First Horizon (NYSE:FHN) Price Target Raised to $23.00

First Horizon (NYSE:FHN - Get Free Report) had its target price raised by Wells Fargo & Company from $20.00 to $23.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an "equal weight" rating on the financial services provider's stock. Wells Fargo & Company's target price would suggest a potential upside of 4.84% from the company's current price.

Several other research firms have also weighed in on FHN. Bank of America boosted their target price on shares of First Horizon from $23.00 to $24.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. JPMorgan Chase & Co. lifted their price target on shares of First Horizon from $19.50 to $22.50 and gave the company a "neutral" rating in a report on Tuesday, July 1st. Truist Financial began coverage on shares of First Horizon in a report on Tuesday, May 13th. They issued a "hold" rating and a $21.00 target price on the stock. Barclays raised their target price on shares of First Horizon from $23.00 to $26.00 and gave the stock an "overweight" rating in a report on Tuesday. Finally, Wall Street Zen cut First Horizon from a "hold" rating to a "sell" rating in a research report on Sunday, June 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $23.09.

First Horizon Stock Down 0.7%

NYSE:FHN traded down $0.16 during mid-day trading on Thursday, reaching $21.94. The stock had a trading volume of 2,086,915 shares, compared to its average volume of 6,001,148. The company has a market capitalization of $11.13 billion, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 1.13 and a beta of 0.61. First Horizon has a 1-year low of $14.34 and a 1-year high of $22.44. The stock's 50 day simple moving average is $20.21 and its two-hundred day simple moving average is $19.92. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.96 and a quick ratio of 0.95.

First Horizon (NYSE:FHN - Get Free Report) last released its earnings results on Wednesday, April 16th. The financial services provider reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.02. First Horizon had a return on equity of 10.33% and a net margin of 16.13%. The company had revenue of $823.69 million for the quarter, compared to the consensus estimate of $825.11 million. During the same quarter last year, the business posted $0.35 EPS. Equities analysts anticipate that First Horizon will post 1.67 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Millennium Management LLC grew its holdings in First Horizon by 102.3% during the fourth quarter. Millennium Management LLC now owns 21,285,306 shares of the financial services provider's stock worth $428,686,000 after acquiring an additional 10,763,349 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of First Horizon by 496.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,202,539 shares of the financial services provider's stock valued at $165,199,000 after purchasing an additional 6,827,040 shares in the last quarter. Norges Bank acquired a new stake in First Horizon during the fourth quarter valued at approximately $132,418,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in First Horizon by 53.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,594,944 shares of the financial services provider's stock valued at $244,594,000 after purchasing an additional 4,392,405 shares during the last quarter. Finally, Freestone Grove Partners LP acquired a new stake in First Horizon during the fourth quarter valued at approximately $75,485,000. 80.28% of the stock is currently owned by institutional investors.

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.