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

First Horizon (NYSE:FHN - Get Free Report) had its price target hoisted by stock analysts at Wells Fargo & Company from $20.00 to $23.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an "equal weight" rating on the financial services provider's stock. Wells Fargo & Company's price objective indicates a potential upside of 5.19% from the company's current price.

Several other brokerages also recently commented on FHN. Keefe, Bruyette & Woods dropped their target price on shares of First Horizon from $24.00 to $22.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. Wall Street Zen downgraded shares of First Horizon from a "hold" rating to a "sell" rating in a report on Sunday, June 22nd. JPMorgan Chase & Co. lifted their target price on shares of First Horizon from $19.50 to $22.50 and gave the stock a "neutral" rating in a report on Tuesday, July 1st. Bank of America lifted their target price 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. Finally, Truist Financial initiated coverage on shares of First Horizon in a research report on Tuesday, May 13th. They issued a "hold" rating and a $21.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $23.09.

First Horizon Stock Down 1.1%

Shares of First Horizon stock traded down $0.24 during midday trading on Thursday, reaching $21.87. 3,853,603 shares of the company's stock traded hands, compared to its average volume of 5,992,233. The company has a market cap of $11.09 billion, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 1.11 and a beta of 0.61. First Horizon has a 52 week low of $14.34 and a 52 week high of $22.44. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.95 and a current ratio of 0.96. The company's 50 day simple moving average is $20.27 and its 200 day simple moving average is $19.93.

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

Institutional Trading of First Horizon

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FHN. Millennium Management LLC increased its stake in First Horizon by 102.3% in the fourth quarter. Millennium Management LLC now owns 21,285,306 shares of the financial services provider's stock valued at $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 increased its stake in First Horizon by 496.3% in the fourth 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 acquiring an additional 6,827,040 shares during the period. Norges Bank bought a new stake in First Horizon during the fourth quarter worth about $132,418,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew 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 worth $244,594,000 after buying an additional 4,392,405 shares during the last quarter. Finally, Freestone Grove Partners LP bought a new stake in First Horizon during the fourth quarter worth about $75,485,000. Institutional investors 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.