First Horizon (NYSE:FHN) Price Target Raised to $25.00 at Citigroup

First Horizon (NYSE:FHN - Get Free Report) had its target price hoisted by analysts at Citigroup from $24.00 to $25.00 in a report released on Friday,Benzinga reports. The firm presently has a "buy" rating on the financial services provider's stock. Citigroup's price objective suggests a potential upside of 24.85% from the company's previous close.

Several other analysts have also recently commented on the stock. UBS Group initiated coverage on shares of First Horizon in a research note on Tuesday, December 17th. They issued a "buy" rating and a $25.00 price target on the stock. Keefe, Bruyette & Woods boosted their target price on shares of First Horizon from $23.00 to $24.00 and gave the stock a "market perform" rating in a report on Thursday, December 19th. Royal Bank of Canada boosted their target price on shares of First Horizon from $22.00 to $23.00 and gave the stock an "outperform" rating in a report on Wednesday, December 11th. Bank of America boosted their target price on shares of First Horizon from $23.00 to $25.00 and gave the stock a "buy" rating in a report on Friday, January 17th. Finally, Stephens restated an "overweight" rating and issued a $24.00 target price on shares of First Horizon in a report on Friday, January 17th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.23.

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First Horizon Stock Performance

FHN traded down $0.89 during trading on Friday, hitting $20.02. The company's stock had a trading volume of 9,043,661 shares, compared to its average volume of 5,745,401. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. The firm has a market cap of $10.62 billion, a PE ratio of 14.72, a P/E/G ratio of 1.19 and a beta of 0.92. First Horizon has a one year low of $13.72 and a one year high of $22.44. The business's 50 day simple moving average is $21.17 and its 200-day simple moving average is $18.98.

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

Insiders Place Their Bets

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the company's stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $21.13, for a total value of $2,323,877.40. Following the transaction, the chief executive officer now directly owns 1,861,381 shares in the company, valued at $39,330,980.53. This represents a 5.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.87% of the company's stock.

Institutional Investors Weigh In On First Horizon

Several hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp lifted its position in shares of First Horizon by 26.2% in the 4th quarter. Bank of New York Mellon Corp now owns 37,131,162 shares of the financial services provider's stock worth $747,822,000 after purchasing an additional 7,715,191 shares during the period. State Street Corp lifted its position in shares of 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 worth $410,789,000 after purchasing an additional 4,116,486 shares during the period. Millennium Management LLC lifted its position in shares of First Horizon by 102.3% in the 4th quarter. Millennium Management LLC now owns 21,285,306 shares of the financial services provider's stock worth $428,686,000 after purchasing an additional 10,763,349 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of First Horizon by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 19,869,403 shares of the financial services provider's stock worth $400,173,000 after purchasing an additional 97,429 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of First Horizon by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 9,346,924 shares of the financial services provider's stock worth $145,194,000 after purchasing an additional 61,397 shares during the period. Hedge funds and other institutional investors own 80.28% of the company's stock.

First Horizon Company Profile

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.