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

First Horizon (NYSE:FHN) had its price target lowered by Evercore ISI from $18.50 to $18.00 in a research report released on Wednesday, Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

Other analysts also recently issued research reports about the stock. StockNews.com upgraded shares of First Horizon from a sell rating to a hold rating in a report on Saturday, July 20th. Raymond James lowered shares of First Horizon from a strong-buy rating to an outperform rating and set a $18.00 price objective for the company. in a research report on Thursday, July 18th. Royal Bank of Canada raised their price objective on shares of First Horizon from $18.00 to $19.00 and gave the company an outperform rating in a research report on Thursday, July 18th. Keefe, Bruyette & Woods reiterated a market perform rating and set a $18.00 target price on shares of First Horizon in a research report on Wednesday, July 17th. Finally, Barclays lifted their target price on shares of First Horizon from $18.00 to $19.00 and gave the company an overweight rating in a research report on Monday, June 24th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, First Horizon presently has an average rating of Moderate Buy and a consensus target price of $17.35.

First Horizon Stock Up 2.5 %

Shares of NYSE FHN opened at $15.57 on Wednesday. The firm has a market cap of $8.51 billion, a PE ratio of 10.88, a P/E/G ratio of 3.17 and a beta of 0.88. First Horizon has a 12-month low of $10.08 and a 12-month high of $17.46. The company’s fifty day simple moving average is $15.73 and its 200 day simple moving average is $15.48. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14.

First Horizon (NYSE:FHN) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.36 earnings per share 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 business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $819.82 million. During the same period last year, the business posted $0.39 earnings per share. As a group, sell-side analysts forecast that First Horizon will post 1.46 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FHN. Millennium Management LLC grew its position in shares of First Horizon by 46.5% in the 2nd quarter. Millennium Management LLC now owns 14,370,699 shares of the financial services provider’s stock worth $226,626,000 after buying an additional 4,558,129 shares during the period. LSV Asset Management raised its position in First Horizon by 49.8% in the 1st quarter. LSV Asset Management now owns 13,333,738 shares of the financial services provider’s stock worth $205,340,000 after buying an additional 4,434,929 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new position in shares of First Horizon during the second quarter valued at approximately $66,779,000. Bank of New York Mellon Corp lifted its holdings in shares of First Horizon by 13.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 32,389,497 shares of the financial services provider’s stock valued at $510,782,000 after buying an additional 3,870,946 shares during the period. Finally, Junto Capital Management LP bought a new position in First Horizon in the fourth quarter valued at about $52,721,000. 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.