First Horizon (NYSE:FHN) Stock Price Expected to Rise, Truist Financial Analyst Says

Key Points

• Truist Financial raised its price target on First Horizon from $26 to $27 while keeping a hold rating, implying about 4.75% upside from the current share price.
• Analyst sentiment is mixed overall: the stock has nine Buy ratings, eleven Hold ratings, and one Sell rating, with a consensus price target of $27.12.
• First Horizon recently beat earnings expectations, reporting $0.53 EPS versus the expected $0.49, while revenue rose 6.2% year over year; the stock last traded at $25.77, up 0.3% on the day.

First Horizon (NYSE:FHN - Get Free Report) had its target price increased by analysts at Truist Financial from $26.00 to $27.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "hold" rating on the financial services provider's stock. Truist Financial's price target would indicate a potential upside of 4.75% from the company's current price.

Several other equities analysts have also recently weighed in on FHN. Barclays reduced their price target on First Horizon from $30.00 to $29.00 and set an "overweight" rating for the company in a research report on Tuesday, April 7th. Zacks Research cut First Horizon from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 20th. Wells Fargo & Company upped their target price on shares of First Horizon from $25.00 to $26.00 and gave the stock an "equal weight" rating in a research report on Monday. UBS Group lowered shares of First Horizon from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $29.00 to $25.00 in a report on Tuesday, April 7th. Finally, Wall Street Zen lowered shares of First Horizon from a "hold" rating to a "sell" rating in a report on Saturday, June 27th. Nine research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $27.12.

First Horizon Stock Up 0.3%

NYSE:FHN traded up $0.09 on Friday, hitting $25.77. The stock had a trading volume of 873,807 shares, compared to its average volume of 5,315,948. The company has a market cap of $12.23 billion, a PE ratio of 12.88, a P/E/G ratio of 0.98 and a beta of 0.60. The business's fifty day moving average is $24.66 and its 200 day moving average is $24.22. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.15. First Horizon has a 52 week low of $19.80 and a 52 week high of $26.56.

First Horizon (NYSE:FHN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $0.53 EPS for the quarter, beating the consensus estimate of $0.49 by $0.04. The firm had revenue of $865.00 million during the quarter, compared to analyst estimates of $869.49 million. First Horizon had a net margin of 20.54% and a return on equity of 11.65%. The company's revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter last year, the business posted $0.42 EPS. On average, equities research analysts expect that First Horizon will post 2.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Kestra Investment Management LLC grew its position in First Horizon by 873.1% during the 2nd quarter. Kestra Investment Management LLC now owns 1,625 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 1,458 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of First Horizon by 156.7% in the first quarter. Geneos Wealth Management Inc. now owns 1,794 shares of the financial services provider's stock worth $35,000 after buying an additional 1,095 shares in the last quarter. Basecamp Wealth Advisors LLC lifted its stake in shares of First Horizon by 56.2% in the first quarter. Basecamp Wealth Advisors LLC now owns 2,073 shares of the financial services provider's stock worth $47,000 after buying an additional 746 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its holdings in shares of First Horizon by 1,348.2% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 2,013 shares of the financial services provider's stock valued at $48,000 after buying an additional 1,874 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in shares of First Horizon during the fourth quarter valued at approximately $51,000. 80.28% of the stock is currently owned by institutional investors.

First Horizon Company Profile

First Horizon Corporation, headquartered in Memphis, Tennessee, is a diversified financial services company providing an array of retail, commercial and wealth management solutions. As the largest bank-based financial services firm in Tennessee, First Horizon operates through a network of branches and digital platforms across the Southeastern United States, offering personal and business banking, mortgage origination and servicing, payment solutions and treasury management services.

Tracing its origins to the First National Bank of Memphis established in 1864, First Horizon has grown through strategic acquisitions and organic expansion to serve customers in Tennessee, Texas, North Carolina, South Carolina, Georgia and Florida.

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