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

First Horizon (NYSE:FHN) had its price objective cut by equities researchers at JPMorgan Chase & Co. from $19.00 to $18.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 14.10% from the stock’s previous close.

FHN has been the subject of several other research reports. Robert W. Baird reaffirmed a “neutral” rating and issued a $16.00 price target on shares of First Horizon in a report on Tuesday, August 6th. Royal Bank of Canada raised their price objective on shares of First Horizon from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Barclays upped their target price on shares of First Horizon from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Monday, June 24th. Evercore ISI cut their price target on shares of First Horizon from $18.50 to $18.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Finally, Jefferies Financial Group raised their target price on First Horizon from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.38.

First Horizon Stock Performance

Shares of NYSE FHN opened at $15.78 on Wednesday. First Horizon has a 12 month low of $10.16 and a 12 month high of $17.46. The company has a market cap of $8.63 billion, a P/E ratio of 11.03, a P/E/G ratio of 3.17 and a beta of 0.88. The business’s 50 day moving average is $15.63 and its two-hundred day moving average is $15.50. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14.

First Horizon (NYSE:FHN) last released its earnings results on Wednesday, July 17th. The financial services provider reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $819.82 million. First Horizon had a net margin of 14.03% and a return on equity of 8.84%. During the same quarter in the previous year, the company earned $0.39 earnings per share. On average, equities analysts expect that First Horizon will post 1.46 EPS for the current year.

Institutional Investors Weigh In On First Horizon

Institutional investors and hedge funds have recently made changes to their positions in the company. Rise Advisors LLC acquired a new stake in First Horizon in the first quarter worth about $25,000. UMB Bank n.a. increased its stake in First Horizon by 365.0% in the third 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 in the last quarter. Raleigh Capital Management Inc. acquired a new stake in First Horizon in the fourth quarter worth $28,000. Fidelis Capital Partners LLC bought a new position in shares of First Horizon during the first quarter worth $28,000. Finally, Family Firm Inc. acquired a new position in shares of First Horizon in the 2nd quarter valued at $28,000. 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.