First Horizon (NYSE:FHN) PT Raised to $20.00 at Stephens

First Horizon (NYSE:FHN) had its price objective increased by investment analysts at Stephens from $18.00 to $20.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Stephens’ target price would indicate a potential upside of 13.38% from the company’s current price.

Several other equities analysts have also recently issued reports on FHN. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $18.00 price target on shares of First Horizon in a research report on Wednesday, July 17th. 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. Evercore ISI cut their target price on First Horizon from $18.50 to $18.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. StockNews.com raised First Horizon from a “sell” rating to a “hold” rating in a research note on Saturday, July 20th. Finally, Robert W. Baird restated a “neutral” rating and set a $16.00 price objective on shares of First Horizon in a research report on Tuesday, August 6th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $17.69.

First Horizon Price Performance

Shares of NYSE:FHN traded up $0.25 during trading on Thursday, hitting $17.64. 5,223,168 shares of the company were exchanged, compared to its average volume of 6,577,854. First Horizon has a 1-year low of $10.16 and a 1-year high of $17.68. The company has a market capitalization of $9.65 billion, a P/E ratio of 12.34, a price-to-earnings-growth ratio of 1.27 and a beta of 0.88. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $15.78 and its 200-day moving average is $15.55.

First Horizon (NYSE:FHN) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. First Horizon had a return on equity of 8.84% and a net margin of 14.03%. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $821.63 million. During the same quarter in the prior year, the firm earned $0.27 EPS. Equities analysts forecast that First Horizon will post 1.46 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rise Advisors LLC acquired a new stake in First Horizon in the first quarter valued at approximately $25,000. UMB Bank n.a. grew its position in First Horizon by 365.0% in the 3rd quarter. UMB Bank n.a. now owns 1,688 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,325 shares during the period. Fidelis Capital Partners LLC bought a new stake in First Horizon during the 1st quarter valued at $28,000. Family Firm Inc. acquired a new position in First Horizon during the second quarter worth $28,000. Finally, Nemes Rush Group LLC lifted its stake in shares of First Horizon by 306.2% in the second quarter. Nemes Rush Group LLC now owns 1,828 shares of the financial services provider’s stock valued at $29,000 after buying an additional 1,378 shares in the last quarter. 80.28% of the stock is owned by institutional investors.

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.