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

First Horizon (NYSE:FHN) had its price target lifted by research analysts at Royal Bank of Canada from $19.00 to $20.00 in a research note issued to investors on Thursday, Marketbeat reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 14.55% from the company’s previous close.

Several other brokerages also recently issued reports on FHN. StockNews.com raised First Horizon from a “sell” rating to a “hold” rating in a research note on Saturday, July 20th. Raymond James downgraded First Horizon from a “strong-buy” rating to an “outperform” rating and set a $18.00 target price on the stock. in a research note on Thursday, July 18th. Robert W. Baird reissued a “neutral” rating and set a $16.00 target price on shares of First Horizon in a research note on Tuesday, August 6th. Evercore ISI reduced their price objective on First Horizon from $18.50 to $18.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Finally, Wedbush downgraded First Horizon from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $20.00 to $17.00 in a research note on Tuesday, September 24th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.77.

First Horizon Stock Up 0.1 %

FHN stock opened at $17.46 on Thursday. First Horizon has a twelve month low of $10.16 and a twelve month high of $17.68. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. The stock has a market cap of $9.55 billion, a P/E ratio of 12.21, a PEG ratio of 1.27 and a beta of 0.88. The business’s 50-day moving average price is $15.88 and its 200-day moving average price is $15.58.

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

Hedge Funds Weigh In On First Horizon

Several large investors have recently modified their holdings of the stock. Millennium Management LLC boosted its holdings in First Horizon by 46.5% during the 2nd quarter. Millennium Management LLC now owns 14,370,699 shares of the financial services provider’s stock valued at $226,626,000 after acquiring an additional 4,558,129 shares during the period. LSV Asset Management boosted its holdings in First Horizon by 49.8% during the 1st quarter. LSV Asset Management now owns 13,333,738 shares of the financial services provider’s stock valued at $205,340,000 after acquiring an additional 4,434,929 shares during the period. Jupiter Asset Management Ltd. purchased a new position in First Horizon during the 2nd quarter valued at $66,779,000. Bank of New York Mellon Corp boosted its holdings in First Horizon by 13.6% during the 2nd 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 acquiring an additional 3,870,946 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in First Horizon by 28.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 15,515,494 shares of the financial services provider’s stock valued at $244,647,000 after acquiring an additional 3,470,346 shares during the period. Institutional investors own 80.28% of the company’s stock.

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.