First Horizon (NYSE:FHN) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of First Horizon (NYSE:FHN) from a sell rating to a hold rating in a research report report published on Saturday.

Other equities analysts also recently issued research reports about the company. Wedbush reissued an outperform rating and set a $17.00 price target on shares of First Horizon in a research report on Wednesday, April 10th. Stephens initiated coverage on First Horizon in a report on Thursday, May 23rd. They set an overweight rating and a $19.00 price target for the company. Robert W. Baird boosted their target price on shares of First Horizon from $15.00 to $16.00 and gave the company a neutral rating in a research report on Thursday, April 18th. Royal Bank of Canada increased their price objective on shares of First Horizon from $18.00 to $19.00 and gave the stock an outperform rating in a research note on Thursday, July 18th. Finally, Jefferies Financial Group increased their target price on shares of First Horizon from $17.00 to $18.00 and gave the stock a buy rating in a report on Wednesday, July 3rd. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, First Horizon currently has an average rating of Moderate Buy and an average price target of $17.31.

First Horizon Trading Up 0.5 %

Shares of NYSE:FHN opened at $16.55 on Friday. The company’s 50-day moving average price is $15.57 and its two-hundred day moving average price is $14.93. First Horizon has a one year low of $10.08 and a one year high of $17.46. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $9.05 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 3.28 and a beta of 0.89.

First Horizon (NYSE:FHN) last released its earnings results on Wednesday, July 17th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $819.82 million. First Horizon had a return on equity of 8.84% and a net margin of 14.03%. During the same quarter in the previous year, the company posted $0.39 EPS. On average, equities analysts forecast that First Horizon will post 1.48 EPS for the current fiscal year.

First Horizon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.63%. First Horizon’s payout ratio is currently 41.96%.

Institutional Trading of First Horizon

Several institutional investors have recently made changes to their positions in FHN. Vanguard Group Inc. grew its position in First Horizon by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 57,574,002 shares of the financial services provider’s stock worth $886,640,000 after purchasing an additional 627,730 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of 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 valued at $439,186,000 after acquiring an additional 19,728,357 shares in the last quarter. LSV Asset Management increased its position in shares of First Horizon by 49.8% during the first quarter. LSV Asset Management now owns 13,333,738 shares of the financial services provider’s stock valued at $205,340,000 after acquiring an additional 4,434,929 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in First Horizon by 10.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,641,140 shares of the financial services provider’s stock worth $136,526,000 after acquiring an additional 883,503 shares during the period. Finally, Norges Bank bought a new position in First Horizon in the 4th quarter valued at $86,487,000. 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.