First Horizon (NYSE:FHN) Price Target Lowered to $18.00 at Evercore ISI

First Horizon (NYSE:FHN) had its price target cut by Evercore ISI from $18.50 to $18.00 in a report issued on Wednesday, Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Other equities analysts have also recently issued research reports about the company. Raymond James cut First Horizon from a strong-buy rating to an outperform rating and set a $18.00 price target for the company. in a report on Thursday, July 18th. Keefe, Bruyette & Woods restated a market perform rating and issued a $18.00 price target on shares of First Horizon in a research report on Wednesday, July 17th. Robert W. Baird reiterated a neutral rating and set a $16.00 price objective on shares of First Horizon in a research report on Tuesday, August 6th. StockNews.com upgraded shares of First Horizon from a sell rating to a hold rating in a report on Saturday, July 20th. Finally, Barclays boosted their target price on shares of First Horizon from $18.00 to $19.00 and gave the stock an overweight rating in a report on Monday, June 24th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, First Horizon currently has an average rating of Moderate Buy and an average target price of $17.35.

First Horizon Trading Up 2.5 %

Shares of FHN opened at $15.57 on Wednesday. First Horizon has a 1 year low of $10.08 and a 1 year high of $17.46. The company has a 50 day simple moving average of $15.73 and a two-hundred day simple moving average of $15.48. 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 firm has a market cap of $8.51 billion, a P/E ratio of 10.88, a price-to-earnings-growth ratio of 3.17 and a beta of 0.88.

First Horizon (NYSE:FHN) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). First Horizon had a net margin of 14.03% and a return on equity of 8.84%. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $819.82 million. During the same quarter in the prior year, the firm posted $0.39 earnings per share. On average, equities analysts expect that First Horizon will post 1.46 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.60 annualized dividend and a dividend yield of 3.85%. First Horizon’s dividend payout ratio (DPR) is 41.96%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Duncan Williams Asset Management LLC grew its holdings in shares of First Horizon by 6.6% in the third quarter. Duncan Williams Asset Management LLC now owns 370,615 shares of the financial services provider’s stock worth $5,756,000 after purchasing an additional 23,053 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of First Horizon in the second quarter worth about $312,000. Cetera Investment Advisers grew its holdings in shares of First Horizon by 79.7% in the second quarter. Cetera Investment Advisers now owns 105,574 shares of the financial services provider’s stock worth $1,665,000 after purchasing an additional 46,812 shares during the last quarter. Truist Financial Corp grew its holdings in shares of First Horizon by 48.9% in the second quarter. Truist Financial Corp now owns 65,402 shares of the financial services provider’s stock worth $1,031,000 after purchasing an additional 21,475 shares during the last quarter. Finally, NewEdge Advisors LLC grew its holdings in shares of First Horizon by 57.7% in the second quarter. NewEdge Advisors LLC now owns 349,372 shares of the financial services provider’s stock worth $5,510,000 after purchasing an additional 127,893 shares during 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.