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

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 2.82%.

First Horizon has a dividend payout ratio of 31.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect First Horizon to earn $1.84 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 32.6%.

First Horizon Stock Performance

Shares of First Horizon stock opened at $21.30 on Wednesday. The firm has a market cap of $11.29 billion, a PE ratio of 15.66, a price-to-earnings-growth ratio of 1.19 and a beta of 0.92. First Horizon has a 1 year low of $13.45 and a 1 year high of $21.82. The firm’s 50-day simple moving average is $20.57 and its 200-day simple moving average is $17.98. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96.

First Horizon (NYSE:FHN) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating 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 quarter in the previous year, the company earned $0.32 EPS. Equities analysts forecast that First Horizon will post 1.63 earnings per share for the current fiscal year.

Insider Transactions at First Horizon

In other news, CEO D Bryan Jordan sold 109,980 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $21.13, for a total value of $2,323,877.40. Following the completion of the transaction, the chief executive officer now directly owns 1,861,381 shares in the company, valued at $39,330,980.53. This trade represents a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP David T. Popwell sold 100,974 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $19.77, for a total transaction of $1,996,255.98. Following the transaction, the executive vice president now owns 519,926 shares in the company, valued at $10,278,937.02. This represents a 16.26 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 220,954 shares of company stock valued at $4,519,333. 0.87% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on FHN. JPMorgan Chase & Co. boosted their target price on shares of First Horizon from $22.50 to $23.50 and gave the company a “neutral” rating in a research note on Friday, January 17th. Bank of America boosted their price objective on shares of First Horizon from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Wells Fargo & Company raised their target price on shares of First Horizon from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. UBS Group assumed coverage on First Horizon in a report on Tuesday, December 17th. They set a “buy” rating and a $25.00 target price for the company. Finally, Raymond James raised their price target on First Horizon from $19.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Seven 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.04.

First Horizon declared that its Board of Directors has initiated a stock buyback program on Tuesday, October 29th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 10.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

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.