First Horizon (NYSE:FHN) PT Raised to $18.00

First Horizon (NYSE:FHN) had its price target increased by Jefferies Financial Group from $17.00 to $18.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 15.98% from the stock’s current price.

A number of other research analysts have also recently commented on the stock. Stephens initiated coverage on shares of First Horizon in a research report on Thursday, May 23rd. They set an “overweight” rating and a $19.00 target price on the stock. Robert W. Baird boosted their price objective on shares of First Horizon from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, April 18th. Evercore ISI lowered their target price on First Horizon from $18.50 to $17.50 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Royal Bank of Canada upgraded First Horizon from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $16.00 to $18.00 in a research note on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $18.00 price objective on shares of First Horizon in a research note on Tuesday, June 11th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.15.

First Horizon Trading Down 1.8 %

NYSE:FHN opened at $15.52 on Wednesday. The business’s 50-day moving average is $15.38 and its two-hundred day moving average is $14.72. The firm has a market capitalization of $8.49 billion, a PE ratio of 10.85, a price-to-earnings-growth ratio of 2.12 and a beta of 0.89. First Horizon has a 12 month low of $10.08 and a 12 month high of $16.28. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.95.

First Horizon (NYSE:FHN) last announced its earnings results on Wednesday, April 17th. The financial services provider reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. The business had revenue of $819.00 million for the quarter, compared to the consensus estimate of $809.51 million. First Horizon had a return on equity of 8.96% and a net margin of 16.07%. The company’s revenue was down 4.7% on a year-over-year basis. During the same period last year, the business posted $0.46 EPS. Research analysts predict that First Horizon will post 1.51 earnings per share for the current fiscal year.

Institutional Trading of First Horizon

A number of institutional investors and hedge funds have recently modified their holdings of the business. First Trust Direct Indexing L.P. boosted its holdings in shares of First Horizon by 6.5% in the 1st quarter. First Trust Direct Indexing L.P. now owns 12,623 shares of the financial services provider’s stock valued at $194,000 after buying an additional 765 shares during the period. Perigon Wealth Management LLC boosted its stake in First Horizon by 7.5% in the first quarter. Perigon Wealth Management LLC now owns 11,520 shares of the financial services provider’s stock valued at $177,000 after acquiring an additional 804 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of First Horizon by 0.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 106,489 shares of the financial services provider’s stock valued at $1,508,000 after purchasing an additional 900 shares during the last quarter. Yousif Capital Management LLC raised its position in shares of First Horizon by 0.4% during the 4th quarter. Yousif Capital Management LLC now owns 265,607 shares of the financial services provider’s stock worth $3,761,000 after purchasing an additional 1,068 shares during the period. Finally, Red Door Wealth Management LLC lifted its holdings in shares of First Horizon by 3.4% in the 4th quarter. Red Door Wealth Management LLC now owns 32,239 shares of the financial services provider’s stock worth $456,000 after purchasing an additional 1,070 shares during the last quarter. 80.28% of the stock is 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.