First Horizon (NYSE:FHN) Given New $18.00 Price Target at Evercore ISI

by · The Cerbat Gem

First Horizon (NYSE:FHN – Get Free Report) had its target price decreased by stock analysts at Evercore ISI from $18.50 to $18.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Evercore ISI’s price target points to a potential upside of 18.58% from the company’s current price.

A number of other research analysts have also recently commented on the stock. Royal Bank of Canada upped their price target on shares of First Horizon from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Barclays raised their target price on shares of First Horizon from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Monday, June 24th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $18.00 price target on shares of First Horizon in a report on Wednesday, July 17th. Robert W. Baird restated a “neutral” rating and set a $16.00 price objective on shares of First Horizon in a report on Tuesday, August 6th. Finally, Raymond James cut First Horizon from a “strong-buy” rating to an “outperform” rating and set a $18.00 target price for the company. in a report on Thursday, July 18th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $17.35.

View Our Latest Stock Report on First Horizon

First Horizon Stock Performance

First Horizon stock opened at $15.18 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $8.30 billion, a P/E ratio of 10.62, a price-to-earnings-growth ratio of 3.17 and a beta of 0.88. First Horizon has a 1-year low of $10.08 and a 1-year high of $17.46. The company’s 50-day moving average is $15.77 and its 200 day moving average is $15.48.

First Horizon (NYSE:FHN – Get Free Report) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $819.82 million. First Horizon had a return on equity of 8.84% and a net margin of 14.03%. During the same period in the prior year, the business posted $0.39 earnings per share. Research analysts forecast that First Horizon will post 1.46 EPS for the current year.

Institutional Trading of First Horizon

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in First Horizon by 1.1% during the first quarter. Vanguard Group Inc. now owns 57,574,002 shares of the financial services provider’s stock valued at $886,640,000 after acquiring an additional 627,730 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of First Horizon by 13.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 32,389,497 shares of the financial services provider’s stock valued at $510,782,000 after purchasing an additional 3,870,946 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of First Horizon by 28.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 15,515,494 shares of the financial services provider’s stock worth $244,647,000 after purchasing an additional 3,470,346 shares in the last quarter. Millennium Management LLC grew its stake in First Horizon by 46.5% during the 2nd quarter. Millennium Management LLC now owns 14,370,699 shares of the financial services provider’s stock worth $226,626,000 after buying an additional 4,558,129 shares during the last quarter. Finally, LSV Asset Management increased its position in First Horizon by 5.2% during the 2nd quarter. LSV Asset Management now owns 14,025,838 shares of the financial services provider’s stock valued at $221,187,000 after buying an additional 692,100 shares in the last quarter. 80.28% of the stock is currently owned by institutional investors.

First Horizon Company Profile

(Get Free Report)

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.

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