First Horizon (NYSE:FHN) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

First Horizon (NYSE:FHN - Get Free Report) had its target price increased by stock analysts at JPMorgan Chase & Co. from $19.50 to $22.50 in a research note issued to investors 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 suggest a potential upside of 4.60% from the company's previous close.

Other equities analysts have also recently issued reports about the stock. Barclays decreased 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 note on Tuesday, April 8th. Baird R W upgraded shares of First Horizon from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Truist Financial began coverage on shares of First Horizon in a research note on Tuesday, May 13th. They set a "hold" rating and a $21.00 price objective for the company. Keefe, Bruyette & Woods decreased their price objective on First Horizon from $24.00 to $22.00 and set a "market perform" rating for the company in a report on Thursday, April 17th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $24.00 target price (up previously from $22.00) on shares of First Horizon in a report on Monday, June 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $22.47.

First Horizon Stock Up 1.5%

Shares of NYSE:FHN traded up $0.31 during trading on Tuesday, hitting $21.51. 7,375,926 shares of the company's stock traded hands, compared to its average volume of 6,027,909. 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 50-day moving average price of $19.56 and a 200-day moving average price of $19.81. First Horizon has a 52 week low of $14.34 and a 52 week high of $22.44. The company has a market cap of $10.91 billion, a price-to-earnings ratio of 14.94, a price-to-earnings-growth ratio of 1.08 and a beta of 0.61.

First Horizon (NYSE:FHN - Get Free Report) last announced its quarterly earnings results 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. First Horizon had a net margin of 16.13% and a return on equity of 10.33%. The firm 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 posted $0.35 earnings per share. As a group, research analysts forecast that First Horizon will post 1.67 EPS for the current fiscal year.

Hedge Funds Weigh In On First Horizon

Several large investors have recently modified their holdings of the stock. Belpointe Asset Management LLC boosted its holdings in shares of First Horizon by 3.1% during 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 during the period. Steward Partners Investment Advisory LLC boosted its holdings in shares of First Horizon by 3.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 15,731 shares of the financial services provider's stock worth $317,000 after acquiring an additional 571 shares during the period. HighTower Advisors LLC grew its position in shares of First Horizon by 1.0% in the first quarter. HighTower Advisors LLC now owns 60,510 shares of the financial services provider's stock valued at $1,175,000 after purchasing an additional 575 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of 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 purchasing an additional 591 shares during the period. Finally, Independent Advisor Alliance lifted its holdings in First Horizon by 1.1% during the 4th quarter. Independent Advisor Alliance now owns 57,730 shares of the financial services provider's stock worth $1,163,000 after purchasing an additional 632 shares during the last quarter. 80.28% of the stock is owned by institutional investors.

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.