First Horizon (NYSE:FHN) PT Lowered to $17.50

First Horizon (NYSE:FHN) had its target price dropped by stock analysts at Evercore ISI from $18.50 to $17.50 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Evercore ISI’s target price would suggest a potential upside of 18.52% from the company’s current price.

A number of other analysts have also recently weighed in on FHN. Stephens initiated coverage on shares of First Horizon in a report on Thursday, May 23rd. They issued an “overweight” rating and a $19.00 price objective on the stock. Robert W. Baird increased their target price on shares of First Horizon from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, April 18th. JPMorgan Chase & Co. increased their target price on shares of First Horizon from $16.00 to $17.50 and gave the company a “neutral” rating in a research report on Thursday, April 4th. Barclays increased 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. Finally, StockNews.com upgraded shares of First Horizon from a “sell” rating to a “hold” rating in a research report on Tuesday, June 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, First Horizon has a consensus rating of “Moderate Buy” and an average price target of $16.69.

First Horizon Stock Down 1.0 %

FHN stock opened at $14.77 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.13. First Horizon has a fifty-two week low of $10.08 and a fifty-two week high of $16.28. The firm’s 50-day simple moving average is $15.28 and its 200 day simple moving average is $14.65. The stock has a market cap of $8.07 billion, a PE ratio of 10.33, a price-to-earnings-growth ratio of 2.01 and a beta of 0.91.

First Horizon (NYSE:FHN) last released its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. First Horizon had a net margin of 16.07% and a return on equity of 8.96%. The business had revenue of $819.00 million for the quarter, compared to analysts’ expectations of $809.51 million. During the same quarter last year, the company earned $0.46 EPS. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. As a group, sell-side analysts predict that First Horizon will post 1.5 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rise Advisors LLC acquired a new position in shares of First Horizon in the first quarter worth about $25,000. Raleigh Capital Management Inc. purchased a new stake in shares of First Horizon in the fourth quarter worth approximately $28,000. Fidelis Capital Partners LLC purchased a new stake in shares of First Horizon in the first quarter worth approximately $28,000. Fortitude Family Office LLC lifted its position in shares of First Horizon by 129.3% in the first quarter. Fortitude Family Office LLC now owns 1,954 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 1,102 shares in the last quarter. Finally, Richardson Financial Services Inc. purchased a new stake in shares of First Horizon in the fourth quarter worth approximately $35,000. 80.28% of the stock is currently owned by institutional investors and hedge funds.

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.