First Horizon (NYSE:FHN) Price Target Raised to $28.50 at JPMorgan Chase & Co.

First Horizon (NYSE:FHN) had its price target lifted by JPMorgan Chase & Co. from $26.00 to $28.50 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 10.31% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Wells Fargo & Company raised their target price on First Horizon from $23.00 to $25.00 and gave the company an “equal weight” rating in a research report on Monday, March 30th. DA Davidson restated a “neutral” rating and set a $26.00 price target on shares of First Horizon in a research report on Thursday, April 16th. UBS Group downgraded shares of First Horizon from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $29.00 to $25.00 in a report on Tuesday, April 7th. Fundamental Research set a $28.50 price objective on shares of First Horizon in a research report on Wednesday. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $28.00 target price on shares of First Horizon in a research note on Wednesday. Nine analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $26.73.

First Horizon Stock Performance

Shares of NYSE FHN traded up $0.20 during midday trading on Wednesday, reaching $25.84. The company’s stock had a trading volume of 301,947 shares, compared to its average volume of 5,378,270. First Horizon has a 12-month low of $19.80 and a 12-month high of $26.56. The firm has a 50 day moving average price of $24.50 and a 200-day moving average price of $24.14. The stock has a market capitalization of $12.26 billion, a P/E ratio of 12.92, a PEG ratio of 1.00 and a beta of 0.60. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.96 and a quick ratio of 0.96.

First Horizon (NYSE:FHN) last released its earnings results on Wednesday, April 15th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.04. The company had revenue of $865.00 million during the quarter, compared to analyst estimates 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 period in the prior year, the company posted $0.42 earnings per share. As a group, equities analysts predict that First Horizon will post 2.15 earnings per share for the current year.

Institutional Investors Weigh In On First Horizon

Hedge funds and other institutional investors have recently bought and sold shares of the business. Kestra Investment Management LLC grew its position in shares of First Horizon by 873.1% in the second quarter. Kestra Investment Management LLC now owns 1,625 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 1,458 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in First Horizon by 156.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,794 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 1,095 shares during the period. Basecamp Wealth Advisors LLC boosted its stake in First Horizon by 56.2% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 2,073 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 746 shares during the period. Cary Street Partners Investment Advisory LLC grew its holdings in First Horizon by 1,348.2% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 2,013 shares of the financial services provider’s stock valued at $48,000 after buying an additional 1,874 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in shares of First Horizon during the fourth quarter valued at about $51,000. 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.