funds and other institutional investors.

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.