First Horizon (NYSE:FHN) Stock Price Expected to Rise, Barclays Analyst Says

First Horizon (NYSE:FHN - Get Free Report) had its price objective increased by equities researchers at Barclays from $23.00 to $26.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the financial services provider's stock. Barclays's price objective points to a potential upside of 18.42% from the stock's previous close.

Several other research analysts have also commented on FHN. Bank of America lifted their price target on First Horizon from $23.00 to $24.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. JPMorgan Chase & Co. lifted their price target on First Horizon from $19.50 to $22.50 and gave the stock a "neutral" rating in a report on Tuesday, July 1st. Robert W. Baird upgraded First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 price target on the stock in a report on Monday, April 7th. Truist Financial began coverage on First Horizon in a report on Tuesday, May 13th. They set a "hold" rating and a $21.00 price target on the stock. Finally, Keefe, Bruyette & Woods reduced their price target on First Horizon from $24.00 to $22.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.09.

First Horizon Price Performance

FHN stock traded down $0.15 during midday trading on Tuesday, reaching $21.96. The stock had a trading volume of 2,323,867 shares, compared to its average volume of 6,002,057. The company's fifty day simple moving average is $20.21 and its 200 day simple moving average is $19.92. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.20. The company has a market cap of $11.14 billion, a price-to-earnings ratio of 15.25, a price-to-earnings-growth ratio of 1.13 and a beta of 0.61. First Horizon has a 52-week low of $14.34 and a 52-week high of $22.44.

First Horizon (NYSE:FHN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.42 EPS for the quarter, topping the consensus estimate of $0.40 by $0.02. First Horizon had a return on equity of 10.33% and a net margin of 16.13%. The business had revenue of $823.69 million for the quarter, compared to analyst estimates of $825.11 million. During the same quarter in the previous year, the firm earned $0.35 EPS. As a group, sell-side analysts predict that First Horizon will post 1.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On First Horizon

Several institutional investors have recently bought and sold shares of the company. Exchange Traded Concepts LLC acquired a new position in First Horizon in the 2nd quarter valued at about $4,694,000. Wealth Enhancement Advisory Services LLC grew its position in First Horizon by 2.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 145,923 shares of the financial services provider's stock valued at $3,212,000 after acquiring an additional 4,068 shares in the last quarter. Atticus Wealth Management LLC acquired a new position in First Horizon in the 2nd quarter valued at about $98,000. Wedmont Private Capital grew its position in First Horizon by 8.0% in the 2nd quarter. Wedmont Private Capital now owns 43,548 shares of the financial services provider's stock valued at $955,000 after acquiring an additional 3,244 shares in the last quarter. Finally, Radnor Capital Management LLC grew its position in First Horizon by 4.3% in the 2nd quarter. Radnor Capital Management LLC now owns 30,925 shares of the financial services provider's stock valued at $656,000 after acquiring an additional 1,275 shares in the last quarter. 80.28% of the stock is owned by institutional investors and hedge funds.

First Horizon Company Profile

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.