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

First Horizon Co. (NYSE:FHN) declared a quarterly dividend on Tuesday, July 23rd, RTT News reports. Shareholders of record on Friday, September 13th will be given a dividend of 0.15 per share by the financial services provider on Tuesday, October 1st. This represents a $0.60 annualized dividend and a dividend yield of 3.63%.

First Horizon has a payout ratio of 37.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect First Horizon to earn $1.60 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 37.5%.

First Horizon Trading Up 0.5 %

Shares of First Horizon stock traded up $0.08 on Tuesday, hitting $16.54. The stock had a trading volume of 5,676,361 shares, compared to its average volume of 6,987,171. 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 has a one year low of $10.08 and a one year high of $17.46. The stock has a market cap of $9.05 billion, a price-to-earnings ratio of 11.51, a PEG ratio of 3.28 and a beta of 0.89. The stock’s 50-day simple moving average is $15.55 and its two-hundred day simple moving average is $14.91.

First Horizon (NYSE:FHN) last issued its earnings results on Wednesday, July 17th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). First Horizon had a return on equity of 8.84% and a net margin of 14.03%. The firm 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 business posted $0.39 EPS. As a group, sell-side analysts predict that First Horizon will post 1.48 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Barclays lifted their price target on shares of First Horizon from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Monday, June 24th. JPMorgan Chase & Co. lifted their price target on shares of First Horizon from $16.00 to $17.50 and gave the company a “neutral” rating in a report on Thursday, April 4th. Robert W. Baird lifted their price target on shares of First Horizon from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, April 18th. Raymond James cut shares of First Horizon from a “strong-buy” rating to an “outperform” rating and set a $18.00 price target on the stock. in a report on Thursday, July 18th. Finally, Royal Bank of Canada boosted their target price on shares of First Horizon from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.31.

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.