First Horizon (NYSE:FHN) Price Target Increased to $17.50 by Analysts at Evercore ISI

First Horizon (NYSE:FHN) had its price target hoisted by equities researchers at Evercore ISI from $17.00 to $17.50 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Evercore ISI’s target price points to a potential upside of 13.49% from the stock’s current price.

A number of other research analysts have also weighed in on the stock. Raymond James raised shares of First Horizon from an “outperform” rating to a “strong-buy” rating and raised their price target for the company from $13.00 to $17.00 in a research report on Friday, January 5th. Royal Bank of Canada reissued a “sector perform” rating and set a $16.00 target price on shares of First Horizon in a research report on Friday, January 19th. Barclays initiated coverage on First Horizon in a report on Friday, March 8th. They issued an “overweight” rating and a $18.00 target price for the company. Wells Fargo & Company lifted their price target on First Horizon from $11.50 to $14.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 6th. Finally, Citigroup started coverage on First Horizon in a research report on Friday, December 1st. They issued a “buy” rating and a $14.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $14.92.

First Horizon Stock Up 0.7 %

FHN traded up $0.10 during midday trading on Thursday, reaching $15.42. 929,040 shares of the company were exchanged, compared to its average volume of 7,478,553. The company has a market cap of $8.56 billion, a price-to-earnings ratio of 10.07, a price-to-earnings-growth ratio of 4.28 and a beta of 0.93. First Horizon has a one year low of $8.99 and a one year high of $18.99. The company’s fifty day moving average price is $14.40 and its 200 day moving average price is $12.98. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.94 and a current ratio of 0.95.

First Horizon (NYSE:FHN) last released its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. First Horizon had a return on equity of 9.94% and a net margin of 17.80%. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $784.20 million. During the same period in the prior year, the firm posted $0.51 EPS. As a group, analysts expect that First Horizon will post 1.42 EPS for the current year.

First Horizon declared that its Board of Directors has authorized a share repurchase program on Tuesday, January 23rd that allows the company to buyback $650.00 million in shares. This buyback authorization allows the financial services provider to buy up to 7.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On First Horizon

Several large investors have recently modified their holdings of the business. Quadrature Capital Ltd bought a new position in First Horizon in the 4th quarter worth approximately $2,371,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of First Horizon during the fourth quarter worth $9,912,000. Vanguard Group Inc. boosted its holdings in shares of First Horizon by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 56,946,272 shares of the financial services provider’s stock worth $806,359,000 after acquiring an additional 171,222 shares during the period. Greenwood Capital Associates LLC raised its stake in shares of First Horizon by 26.1% during the 4th quarter. Greenwood Capital Associates LLC now owns 362,656 shares of the financial services provider’s stock valued at $5,135,000 after purchasing an additional 75,041 shares during the period. Finally, Richardson Financial Services Inc. bought a new position in First Horizon in the 4th quarter worth about $35,000. Hedge funds and other institutional investors own 80.28% of the company’s stock.

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.