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

First Horizon (NYSE:FHN) had its price target hoisted by equities research analysts at Robert W. Baird from $15.00 to $16.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Robert W. Baird’s price target indicates a potential upside of 11.81% from the company’s current price.

Several other research firms also recently issued reports on FHN. Royal Bank of Canada upgraded First Horizon from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $16.00 to $18.00 in a research note on Tuesday, April 9th. Wedbush restated an “outperform” rating and issued a $17.00 price target on shares of First Horizon in a research note on Wednesday, April 10th. UBS Group upgraded First Horizon from a “neutral” rating to a “buy” rating and boosted their price target for the company from $15.50 to $16.00 in a research note on Wednesday, January 24th. Evercore ISI upped their target price on First Horizon from $17.00 to $17.50 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Finally, Barclays assumed coverage on First Horizon in a research report on Friday, March 8th. They set an “overweight” rating and a $18.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, First Horizon presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.15.

First Horizon Stock Up 1.0 %

Shares of NYSE:FHN traded up $0.14 during trading on Thursday, hitting $14.31. 1,555,677 shares of the company were exchanged, compared to its average volume of 7,123,003. The stock has a market cap of $7.94 billion, a price-to-earnings ratio of 9.34, a P/E/G ratio of 3.95 and a beta of 0.94. First Horizon has a fifty-two week low of $8.99 and a fifty-two week high of $18.99. The firm has a fifty day moving average price of $14.52 and a two-hundred day moving average price of $13.34. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.13.

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

First Horizon announced that its Board of Directors has approved a share buyback plan on Tuesday, January 23rd that allows the company to buyback $650.00 million in shares. This buyback authorization allows the financial services provider to repurchase up to 7.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Institutional Trading of First Horizon

Institutional investors and hedge funds have recently modified their holdings of the business. Macroview Investment Management LLC purchased a new stake in First Horizon in the third quarter worth $25,000. Rise Advisors LLC purchased a new stake in First Horizon in the first quarter worth $25,000. Raleigh Capital Management Inc. purchased a new stake in First Horizon in the fourth quarter worth $28,000. Fortitude Family Office LLC increased its position in First Horizon by 129.3% in the first quarter. Fortitude Family Office LLC now owns 1,954 shares of the financial services provider’s stock worth $30,000 after buying an additional 1,102 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in First Horizon in the second quarter worth $31,000. 80.28% of the stock is owned by hedge funds and other institutional investors.

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.