First Horizon (NYSE:FHN) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

First Horizon (NYSE:FHN) had its price target increased by stock analysts at Wells Fargo & Company from $25.00 to $26.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 1.23% from the stock’s previous close.

FHN has been the topic of a number of other reports. Wall Street Zen lowered First Horizon from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Zacks Research downgraded First Horizon from a “strong-buy” rating to a “hold” rating in a report on Friday, March 20th. Weiss Ratings raised shares of First Horizon from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 8th. Barclays reduced their price objective on shares of First Horizon from $30.00 to $29.00 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of First Horizon from $25.00 to $26.00 and gave the company a “market perform” rating in a report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, First Horizon currently has an average rating of “Moderate Buy” and an average price target of $26.77.

First Horizon Stock Up 0.0%

Shares of FHN stock opened at $25.68 on Monday. First Horizon has a 52-week low of $19.80 and a 52-week high of $26.56. The stock has a market cap of $12.19 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 1.00 and a beta of 0.60. The firm’s 50-day moving average is $24.57 and its 200-day moving average is $24.18. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.96 and a current ratio of 0.96.

First Horizon (NYSE:FHN) last posted its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. The business had revenue of $865.00 million during the quarter, compared to analysts’ expectations of $869.49 million. First Horizon had a return on equity of 11.65% and a net margin of 20.54%.First Horizon’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the company posted $0.42 earnings per share. Sell-side analysts predict that First Horizon will post 2.16 EPS for the current year.

Institutional Investors Weigh In On First Horizon

A number of institutional investors have recently modified their holdings of FHN. North Reef Capital Management LP raised its stake in First Horizon by 25.5% in the 1st quarter. North Reef Capital Management LP now owns 14,453,208 shares of the financial services provider’s stock worth $328,955,000 after purchasing an additional 2,936,368 shares in the last quarter. Invesco Ltd. grew its position in shares of First Horizon by 5.6% during the 4th quarter. Invesco Ltd. now owns 8,033,759 shares of the financial services provider’s stock worth $192,007,000 after purchasing an additional 426,951 shares in the last quarter. Norges Bank acquired a new position in shares of First Horizon during the 4th quarter worth approximately $153,942,000. William Blair Investment Management LLC increased its holdings in shares of First Horizon by 2.2% during the fourth quarter. William Blair Investment Management LLC now owns 5,336,021 shares of the financial services provider’s stock worth $127,531,000 after purchasing an additional 116,191 shares during the period. Finally, Morgan Stanley raised its position in shares of First Horizon by 10.4% in the fourth quarter. Morgan Stanley now owns 5,212,543 shares of the financial services provider’s stock valued at $124,580,000 after buying an additional 491,464 shares in the last quarter. Institutional investors own 80.28% of the company’s stock.

First Horizon Company Profile

First Horizon Corporation, headquartered in Memphis, Tennessee, is a diversified financial services company providing an array of retail, commercial and wealth management solutions. As the largest bank-based financial services firm in Tennessee, First Horizon operates through a network of branches and digital platforms across the Southeastern United States, offering personal and business banking, mortgage origination and servicing, payment solutions and treasury management services.

Tracing its origins to the First National Bank of Memphis established in 1864, First Horizon has grown through strategic acquisitions and organic expansion to serve customers in Tennessee, Texas, North Carolina, South Carolina, Georgia and Florida.