First Horizon (NYSE:FHN) PT Raised to $16.00 at Robert W. Baird

First Horizon (NYSE:FHN) had its price objective boosted by investment analysts at Robert W. Baird from $15.00 to $16.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Robert W. Baird’s price objective would indicate a potential upside of 11.81% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. boosted their price objective on shares of First Horizon from $16.00 to $17.50 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. StockNews.com downgraded shares of First Horizon from a “hold” rating to a “sell” rating in a research note on Wednesday, February 7th. Royal Bank of Canada upgraded shares of First Horizon from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $16.00 to $18.00 in a research note on Tuesday, April 9th. UBS Group upgraded shares of First Horizon from a “neutral” rating to a “buy” rating and upped their target price for the company from $15.50 to $16.00 in a research note on Wednesday, January 24th. Finally, Wells Fargo & Company upped their target price on shares of First Horizon from $14.00 to $16.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, First Horizon has a consensus rating of “Moderate Buy” and a consensus target price of $16.15.

First Horizon Trading Up 1.0 %

FHN stock traded up $0.14 on Thursday, hitting $14.31. 1,555,677 shares of the company were exchanged, compared to its average volume of 7,123,003. First Horizon has a twelve month low of $8.99 and a twelve month high of $18.99. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.95 and a quick ratio of 0.94. The business’s fifty day moving average is $14.52 and its two-hundred day moving average is $13.34. The stock has a market capitalization of $7.94 billion, a price-to-earnings ratio of 9.34, a price-to-earnings-growth ratio of 3.95 and a beta of 0.94.

First Horizon (NYSE:FHN) last issued its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. First Horizon had a net margin of 17.80% and a return on equity of 9.94%. The firm had revenue of $819.00 million during the quarter, compared to analyst estimates of $809.51 million. During the same quarter in the prior year, the business posted $0.46 earnings per share. First Horizon’s revenue for the quarter was down 4.7% compared to the same quarter last year. As a group, research analysts forecast that First Horizon will post 1.45 earnings per share for the current year.

First Horizon announced that its Board of Directors has authorized a stock buyback program on Tuesday, January 23rd that authorizes the company to repurchase $650.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 7.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On First Horizon

Several large investors have recently added to or reduced their stakes in the stock. Macroview Investment Management LLC acquired a new position in shares of First Horizon during the third quarter valued at $25,000. Rise Advisors LLC acquired a new position in shares of First Horizon during the first quarter valued at $25,000. Raleigh Capital Management Inc. acquired a new position in shares of First Horizon during the fourth quarter valued at $28,000. Fortitude Family Office LLC increased its holdings in shares of First Horizon by 129.3% during the first quarter. Fortitude Family Office LLC now owns 1,954 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 1,102 shares during the period. Finally, Lazard Asset Management LLC acquired a new position in First Horizon during the second quarter worth about $31,000. 80.28% of the stock is owned by institutional investors and hedge funds.

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.