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

First Horizon (NYSE:FHN) had its price objective raised by stock analysts at Royal Bank of Canada from $18.00 to $19.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s price target indicates a potential upside of 16.56% from the company’s previous close.

FHN has been the subject of several other research reports. Robert W. Baird upped their price target on shares of First Horizon from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, April 18th. 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. Evercore ISI reduced their target price on First Horizon from $18.50 to $17.50 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Stephens began coverage on First Horizon in a research note on Thursday, May 23rd. They set an “overweight” rating and a $19.00 price target for the company. Finally, Barclays lifted their price objective on First Horizon from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Monday, June 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $17.31.

First Horizon Price Performance

Shares of First Horizon stock traded down $0.14 during trading on Thursday, hitting $16.30. 1,495,849 shares of the company were exchanged, compared to its average volume of 6,919,198. The firm has a 50 day moving average price of $15.52 and a 200 day moving average price of $14.86. The stock has a market capitalization of $8.91 billion, a price-to-earnings ratio of 11.40, a P/E/G ratio of 2.51 and a beta of 0.89. 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 $17.46.

First Horizon (NYSE:FHN) last posted its quarterly earnings data 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). The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $819.82 million. First Horizon had a net margin of 16.07% and a return on equity of 8.96%. During the same period in the prior year, the firm earned $0.39 EPS. On average, equities analysts expect that First Horizon will post 1.51 earnings per share for the current fiscal year.

Institutional Trading of First Horizon

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in First Horizon by 4.2% during the third quarter. Vanguard Group Inc. now owns 56,775,050 shares of the financial services provider’s stock valued at $625,661,000 after buying an additional 2,276,977 shares in the last quarter. Handelsinvest Investeringsforvaltning bought a new position in First Horizon during the fourth quarter worth $333,000. Radnor Capital Management LLC boosted its holdings in First Horizon by 13.9% in the fourth quarter. Radnor Capital Management LLC now owns 34,450 shares of the financial services provider’s stock worth $488,000 after purchasing an additional 4,200 shares during the period. Burns Matteson Capital Management LLC bought a new stake in First Horizon during the fourth quarter valued at $818,000. Finally, HB Wealth Management LLC raised its holdings in shares of First Horizon by 10.3% during the fourth quarter. HB Wealth Management LLC now owns 26,071 shares of the financial services provider’s stock worth $369,000 after purchasing an additional 2,433 shares during the period. Institutional investors and hedge funds 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.