First Horizon (NYSE:FHN) Now Covered by Truist Financial

Equities research analysts at Truist Financial started coverage on shares of First Horizon (NYSE:FHN - Get Free Report) in a note issued to investors on Tuesday. The firm set a "hold" rating and a $21.00 price target on the financial services provider's stock. Truist Financial's price target points to a potential upside of 3.91% from the company's current price.

Other equities analysts have also issued reports about the company. Baird R W upgraded First Horizon from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Barclays dropped their price target on shares of First Horizon from $25.00 to $23.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Royal Bank of Canada lowered their price objective on shares of First Horizon from $24.00 to $22.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. Robert W. Baird raised First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 target price on the stock in a research note on Monday, April 7th. Finally, Wells Fargo & Company decreased their price objective on shares of First Horizon from $22.00 to $20.00 and set an "equal weight" rating for the company in a report on Wednesday, April 9th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $21.97.

First Horizon Price Performance

NYSE:FHN traded up $0.15 during mid-day trading on Tuesday, hitting $20.21. 700,165 shares of the stock traded hands, compared to its average volume of 6,131,334. The company has a market cap of $10.25 billion, a PE ratio of 14.86, a price-to-earnings-growth ratio of 1.19 and a beta of 0.59. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. The business's 50-day moving average price is $18.26 and its 200 day moving average price is $19.75. First Horizon has a 12-month low of $14.09 and a 12-month high of $22.44.

First Horizon (NYSE:FHN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.02. The company had revenue of $823.69 million for the quarter, compared to analysts' expectations of $825.11 million. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. During the same period last year, the firm posted $0.35 EPS. On average, analysts expect that First Horizon will post 1.67 EPS for the current fiscal year.

Institutional Investors Weigh In On First Horizon

Several large investors have recently bought and sold shares of FHN. Belpointe Asset Management LLC grew its stake in shares of First Horizon by 3.1% in the 4th quarter. Belpointe Asset Management LLC now owns 17,631 shares of the financial services provider's stock worth $355,000 after buying an additional 535 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of First Horizon by 3.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 15,731 shares of the financial services provider's stock valued at $317,000 after acquiring an additional 571 shares during the last quarter. HighTower Advisors LLC grew its position in First Horizon by 1.0% in the first quarter. HighTower Advisors LLC now owns 60,510 shares of the financial services provider's stock worth $1,175,000 after acquiring an additional 575 shares in the last quarter. Farther Finance Advisors LLC increased its stake in First Horizon by 29.9% during the fourth quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider's stock worth $52,000 after acquiring an additional 591 shares during the last quarter. Finally, Independent Advisor Alliance raised its position in First Horizon by 1.1% during the fourth quarter. Independent Advisor Alliance now owns 57,730 shares of the financial services provider's stock valued at $1,163,000 after purchasing an additional 632 shares during the period. 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.

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