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

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

Other research analysts have also recently issued reports about the stock. Raymond James increased their price target on shares of First Horizon from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. raised their target price on First Horizon from $22.50 to $23.50 and gave the company a “neutral” rating in a research report on Friday, January 17th. The Goldman Sachs Group lifted their price objective on First Horizon from $18.50 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. 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, Keefe, Bruyette & Woods lifted their price objective on First Horizon from $23.00 to $24.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.23.

First Horizon Trading Up 1.7 %

FHN stock traded up $0.36 during mid-day trading on Friday, reaching $21.38. 3,481,254 shares of the stock traded hands, compared to its average volume of 5,536,167. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96. First Horizon has a one year low of $13.72 and a one year high of $22.44. The stock has a market capitalization of $11.33 billion, a PE ratio of 15.72, a PEG ratio of 1.19 and a beta of 0.92. The business has a 50-day moving average price of $21.13 and a two-hundred day moving average price of $18.81.

First Horizon (NYSE:FHN) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.05. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. During the same period in the previous year, the firm earned $0.32 EPS. Equities research analysts expect that First Horizon will post 1.67 EPS for the current year.

Insider Buying and Selling

In related news, CEO D Bryan Jordan sold 109,980 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $21.13, for a total transaction of $2,323,877.40. Following the completion of the sale, the chief executive officer now 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On First Horizon

A number of institutional investors and hedge funds have recently bought and sold shares of FHN. Versant Capital Management Inc boosted its stake in shares of First Horizon by 160.1% during the 4th quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider’s stock valued at $29,000 after buying an additional 884 shares during the last quarter. Jones Financial Companies Lllp bought a new position in First Horizon during the fourth quarter worth $30,000. Kentucky Trust Co bought a new position in First Horizon during the fourth quarter worth $32,000. Covestor Ltd lifted its stake in First Horizon by 44.0% during the third quarter. Covestor Ltd now owns 2,130 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 651 shares during the last quarter. Finally, True Wealth Design LLC bought a new position in First Horizon during the third quarter worth $36,000. Hedge funds and other 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.