JPMorgan Chase & Co. Issues Positive Forecast for First Horizon (NYSE:FHN) Stock Price

First Horizon (NYSE:FHN - Get Free Report) had its price target raised by investment analysts at JPMorgan Chase & Co. from $19.50 to $22.50 in a research report issued on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the financial services provider's stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 2.93% from the company's current price.

A number of other equities research analysts also recently weighed in on FHN. Bank of America lifted their target price on First Horizon from $23.00 to $24.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $24.00 price objective (up previously from $22.00) on shares of First Horizon in a research note on Monday, June 9th. Raymond James Financial cut their target price on shares of First Horizon from $23.00 to $22.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods decreased their price target on shares of First Horizon from $24.00 to $22.00 and set a "market perform" rating for the company in a research note on Thursday, April 17th. Finally, Wall Street Zen cut shares of First Horizon from a "hold" rating to a "sell" rating in a research report on Sunday, June 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $22.47.

First Horizon Trading Up 0.5%

Shares of NYSE:FHN traded up $0.10 during trading on Tuesday, reaching $21.86. The stock had a trading volume of 3,032,215 shares, compared to its average volume of 6,027,768. First Horizon has a 52 week low of $14.34 and a 52 week high of $22.44. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.95 and a current ratio of 0.96. The firm's fifty day moving average is $19.90 and its 200 day moving average is $19.86. The stock has a market cap of $11.09 billion, a price-to-earnings ratio of 15.18, a P/E/G ratio of 1.13 and a beta of 0.61.

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

Hedge Funds Weigh In On First Horizon

A number of hedge funds have recently bought and sold shares of FHN. JPMorgan Chase & Co. raised its holdings in shares of First Horizon by 160.1% in the fourth quarter. JPMorgan Chase & Co. now owns 5,524,827 shares of the financial services provider's stock valued at $111,270,000 after purchasing an additional 3,400,811 shares during the last quarter. SG Americas Securities LLC grew its position in First Horizon by 286.9% in the 1st quarter. SG Americas Securities LLC now owns 63,346 shares of the financial services provider's stock worth $1,230,000 after purchasing an additional 46,975 shares in the last quarter. LifeWealth Investments LLC purchased a new stake in First Horizon in the 1st quarter valued at about $256,000. GAMMA Investing LLC lifted its position in shares of First Horizon by 2,658.3% during the 1st quarter. GAMMA Investing LLC now owns 251,470 shares of the financial services provider's stock worth $4,884,000 after buying an additional 242,353 shares in the last quarter. Finally, CWA Asset Management Group LLC purchased a new position in shares of First Horizon in the 1st quarter worth approximately $2,401,000. 80.28% of the stock is owned by hedge funds and other institutional investors.

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.