First Horizon (NYSE:FHN) Price Target Raised to $27.00 at Bank of America

First Horizon (NYSE:FHN - Free Report) had its price objective lifted by Bank of America from $26.00 to $27.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a buy rating on the financial services provider's stock.

Several other equities analysts have also commented on FHN. Barclays increased their target price on First Horizon from $23.00 to $26.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. upped their price target on shares of First Horizon from $19.50 to $22.50 and gave the stock a "neutral" rating in a research report on Tuesday, July 1st. Wall Street Zen lowered shares of First Horizon from a "hold" rating to a "sell" rating in a report on Sunday, June 22nd. Raymond James Financial reissued an "outperform" rating and issued a $24.00 price objective (up from $20.00) on shares of First Horizon in a report on Tuesday, July 8th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $24.00 target price (up from $22.00) on shares of First Horizon in a report on Monday, June 9th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $23.28.

First Horizon Stock Performance

Shares of FHN traded up $0.12 during trading hours on Thursday, reaching $22.33. 9,141,986 shares of the company traded hands, compared to its average volume of 5,960,217. First Horizon has a 12-month low of $14.34 and a 12-month high of $22.44. The business has a fifty day moving average price of $20.56 and a 200-day moving average price of $19.99. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $11.33 billion, a P/E ratio of 14.41, a P/E/G ratio of 1.06 and a beta of 0.61.

First Horizon (NYSE:FHN - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $0.45 EPS for the quarter, beating the consensus estimate of $0.41 by $0.04. The company had revenue of $830.19 million for the quarter, compared to analyst estimates of $832.95 million. First Horizon had a net margin of 17.10% and a return on equity of 10.55%. During the same quarter last year, the business earned $0.36 earnings per share. Equities analysts anticipate that First Horizon will post 1.67 EPS for the current fiscal year.

First Horizon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.69%. The ex-dividend date was Friday, June 13th. First Horizon's payout ratio is presently 38.71%.

Institutional Trading of First Horizon

Institutional investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC boosted its stake in First Horizon by 12.3% during the second quarter. Janney Montgomery Scott LLC now owns 37,754 shares of the financial services provider's stock worth $800,000 after acquiring an additional 4,123 shares in the last quarter. Venture Visionary Partners LLC lifted its stake in First Horizon by 3.5% during the second quarter. Venture Visionary Partners LLC now owns 193,603 shares of the financial services provider's stock worth $4,104,000 after purchasing an additional 6,517 shares during the last quarter. Financial Partners Group LLC increased its holdings in shares of First Horizon by 21.0% in the second quarter. Financial Partners Group LLC now owns 118,484 shares of the financial services provider's stock worth $2,512,000 after buying an additional 20,548 shares during the period. Sage Rhino Capital LLC purchased a new stake in shares of First Horizon during the second quarter worth about $209,000. Finally, Counterpoint Mutual Funds LLC purchased a new stake in shares of First Horizon in the 2nd quarter worth about $313,000. Institutional investors own 80.28% of the company's stock.

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.