First Horizon (NYSE:FHN) Price Target Raised to $25.00

First Horizon (NYSE:FHN) had its price objective boosted by Citigroup from $24.00 to $25.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Citigroup’s price target points to a potential upside of 16.96% from the stock’s previous close.

A number of other research analysts also recently weighed in on the company. Keefe, Bruyette & Woods raised their price objective on First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. The Goldman Sachs Group lifted their price target on First Horizon from $18.50 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Royal Bank of Canada lifted their price objective on First Horizon from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Bank of America lifted their price objective on First Horizon from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Finally, Wells Fargo & Company lifted their price objective on First Horizon from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.23.

First Horizon Stock Up 1.7 %

Shares of FHN traded up $0.36 during midday trading on Friday, reaching $21.38. 3,481,254 shares of the stock were exchanged, compared to its average volume of 5,536,167. First Horizon has a 12-month low of $13.72 and a 12-month high of $22.44. The firm has a 50 day simple moving average of $21.13 and a 200-day simple moving average of $18.81. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. The company has a market cap of $11.33 billion, a price-to-earnings ratio of 15.72, a P/E/G ratio of 1.19 and a beta of 0.92.

First Horizon (NYSE:FHN) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.05. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. During the same period in the prior year, the business posted $0.32 EPS. Research analysts forecast that First Horizon will post 1.67 EPS for the current year.

Insider Transactions at First Horizon

In related news, CEO D Bryan Jordan sold 109,980 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $21.13, for a total transaction of $2,323,877.40. Following the completion of the transaction, the chief executive officer now directly owns 1,861,381 shares of the company’s stock, valued at approximately $39,330,980.53. This represents a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.87% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its stake in First Horizon by 26.2% in the fourth quarter. Bank of New York Mellon Corp now owns 37,131,162 shares of the financial services provider’s stock valued at $747,822,000 after purchasing an additional 7,715,191 shares in the last quarter. State Street Corp grew its stake in First Horizon by 18.6% in the third quarter. State Street Corp now owns 26,236,784 shares of the financial services provider’s stock valued at $410,789,000 after purchasing an additional 4,116,486 shares in the last quarter. Millennium Management LLC grew its stake in First Horizon by 102.3% in the fourth quarter. Millennium Management LLC now owns 21,285,306 shares of the financial services provider’s stock valued at $428,686,000 after purchasing an additional 10,763,349 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of First Horizon by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 19,869,403 shares of the financial services provider’s stock worth $400,173,000 after acquiring an additional 97,429 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of First Horizon by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 9,346,924 shares of the financial services provider’s stock worth $145,194,000 after acquiring an additional 61,397 shares during the period. 80.28% of the stock is currently owned by institutional investors.

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.