First Horizon (NYSE:FHN) PT Raised to $18.00 at Jefferies Financial Group

First Horizon (NYSE:FHN) had its target price raised by research analysts at Jefferies Financial Group from $17.00 to $18.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Jefferies Financial Group’s target price indicates a potential upside of 15.98% from the company’s current price.

Several other equities research analysts also recently weighed in on the company. JPMorgan Chase & Co. increased their price target on First Horizon from $16.00 to $17.50 and gave the company a “neutral” rating in a research report on Thursday, April 4th. Evercore ISI reduced their target price on shares of First Horizon from $18.50 to $17.50 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Robert W. Baird boosted their price target on shares of First Horizon from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, April 18th. Stephens initiated coverage on shares of First Horizon in a research report on Thursday, May 23rd. They issued an “overweight” rating and a $19.00 price objective on the stock. Finally, Wells Fargo & Company lifted their price objective on shares of First Horizon from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $17.15.

First Horizon Trading Down 1.8 %

Shares of FHN stock opened at $15.52 on Wednesday. The stock has a market capitalization of $8.49 billion, a P/E ratio of 10.85, a price-to-earnings-growth ratio of 2.12 and a beta of 0.89. First Horizon has a fifty-two week low of $10.08 and a fifty-two week high of $16.28. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.95 and a current ratio of 0.96. The company has a 50 day moving average price of $15.38 and a 200 day moving average price of $14.72.

First Horizon (NYSE:FHN) last posted its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. The business had revenue of $819.00 million during the quarter, compared to the consensus estimate of $809.51 million. First Horizon had a net margin of 16.07% and a return on equity of 8.96%. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.46 earnings per share. Equities research analysts predict that First Horizon will post 1.51 EPS for the current fiscal year.

Institutional Investors Weigh In On First Horizon

Several large investors have recently modified their holdings of the company. Rise Advisors LLC purchased a new stake in First Horizon in the 1st quarter valued at $25,000. Raleigh Capital Management Inc. purchased a new stake in shares of First Horizon in the fourth quarter valued at about $28,000. Fidelis Capital Partners LLC acquired a new stake in shares of First Horizon during the first quarter worth about $28,000. Fortitude Family Office LLC grew its holdings in shares of First Horizon by 129.3% during the first quarter. Fortitude Family Office LLC now owns 1,954 shares of the financial services provider’s stock worth $30,000 after buying an additional 1,102 shares during the last quarter. Finally, Richardson Financial Services Inc. acquired a new position in First Horizon in the 4th quarter valued at about $35,000. 80.28% of the stock is owned by institutional investors and hedge funds.

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.