First Horizon (NYSE:FHN) Stock Price Target Raised at Wells Fargo & Company

First Horizon (NYSE:FHN) had its target price lifted by equities research analysts at Wells Fargo & Company from $25.00 to $26.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 10.89% from the stock’s current price.

FHN has been the subject of a number of other reports. UBS Group reissued a “buy” rating on shares of First Horizon in a report on Thursday, July 16th. JPMorgan Chase & Co. reduced their price target on First Horizon from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, October 16th. National Bank Financial set a $30.00 price target on First Horizon in a research note on Tuesday, September 8th. Wall Street Zen cut First Horizon from a “hold” rating to a “sell” rating in a research note on Sunday, October 11th. Finally, Citigroup lowered their price target on First Horizon from $28.50 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, September 22nd. Eight investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, First Horizon currently has a consensus rating of “Hold” and an average price target of $27.12.

First Horizon Price Performance

NYSE FHN opened at $23.45 on Monday. First Horizon has a 52 week low of $20.40 and a 52 week high of $26.56. The company has a current ratio of 0.97, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16. The stock has a market cap of $11.11 billion, a price-to-earnings ratio of 16.89, a price-to-earnings-growth ratio of 0.96 and a beta of 0.62. The company has a 50-day moving average price of $23.59 and a two-hundred day moving average price of $24.27.

First Horizon (NYSE:FHN) last released its quarterly earnings results on Thursday, October 15th. The financial services provider reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. The company had revenue of $883.00 million for the quarter, compared to analysts’ expectations of $889.18 million. First Horizon had a return on equity of 12.24% and a net margin of 14.35%. During the same quarter in the previous year, the company posted $0.51 earnings per share. Analysts forecast that First Horizon will post 2.14 EPS for the current year.

Insider Buying and Selling at First Horizon

In other news, EVP Elizabeth Ardoin sold 18,313 shares of First Horizon stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $24.85, for a total value of $455,078.05. Following the transaction, the executive vice president owned 340,368 shares of the company’s stock, valued at $8,458,144.80. The trade was a 5.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.91% of the company’s stock.

Institutional Trading of First Horizon

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. William Blair Investment Management LLC grew its position in First Horizon by 16.0% in the third quarter. William Blair Investment Management LLC now owns 5,576,059 shares of the financial services provider’s stock worth $128,361,000 after buying an additional 767,836 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of First Horizon by 7.1% in the third quarter. Fisher Asset Management LLC now owns 1,416,567 shares of the financial services provider’s stock valued at $32,609,000 after buying an additional 93,562 shares in the last quarter. Maryland State Retirement & Pension System increased its holdings in shares of First Horizon by 19.9% in the third quarter. Maryland State Retirement & Pension System now owns 29,851 shares of the financial services provider’s stock valued at $687,000 after buying an additional 4,949 shares in the last quarter. Cherokee Insurance Co increased its holdings in shares of First Horizon by 2.9% in the third quarter. Cherokee Insurance Co now owns 175,000 shares of the financial services provider’s stock valued at $4,028,000 after buying an additional 5,000 shares in the last quarter. Finally, Jefferies Financial Group Inc. lifted its position in shares of First Horizon by 72.4% during the 3rd quarter. Jefferies Financial Group Inc. now owns 40,000 shares of the financial services provider’s stock valued at $921,000 after acquiring an additional 16,804 shares during the last quarter. 80.28% of the stock is owned by institutional investors and hedge funds.

About First Horizon

First Horizon Corporation is a regional financial services company headquartered in Memphis, Tennessee, and the parent of First Horizon Bank. Its banking roots date to 1864, when the First National Bank of Memphis was established.

Through its banking operations, First Horizon serves consumers, businesses and institutions across the southeastern United States and Texas. Its services include consumer and commercial banking, lending, treasury and payment solutions, and wealth management.

The company also provides specialized financial services, including capital markets and fixed-income services, as well as mortgage banking.