First Horizon (NYSE:FHN) Price Target Increased to $16.00 by Analysts at Robert W. Baird

First Horizon (NYSE:FHN - Get Free Report) had its target price increased by Robert W. Baird from $15.00 to $16.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a "neutral" rating on the financial services provider's stock. Robert W. Baird's price target would indicate a potential upside of 12.04% from the stock's previous close.

A number of other equities research analysts have also weighed in on FHN. Wells Fargo & Company lifted their target price on First Horizon from $14.00 to $16.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 10th. StockNews.com lowered First Horizon from a "hold" rating to a "sell" rating in a research report on Wednesday, February 7th. UBS Group raised First Horizon from a "neutral" rating to a "buy" rating and lifted their target price for the company from $15.50 to $16.00 in a research report on Wednesday, January 24th. Evercore ISI boosted their price target on First Horizon from $17.00 to $17.50 and gave the stock an "outperform" rating in a research report on Thursday, March 28th. Finally, JPMorgan Chase & Co. boosted their price target on First Horizon from $16.00 to $17.50 and gave the stock a "neutral" rating in a research report on Thursday, April 4th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, First Horizon has an average rating of "Moderate Buy" and an average target price of $16.15.

First Horizon Trading Up 0.8 %

FHN traded up $0.11 during trading hours on Thursday, reaching $14.28. 5,732,063 shares of the company's stock traded hands, compared to its average volume of 7,181,562. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $14.53 and a 200 day moving average price of $13.34. The firm has a market capitalization of $7.92 billion, a PE ratio of 9.33, a PEG ratio of 3.95 and a beta of 0.94. First Horizon has a 52-week low of $8.99 and a 52-week high of $18.99.

First Horizon (NYSE:FHN - Get Free Report) last issued its earnings results on Wednesday, April 17th. The financial services provider reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. The business had revenue of $819.00 million during the quarter, compared to analyst estimates of $809.51 million. First Horizon had a return on equity of 9.94% and a net margin of 17.80%. First Horizon's revenue was down 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.46 EPS. As a group, sell-side analysts predict that First Horizon will post 1.45 EPS for the current fiscal year.

First Horizon announced that its board has authorized a stock buyback plan on Tuesday, January 23rd that permits the company to buyback $650.00 million in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 7.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its shares are undervalued.

Institutional Trading of First Horizon

Several large investors have recently added to or reduced their stakes in the company. State of Michigan Retirement System grew its stake in First Horizon by 2.4% during the 1st quarter. State of Michigan Retirement System now owns 137,256 shares of the financial services provider's stock valued at $2,114,000 after purchasing an additional 3,200 shares during the last quarter. Oak Thistle LLC purchased a new stake in First Horizon during the 1st quarter valued at about $701,000. Register Financial Advisors LLC purchased a new stake in First Horizon during the 1st quarter valued at about $85,000. Wealth Enhancement Advisory Services LLC grew its stake in First Horizon by 1.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 106,112 shares of the financial services provider's stock valued at $1,634,000 after purchasing an additional 2,029 shares during the last quarter. Finally, Gateway Investment Advisers LLC grew its stake in First Horizon by 10.3% during the 1st quarter. Gateway Investment Advisers LLC now owns 73,319 shares of the financial services provider's stock valued at $1,129,000 after purchasing an additional 6,876 shares during the last quarter. Hedge funds and other institutional investors own 80.28% of the company's stock.

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.