First Horizon (NYSE:FHN) Coverage Initiated by Analysts at Jefferies Financial Group

Stock analysts at Jefferies Financial Group started coverage on shares of First Horizon (NYSE:FHN - Get Free Report) in a research note issued on Wednesday, Marketbeat reports. The brokerage set a "buy" rating and a $25.00 price target on the financial services provider's stock. Jefferies Financial Group's price target would suggest a potential upside of 26.39% from the company's current price.

Several other equities research analysts have also recently issued reports on FHN. Barclays decreased their price objective 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. Baird R W raised First Horizon from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Wall Street Zen raised First Horizon from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Robert W. Baird raised First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 price target for the company in a report on Monday, April 7th. Finally, Bank of America raised their price objective on shares of First Horizon from $23.00 to $24.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.41.

First Horizon Trading Up 0.1%

NYSE:FHN traded up $0.02 during trading hours on Wednesday, reaching $19.78. 6,280,892 shares of the stock were exchanged, compared to its average volume of 6,189,955. First Horizon has a twelve month low of $14.09 and a twelve month high of $22.44. The business has a 50-day moving average of $18.51 and a two-hundred day moving average of $19.89. The company has a market capitalization of $10.03 billion, a price-to-earnings ratio of 14.54, a PEG 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.

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

Institutional Trading of First Horizon

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC raised its stake in shares of First Horizon by 169.1% during the 3rd quarter. Barclays PLC now owns 1,886,828 shares of the financial services provider's stock worth $29,301,000 after buying an additional 1,185,772 shares during the last quarter. Ritholtz Wealth Management acquired a new position in First Horizon during the fourth quarter valued at approximately $352,000. Merit Financial Group LLC acquired a new position in shares of First Horizon during the 4th quarter valued at $453,000. UMB Bank n.a. increased its holdings in First Horizon by 63.4% in the 4th quarter. UMB Bank n.a. now owns 2,758 shares of the financial services provider's stock valued at $56,000 after purchasing an additional 1,070 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of First Horizon by 335.6% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider's stock worth $52,000 after purchasing an additional 2,000 shares in the last quarter. Institutional investors and hedge funds 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.