Barclays Has Lowered Expectations for First Horizon (NYSE:FHN) Stock Price

First Horizon (NYSE:FHN) had its price objective lowered by equities researchers at Barclays from $25.00 to $23.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price target would suggest a potential upside of 27.35% from the stock’s current price.

FHN has been the topic of a number of other reports. JPMorgan Chase & Co. raised their price target on First Horizon from $22.50 to $23.50 and gave the company a “neutral” rating in a research note on Friday, January 17th. Baird R W upgraded First Horizon from a “hold” rating to a “strong-buy” rating in a research note on Monday. Raymond James cut their price target on First Horizon from $23.00 to $22.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 2nd. Robert W. Baird upgraded First Horizon from a “neutral” rating to an “outperform” rating and set a $22.00 price target on the stock in a research note on Monday. Finally, Keefe, Bruyette & Woods raised their price target on First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, First Horizon has an average rating of “Moderate Buy” and a consensus target price of $22.30.

First Horizon Stock Up 9.4 %

Shares of NYSE FHN opened at $18.06 on Tuesday. The stock has a market cap of $9.29 billion, a P/E ratio of 13.28, a PEG ratio of 1.19 and a beta of 0.60. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. First Horizon has a 12-month low of $13.72 and a 12-month high of $22.44. The business’s fifty day simple moving average is $19.91 and its 200-day simple moving average is $19.44.

First Horizon (NYSE:FHN) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.05. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. During the same period in the previous year, the company earned $0.32 EPS. As a group, equities analysts predict that First Horizon will post 1.67 EPS for the current fiscal year.

Insider Buying and Selling

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of First Horizon stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $21.13, for a total value of $2,323,877.40. Following the sale, the chief executive officer now owns 1,861,381 shares of the company’s stock, valued at approximately $39,330,980.53. The trade was a 5.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On First Horizon

A number of institutional investors have recently added to or reduced their stakes in FHN. Quantinno Capital Management LP boosted its holdings in First Horizon by 8.4% in the 3rd quarter. Quantinno Capital Management LP now owns 27,760 shares of the financial services provider’s stock valued at $431,000 after purchasing an additional 2,145 shares in the last quarter. Stifel Financial Corp boosted its holdings in First Horizon by 14.8% in the 3rd quarter. Stifel Financial Corp now owns 85,461 shares of the financial services provider’s stock valued at $1,327,000 after purchasing an additional 10,988 shares in the last quarter. State Street Corp boosted its holdings in First Horizon by 18.6% in the 3rd quarter. State Street Corp now owns 26,236,784 shares of the financial services provider’s stock valued at $410,789,000 after purchasing an additional 4,116,486 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in First Horizon in the 3rd quarter valued at approximately $182,000. Finally, Orion Portfolio Solutions LLC boosted its holdings in First Horizon by 15.7% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 42,443 shares of the financial services provider’s stock valued at $659,000 after purchasing an additional 5,763 shares in the last quarter. 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.