Truist Financial Increases First Horizon (NYSE:FHN) Price Target to $23.00

First Horizon (NYSE:FHN) had its price objective upped by analysts at Truist Financial from $21.00 to $23.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “hold” rating on the financial services provider’s stock. Truist Financial’s price objective suggests a potential upside of 5.19% from the stock’s current price.

Several other equities research analysts also recently issued reports on the stock. Robert W. Baird raised shares of 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, April 7th. Raymond James Financial reissued an “outperform” rating and issued a $24.00 target price (up previously from $20.00) on shares of First Horizon in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods dropped their target price on shares of First Horizon from $24.00 to $22.00 and set a “market perform” rating for the company in a research report on Thursday, April 17th. Baird R W raised shares of First Horizon from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 7th. Finally, Barclays boosted their target price on shares of First Horizon from $23.00 to $26.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, First Horizon has an average rating of “Moderate Buy” and a consensus price target of $23.09.

First Horizon Stock Performance

First Horizon stock opened at $21.87 on Friday. First Horizon has a 12-month low of $14.34 and a 12-month high of $22.44. The company has a market capitalization of $11.09 billion, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 1.12 and a beta of 0.61. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.96 and a quick ratio of 0.95. The firm’s fifty day moving average price is $20.27 and its 200 day moving average price is $19.93.

First Horizon (NYSE:FHN) last released its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.02. First Horizon had a net margin of 16.13% and a return on equity of 10.33%. The firm had revenue of $823.69 million for the quarter, compared to the consensus estimate of $825.11 million. During the same quarter in the previous year, the firm posted $0.35 EPS. On average, research analysts forecast that First Horizon will post 1.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jones Financial Companies Lllp acquired a new position in First Horizon during the 4th quarter valued at about $30,000. Byrne Asset Management LLC boosted its stake in First Horizon by 115.3% during the 1st quarter. Byrne Asset Management LLC now owns 1,550 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 830 shares during the period. Geneos Wealth Management Inc. boosted its stake in First Horizon by 156.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,794 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 1,095 shares during the period. Compass Financial Services Inc acquired a new position in First Horizon during the 1st quarter valued at about $38,000. Finally, Quarry LP boosted its stake in First Horizon by 129.2% during the 1st quarter. Quarry LP now owns 2,205 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 1,243 shares during the period. 80.28% of the stock is owned by institutional investors and hedge funds.

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.