First Horizon (NYSE:FHN) Given New $23.00 Price Target at Truist Financial

First Horizon (NYSE:FHN - Get Free Report) had its target price increased by investment analysts at Truist Financial from $21.00 to $23.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a "hold" rating on the financial services provider's stock. Truist Financial's target price would suggest a potential upside of 4.14% from the stock's previous close.

Several other analysts have also commented on the stock. Royal Bank Of Canada reiterated an "outperform" rating and issued a $24.00 price target (up from $22.00) on shares of First Horizon in a research report on Monday, June 9th. Wells Fargo & Company boosted their price objective on shares of First Horizon from $20.00 to $23.00 and gave the stock an "equal weight" rating in a research note on Thursday. Raymond James Financial reissued an "outperform" rating and set a $24.00 target price (up from $20.00) on shares of First Horizon in a research report on Tuesday. JPMorgan Chase & Co. upped their price target on shares of First Horizon from $19.50 to $22.50 and gave the company a "neutral" rating in a report on Tuesday, July 1st. Finally, Barclays upped their price target on shares of First Horizon from $23.00 to $26.00 and gave the stock an "overweight" rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $23.09.

First Horizon Trading Up 0.7%

NYSE FHN opened at $22.09 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.20. First Horizon has a 52 week low of $14.34 and a 52 week high of $22.44. The stock has a market capitalization of $11.20 billion, a PE ratio of 15.34, a price-to-earnings-growth ratio of 1.13 and a beta of 0.61. The firm has a 50 day moving average of $20.21 and a two-hundred day moving average of $19.92.

First Horizon (NYSE:FHN - Get Free Report) last announced its earnings results on Wednesday, April 16th. The financial services provider reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.02. The business had revenue of $823.69 million during the quarter, compared to analysts' expectations of $825.11 million. First Horizon had a net margin of 16.13% and a return on equity of 10.33%. During the same period in the prior year, the company earned $0.35 earnings per share. As a group, research analysts expect that First Horizon will post 1.67 EPS for the current fiscal year.

Institutional Trading of First Horizon

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC acquired a new position in shares of First Horizon in the 2nd quarter valued at approximately $4,694,000. Wealth Enhancement Advisory Services LLC raised its stake 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 during the period. Atticus Wealth Management LLC bought a new stake in First Horizon in the 2nd quarter valued at $98,000. Wedmont Private Capital raised its stake 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 during the period. Finally, Radnor Capital Management LLC increased its position in First Horizon by 4.3% during the 2nd quarter. Radnor Capital Management LLC now owns 30,925 shares of the financial services provider's stock worth $656,000 after buying an additional 1,275 shares during the period. 80.28% of the stock is currently owned by institutional investors and hedge funds.

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.

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