First Horizon (NYSE:FHN) PT Raised to $19.00

First Horizon (NYSE:FHNGet Free Report) had its price objective boosted by equities research analysts at Barclays from $18.00 to $19.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective suggests a potential upside of 27.09% from the stock’s current price.

Other analysts also recently issued reports about the stock. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $18.00 price objective on shares of First Horizon in a report on Tuesday, June 11th. JPMorgan Chase & Co. upped their price objective on shares of First Horizon from $16.00 to $17.50 and gave the company a “neutral” rating in a report on Thursday, April 4th. Robert W. Baird upped their price objective on shares of First Horizon from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, April 18th. StockNews.com raised shares of First Horizon from a “sell” rating to a “hold” rating in a report on Tuesday, June 18th. Finally, 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. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.69.

Read Our Latest Stock Report on First Horizon

First Horizon Stock Performance

NYSE:FHN traded up $0.28 during trading hours on Monday, hitting $14.95. 1,952,013 shares of the company were exchanged, compared to its average volume of 6,812,347. The stock has a market capitalization of $8.18 billion, a price-to-earnings ratio of 10.46, a PEG ratio of 1.97 and a beta of 0.91. First Horizon has a 52-week low of $10.08 and a 52-week 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. The company’s 50 day moving average price is $15.23 and its 200-day moving average price is $14.63.

First Horizon (NYSE:FHNGet Free Report) last released its earnings results on Wednesday, April 17th. The financial services provider reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. The company had revenue of $819.00 million for the quarter, compared to the consensus estimate of $809.51 million. First Horizon had a net margin of 16.07% and a return on equity of 8.96%. First Horizon’s revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.46 EPS. As a group, research analysts forecast that First Horizon will post 1.5 earnings per share for the current year.

Hedge Funds Weigh In On First Horizon

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rise Advisors LLC purchased a new position in shares of First Horizon in the first quarter valued at approximately $25,000. Raleigh Capital Management Inc. purchased a new position in shares of First Horizon in the fourth quarter valued at approximately $28,000. Fidelis Capital Partners LLC acquired a new position in shares of First Horizon during the 1st quarter worth approximately $28,000. Fortitude Family Office LLC boosted its holdings in shares of First Horizon by 129.3% during the 1st 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 during the last quarter. Finally, Richardson Financial Services Inc. acquired a new position in shares of First Horizon during the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 80.28% of the company’s stock.

First Horizon Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for First Horizon (NYSE:FHN)

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