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

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 given a dividend of 0.15 per share by the financial services provider on Tuesday, April 1st. This represents a $0.60 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Friday, March 14th.

First Horizon has a dividend payout ratio of 31.9% indicating that its dividend is sufficiently covered by earnings. Equities 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

NYSE:FHN opened at $21.57 on Thursday. 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 fifty day moving average of $20.61 and a two-hundred day moving average of $18.00. The stock has a market capitalization of $11.44 billion, a PE ratio of 15.86, a P/E/G ratio of 1.19 and a beta of 0.92. First Horizon has a fifty-two week low of $13.45 and a fifty-two week high of $22.03.

First Horizon (NYSE:FHN) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates 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 previous year, the firm earned $0.32 earnings per share. As a group, research analysts forecast that First Horizon will post 1.63 earnings per share for the current fiscal year.

Insider Activity

In other news, 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 value of $1,996,255.98. Following the completion of the transaction, the executive vice president now owns 519,926 shares of the company’s stock, valued at approximately $10,278,937.02. This trade represents a 16.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Harry V. Barton, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $19.92, for a total transaction of $199,200.00. Following the completion of the transaction, the director now directly owns 166,840 shares of the company’s stock, valued at approximately $3,323,452.80. The trade was a 5.65 % 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 company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Barclays increased their target price on shares of First Horizon from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. The Goldman Sachs Group increased their target price on shares of First Horizon from $18.50 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Raymond James upped their price objective on shares of First Horizon from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, November 8th. JPMorgan Chase & Co. upped their price objective on shares of First Horizon from $22.50 to $23.50 and gave the company a “neutral” rating in a report on Friday, January 17th. Finally, Wells Fargo & Company upped their price objective on shares of First Horizon from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Friday, January 17th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, First Horizon presently has an average rating of “Moderate Buy” and a consensus target price of $22.04.

First Horizon announced that its Board of Directors has approved a share buyback plan on Tuesday, October 29th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 10.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are 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.