First Horizon (NYSE:FHN) PT Lowered to $18.50 at Evercore ISI

First Horizon (NYSE:FHN) had its price objective lowered by equities research analysts at Evercore ISI from $19.50 to $18.50 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Evercore ISI’s price objective suggests a potential upside of 16.06% from the company’s current price.

Several other research firms have also recently issued reports on FHN. Royal Bank of Canada lifted their price objective on shares of First Horizon from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Raymond James cut shares of First Horizon from a “strong-buy” rating to an “outperform” rating and set a $18.00 price target on the stock. in a research report on Thursday, July 18th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $18.00 price target on shares of First Horizon in a research report on Wednesday, July 17th. StockNews.com upgraded shares of First Horizon from a “sell” rating to a “hold” rating in a research report on Saturday, July 20th. Finally, Jefferies Financial Group boosted their price target on shares of First Horizon from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.38.

First Horizon Price Performance

NYSE:FHN traded up $0.14 during trading hours on Tuesday, hitting $15.94. 79,169 shares of the stock traded hands, compared to its average volume of 6,443,634. The company has a market cap of $8.72 billion, a price-to-earnings ratio of 11.18, a price-to-earnings-growth ratio of 3.09 and a beta of 0.88. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. First Horizon has a 1 year low of $10.08 and a 1 year high of $17.46. The stock has a 50 day moving average price of $15.98 and a 200 day moving average price of $15.42.

First Horizon (NYSE:FHN) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $819.82 million. First Horizon had a net margin of 14.03% and a return on equity of 8.84%. During the same quarter in the previous year, the business earned $0.39 EPS. Sell-side analysts forecast that First Horizon will post 1.46 EPS for the current fiscal year.

Institutional Trading of First Horizon

A number of large investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC purchased a new stake in shares of First Horizon during the second quarter valued at $312,000. Cetera Investment Advisers boosted its stake in shares of First Horizon by 79.7% during the second quarter. Cetera Investment Advisers now owns 105,574 shares of the financial services provider’s stock valued at $1,665,000 after purchasing an additional 46,812 shares during the period. Truist Financial Corp boosted its stake in shares of First Horizon by 48.9% during the second quarter. Truist Financial Corp now owns 65,402 shares of the financial services provider’s stock valued at $1,031,000 after purchasing an additional 21,475 shares during the period. NewEdge Advisors LLC boosted its stake in shares of First Horizon by 57.7% during the second quarter. NewEdge Advisors LLC now owns 349,372 shares of the financial services provider’s stock valued at $5,510,000 after purchasing an additional 127,893 shares during the period. Finally, Creative Planning boosted its stake in shares of First Horizon by 11.1% during the second quarter. Creative Planning now owns 82,745 shares of the financial services provider’s stock valued at $1,305,000 after purchasing an additional 8,263 shares during the period. 80.28% of the stock is owned by hedge funds and other institutional investors.

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.