Raymond James Lowers First Horizon (NYSE:FHN) Price Target to $22.00

First Horizon (NYSE:FHN) had its target price lowered by Raymond James from $23.00 to $22.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

FHN has been the topic of a number of other reports. JPMorgan Chase & Co. lifted their price objective on First Horizon from $22.50 to $23.50 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Wells Fargo & Company boosted their price objective on shares of First Horizon from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. StockNews.com cut shares of First Horizon from a “hold” rating to a “sell” rating in a research report on Monday. Keefe, Bruyette & Woods boosted their price target on shares of First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. Finally, UBS Group initiated coverage on First Horizon in a report on Tuesday, December 17th. They set a “buy” rating and a $25.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.23.

First Horizon Trading Up 2.6 %

NYSE:FHN opened at $19.64 on Wednesday. The firm has a market capitalization of $10.10 billion, a P/E ratio of 14.44, a P/E/G ratio of 1.19 and a beta of 0.86. First Horizon has a 52 week low of $13.72 and a 52 week high of $22.44. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. The company has a fifty day moving average of $20.53 and a 200 day moving average of $19.41.

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

First Horizon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a yield of 3.05%. First Horizon’s payout ratio is currently 44.12%.

Insider Buying and Selling at First Horizon

In related 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 sale, the chief executive officer now directly owns 1,861,381 shares of the company’s stock, 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 filing with the SEC, which is available at the SEC website. Company insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On First Horizon

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Townsquare Capital LLC purchased a new position in shares of First Horizon during the third quarter valued at approximately $231,000. CreativeOne Wealth LLC raised its stake in First Horizon by 7.1% during the 3rd quarter. CreativeOne Wealth LLC now owns 11,665 shares of the financial services provider’s stock valued at $181,000 after buying an additional 773 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of First Horizon by 2.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 115,708 shares of the financial services provider’s stock valued at $1,797,000 after buying an additional 2,707 shares during the period. Captrust Financial Advisors boosted its stake in shares of First Horizon by 3.1% in the 3rd quarter. Captrust Financial Advisors now owns 169,654 shares of the financial services provider’s stock worth $2,635,000 after buying an additional 5,022 shares during the last quarter. Finally, Paloma Partners Management Co bought a new stake in shares of First Horizon in the third quarter worth $398,000. Institutional investors own 80.28% of the company’s stock.

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.