First Horizon Co. Plans Quarterly Dividend of $0.15 (NYSE:FHN)

First Horizon Co. (NYSE:FHN) declared a quarterly dividend on Tuesday, January 28th, RTT News reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.15 per share by the financial services provider on Tuesday, April 1st. This represents a $0.60 annualized dividend and a yield of 3.29%. The ex-dividend date is Friday, March 14th.

First Horizon has a payout ratio of 31.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect First Horizon to earn $1.91 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 31.4%.

First Horizon Price Performance

Shares of FHN opened at $18.22 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96. The company has a 50 day moving average price of $21.02 and a 200-day moving average price of $19.07. First Horizon has a fifty-two week low of $13.72 and a fifty-two week high of $22.44. The stock has a market capitalization of $9.50 billion, a PE ratio of 13.39, a PEG ratio of 1.19 and a beta of 0.86.

First Horizon (NYSE:FHN) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 in the prior year, the firm posted $0.32 EPS. Equities analysts predict that First Horizon will post 1.67 earnings per share for the current fiscal year.

Insider Buying and Selling at First Horizon

In related news, CEO D Bryan Jordan sold 109,980 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $21.13, for a total transaction of $2,323,877.40. Following the completion of the transaction, the chief executive officer now owns 1,861,381 shares in the company, valued at approximately $39,330,980.53. The trade was a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.87% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have commented on FHN. Citigroup increased their price target on shares of First Horizon from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Royal Bank of Canada lifted their price target on shares of First Horizon from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Wells Fargo & Company increased their price objective on First Horizon from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Friday, January 17th. Bank of America increased their price target on First Horizon from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Finally, Barclays increased their price objective on First Horizon from $23.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, First Horizon currently has an average rating of “Moderate Buy” and an average target price of $22.23.

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.