First Horizon (NYSE:FHN) Given Outperform Rating at Raymond James Financial

First Horizon (NYSE:FHN - Get Free Report)'s stock had its "outperform" rating reissued by research analysts at Raymond James Financial in a report issued on Tuesday,Benzinga reports. They presently have a $24.00 price objective on the financial services provider's stock, up from their prior price objective of $20.00. Raymond James Financial's target price would indicate a potential upside of 8.89% from the stock's current price.

A number of other research firms have also issued reports on FHN. Baird R W raised shares of First Horizon from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Robert W. Baird upgraded First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 target price on the stock in a report on Monday, April 7th. JPMorgan Chase & Co. boosted their target price on First Horizon from $19.50 to $22.50 and gave the stock a "neutral" rating in a report on Tuesday, July 1st. Truist Financial began coverage on First Horizon in a report on Tuesday, May 13th. They set a "hold" rating and a $21.00 target price on the stock. Finally, Wells Fargo & Company lowered their target price on First Horizon from $22.00 to $20.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 9th. One 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. According to MarketBeat, First Horizon has an average rating of "Moderate Buy" and a consensus target price of $22.97.

First Horizon Stock Performance

FHN traded up $0.10 on Tuesday, reaching $22.04. The stock had a trading volume of 348,801 shares, compared to its average volume of 5,992,218. First Horizon has a 12-month low of $14.34 and a 12-month high of $22.44. 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 business's 50-day moving average price is $20.13 and its two-hundred day moving average price is $19.91. The company has a market cap of $11.18 billion, a P/E ratio of 15.30, a price-to-earnings-growth ratio of 1.13 and a beta of 0.61.

First Horizon (NYSE:FHN - Get Free Report) last released its quarterly earnings data 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 company had revenue of $823.69 million during the quarter, compared to analysts' expectations of $825.11 million. During the same quarter in the previous year, the company earned $0.35 earnings per share. Sell-side analysts forecast that First Horizon will post 1.67 earnings per share for the current year.

Institutional Trading of First Horizon

A number of hedge funds have recently bought and sold shares of the company. Jones Financial Companies Lllp purchased a new position in First Horizon during the fourth quarter worth about $30,000. Byrne Asset Management LLC increased its position in First Horizon by 115.3% during the first quarter. Byrne Asset Management LLC now owns 1,550 shares of the financial services provider's stock worth $30,000 after purchasing an additional 830 shares during the last quarter. Geneos Wealth Management Inc. increased its position in First Horizon by 156.7% during the first quarter. Geneos Wealth Management Inc. now owns 1,794 shares of the financial services provider's stock worth $35,000 after purchasing an additional 1,095 shares during the last quarter. Compass Financial Services Inc acquired a new position in First Horizon during the first quarter worth approximately $38,000. Finally, Quarry LP increased its position in First Horizon by 129.2% during the first quarter. Quarry LP now owns 2,205 shares of the financial services provider's stock worth $43,000 after purchasing an additional 1,243 shares during the last quarter. Institutional investors and hedge funds 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.