Brokerages Set First Horizon Corporation (NYSE:FHN) Target Price at $27.16

First Horizon Corporation (NYSE:FHN) has been assigned a consensus rating of “Hold” from the twenty research firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $27.1579.

A number of equities research analysts recently weighed in on FHN shares. JPMorgan Chase & Co. dropped their price target on First Horizon from $28.50 to $27.00 and set a “neutral” rating on the stock in a research note on Thursday, July 16th. Barclays reduced their price objective on shares of First Horizon from $30.00 to $29.00 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. National Bank Financial set a $29.00 price objective on shares of First Horizon in a report on Thursday, July 16th. Fundamental Research set a $28.50 price objective on shares of First Horizon in a report on Wednesday, July 1st. Finally, Wells Fargo & Company increased their price objective on shares of First Horizon from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Monday, July 6th.

First Horizon Price Performance

Shares of NYSE FHN opened at $26.02 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.15. The business’s 50 day moving average price is $25.02 and its two-hundred day moving average price is $24.34. The company has a market cap of $12.35 billion, a PE ratio of 12.45, a price-to-earnings-growth ratio of 1.01 and a beta of 0.60. First Horizon has a twelve month low of $19.80 and a twelve month high of $26.56.

First Horizon (NYSE:FHN) last released its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. First Horizon had a return on equity of 12.06% and a net margin of 21.12%.The company had revenue of $890.00 million during the quarter, compared to analysts’ expectations of $878.42 million. During the same period last year, the firm posted $0.45 earnings per share. On average, analysts predict that First Horizon will post 2.15 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FHN. Kestra Investment Management LLC boosted its holdings in shares of First Horizon by 873.1% during the second quarter. Kestra Investment Management LLC now owns 1,625 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 1,458 shares during the period. Geneos Wealth Management Inc. increased its stake in shares of 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 period. Cary Street Partners Investment Advisory LLC increased its stake in shares of First Horizon by 1,348.2% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 2,013 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 1,874 shares during the period. Basecamp Wealth Advisors LLC lifted its holdings in First Horizon by 56.2% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 2,073 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 746 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in First Horizon during the 4th quarter worth approximately $51,000. 80.28% of the stock is owned by institutional investors.

First Horizon Company Profile

First Horizon Corporation, headquartered in Memphis, Tennessee, is a diversified financial services company providing an array of retail, commercial and wealth management solutions. As the largest bank-based financial services firm in Tennessee, First Horizon operates through a network of branches and digital platforms across the Southeastern United States, offering personal and business banking, mortgage origination and servicing, payment solutions and treasury management services.

Tracing its origins to the First National Bank of Memphis established in 1864, First Horizon has grown through strategic acquisitions and organic expansion to serve customers in Tennessee, Texas, North Carolina, South Carolina, Georgia and Florida.