First Horizon (NYSE:FHN) Raised to “Outperform” at Robert W. Baird

Robert W. Baird upgraded shares of First Horizon (NYSE:FHN) from a neutral rating to an outperform rating in a research note released on Monday morning, Marketbeat.com reports. The brokerage currently has $22.00 target price on the financial services provider’s stock.

Several other equities analysts also recently weighed in on FHN. Barclays lifted their price target on shares of First Horizon from $23.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Citigroup boosted their price target on shares of First Horizon from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Royal Bank of Canada lifted their target price on First Horizon from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Raymond James decreased their target price on First Horizon from $23.00 to $22.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 2nd. Finally, UBS Group assumed coverage on First Horizon in a report on Tuesday, December 17th. They set a “buy” rating and a $25.00 price target for the company. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.30.

First Horizon Stock Performance

Shares of NYSE FHN opened at $18.06 on Monday. First Horizon has a 12-month low of $13.72 and a 12-month high of $22.44. The firm has a market capitalization of $9.29 billion, a price-to-earnings ratio of 13.28, a price-to-earnings-growth ratio of 1.19 and a beta of 0.60. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average of $19.91 and a 200 day moving average of $19.44.

First Horizon (NYSE:FHN) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.38 by $0.05. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. During the same period last year, the business posted $0.32 earnings per share. On average, research analysts anticipate that First Horizon will post 1.67 earnings per share for the current year.

First Horizon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend was Friday, March 14th. First Horizon’s dividend payout ratio (DPR) is presently 44.12%.

Insider Activity

In other news, CEO D Bryan Jordan sold 109,980 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $21.13, for a total transaction of $2,323,877.40. Following the transaction, the chief executive officer now owns 1,861,381 shares of the company’s stock, valued at approximately $39,330,980.53. This represents a 5.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its stake in shares of First Horizon by 160.1% during the fourth quarter. JPMorgan Chase & Co. now owns 5,524,827 shares of the financial services provider’s stock valued at $111,270,000 after purchasing an additional 3,400,811 shares in the last quarter. First Citizens Bank & Trust Co. purchased a new position in shares of First Horizon in the 4th quarter valued at $304,000. Merit Financial Group LLC bought a new position in shares of First Horizon in the 4th quarter worth $453,000. Smith Group Asset Management LLC purchased a new stake in shares of First Horizon during the 4th quarter worth $1,813,000. Finally, Johnson Investment Counsel Inc. boosted its position in First Horizon by 2.8% during the fourth quarter. Johnson Investment Counsel Inc. now owns 2,661,592 shares of the financial services provider’s stock valued at $53,604,000 after purchasing an additional 72,339 shares in the last quarter. 80.28% of the stock is currently owned by institutional investors.

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.