First Horizon (NYSE:FHN) PT Raised to $20.00

First Horizon (NYSE:FHN) had its target price hoisted by analysts at Royal Bank of Canada from $19.00 to $20.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s price target suggests a potential upside of 14.88% from the stock’s current price.

Several other equities analysts have also weighed in on FHN. Barclays lifted their price objective on First Horizon from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Monday, June 24th. Wedbush lowered First Horizon from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $20.00 to $17.00 in a research note on Tuesday, September 24th. Jefferies Financial Group lifted their price objective on First Horizon from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Raymond James lowered First Horizon from a “strong-buy” rating to an “outperform” rating and set a $18.00 target price for the company. in a research report on Thursday, July 18th. Finally, Evercore ISI decreased their target price on First Horizon from $18.50 to $18.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $17.46.

First Horizon Stock Up 0.1 %

Shares of NYSE:FHN opened at $17.41 on Thursday. The stock’s 50-day moving average price is $15.78 and its two-hundred day moving average price is $15.55. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. First Horizon has a 12-month low of $10.16 and a 12-month high of $17.61. The firm has a market cap of $9.52 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 1.27 and a beta of 0.88.

First Horizon (NYSE:FHN) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. First Horizon had a return on equity of 8.84% and a net margin of 14.03%. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $821.63 million. During the same period last year, the company earned $0.27 EPS. On average, research analysts forecast that First Horizon will post 1.46 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FHN. Millennium Management LLC raised its position in First Horizon by 46.5% during the second quarter. Millennium Management LLC now owns 14,370,699 shares of the financial services provider’s stock valued at $226,626,000 after buying an additional 4,558,129 shares during the period. LSV Asset Management raised its position in First Horizon by 49.8% during the first quarter. LSV Asset Management now owns 13,333,738 shares of the financial services provider’s stock valued at $205,340,000 after buying an additional 4,434,929 shares during the period. Jupiter Asset Management Ltd. acquired a new position in First Horizon during the second quarter valued at $66,779,000. Bank of New York Mellon Corp raised its position in First Horizon by 13.6% during the second quarter. Bank of New York Mellon Corp now owns 32,389,497 shares of the financial services provider’s stock valued at $510,782,000 after buying an additional 3,870,946 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in First Horizon by 28.8% during the second quarter. Dimensional Fund Advisors LP now owns 15,515,494 shares of the financial services provider’s stock valued at $244,647,000 after buying an additional 3,470,346 shares during the period. 80.28% of the stock is owned by institutional investors and hedge funds.

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.