First Horizon (NYSE:FHN) Given New $18.00 Price Target at Evercore ISI

First Horizon (NYSE:FHN) had its price target dropped by equities researchers at Evercore ISI from $18.50 to $18.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Evercore ISI’s target price indicates a potential upside of 20.00% from the company’s previous close.

Several other research firms also recently commented on FHN. Jefferies Financial Group increased their price objective on First Horizon from $17.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $18.00 price objective on shares of First Horizon in a report on Wednesday, July 17th. Barclays increased their price objective on First Horizon from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Monday, June 24th. Raymond James downgraded First Horizon from a “strong-buy” rating to an “outperform” rating and set a $18.00 price objective for the company. in a report on Thursday, July 18th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $16.00 price target on shares of First Horizon in a report on Tuesday, August 6th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.35.

First Horizon Stock Up 0.5 %

NYSE FHN traded up $0.08 during trading hours on Wednesday, reaching $15.00. 714,754 shares of the company’s stock were exchanged, compared to its average volume of 6,534,161. The company’s 50-day moving average is $15.79 and its two-hundred day moving average is $15.48. First Horizon has a one year low of $10.08 and a one year high of $17.46. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $8.20 billion, a price-to-earnings ratio of 10.49, a price-to-earnings-growth ratio of 3.17 and a beta of 0.88.

First Horizon (NYSE:FHN) last released its quarterly earnings results 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 return on equity of 8.84% and a net margin of 14.03%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $819.82 million. During the same period last year, the company earned $0.39 EPS. On average, analysts forecast that First Horizon will post 1.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FHN. Millennium Management LLC increased its position in shares of First Horizon by 46.5% in the second quarter. Millennium Management LLC now owns 14,370,699 shares of the financial services provider’s stock worth $226,626,000 after purchasing an additional 4,558,129 shares during the period. LSV Asset Management increased its position in shares of First Horizon by 49.8% in the first quarter. LSV Asset Management now owns 13,333,738 shares of the financial services provider’s stock worth $205,340,000 after purchasing an additional 4,434,929 shares during the period. Jupiter Asset Management Ltd. bought a new position in shares of First Horizon in the second quarter worth $66,779,000. Bank of New York Mellon Corp increased its position in shares of First Horizon by 13.6% in the second quarter. Bank of New York Mellon Corp now owns 32,389,497 shares of the financial services provider’s stock worth $510,782,000 after purchasing an additional 3,870,946 shares during the period. Finally, Junto Capital Management LP bought a new position in shares of First Horizon in the fourth quarter worth $52,721,000. Institutional investors own 80.28% of the company’s stock.

About First Horizon

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.