First Horizon (NYSE:FHN) Price Target Raised to $26.00

First Horizon (NYSE:FHN) had its price objective increased by Keefe, Bruyette & Woods from $25.00 to $26.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has a market perform rating on the financial services provider’s stock.

A number of other research firms have also recently commented on FHN. UBS Group cut First Horizon from a “buy” rating to a “neutral” rating and cut their target price for the company from $29.00 to $25.00 in a research note on Tuesday, April 7th. Raymond James Financial raised their price target on First Horizon from $23.00 to $27.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 7th. DA Davidson boosted their price objective on First Horizon from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, January 16th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $28.00 price objective on shares of First Horizon in a research report on Monday, January 12th. Finally, Wells Fargo & Company increased their target price on First Horizon from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Monday, March 30th. Nine analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $26.45.

First Horizon Price Performance

FHN stock opened at $24.28 on Thursday. The stock has a market cap of $11.60 billion, a PE ratio of 12.14, a P/E/G ratio of 0.94 and a beta of 0.62. First Horizon has a 12 month low of $16.44 and a 12 month high of $26.56. The company has a 50-day moving average price of $23.54 and a 200 day moving average price of $23.17. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15.

First Horizon (NYSE:FHN) last posted its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. The company had revenue of $865.00 million for the quarter, compared to analyst estimates of $869.49 million. First Horizon had a net margin of 20.54% and a return on equity of 11.65%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.42 EPS. Equities research analysts anticipate that First Horizon will post 1.67 earnings per share for the current year.

First Horizon Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Friday, March 13th were issued a $0.17 dividend. The ex-dividend date was Friday, March 13th. This is a positive change from First Horizon’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.8%. First Horizon’s dividend payout ratio (DPR) is presently 34.00%.

Insider Transactions at First Horizon

In other First Horizon news, EVP Anthony J. Restel sold 5,719 shares of the firm’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $24.35, for a total transaction of $139,257.65. Following the transaction, the executive vice president directly owned 619,132 shares in the company, valued at $15,075,864.20. This trade represents a 0.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.91% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On First Horizon

Hedge funds and other institutional investors have recently made changes to their positions in the company. Navigoe LLC bought a new stake in shares of First Horizon in the third quarter valued at about $25,000. Atlantic Union Bankshares Corp purchased a new stake in First Horizon in the third quarter worth about $25,000. Root Financial Partners LLC bought a new position in First Horizon during the 3rd quarter worth about $31,000. Kestra Investment Management LLC grew its holdings in First Horizon by 873.1% during the 2nd quarter. Kestra Investment Management LLC now owns 1,625 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 1,458 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its position 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. Institutional investors own 80.28% of the company’s stock.

Trending Headlines about First Horizon

Here are the key news stories impacting First Horizon this week:

• Positive Sentiment: Jim Cramer highlighted FHN as “still a great bank to own” while rotating into regional banks, giving retail momentum and positive sentiment to the stock. Jim Cramer on First Horizon
• Positive Sentiment: Keefe, Bruyette & Woods raised its price target to $26 and kept a Market Perform rating, which supports near-term upside expectations and helped buying interest. KBW Issues Positive Forecast for First Horizon
• Positive Sentiment: Q1 results beat estimates: EPS $0.53 vs. $0.49 consensus, driven by higher net interest income and fee income; analysts note solid profitability and resilient credit metrics (loan growth, low CRE exposure) that support valuation. First Horizon Q1 Review
• Neutral Sentiment: Brokerage consensus remains around a “Hold”/neutral stance (average rating: Hold), so while some shops lifted targets, broad analyst sentiment is not strongly bullish. Average Rating of Hold by Brokerages
• Neutral Sentiment: DA Davidson reaffirmed a neutral rating and a $26 price target, echoing cautious optimism but not an upgrade to buy. DA Davidson Reaffirms Neutral
• Neutral Sentiment: Corporate staffing update: First Horizon Bank announced hires and a promotion in the Acadiana market — operationally positive but unlikely to move the stock materially. First Horizon Bank Announces New Hires
• Negative Sentiment: Some reports flagged rising expenses and slightly weaker capital ratios despite the revenue beat, which could cap multiple expansion until follow-through on cost control and capital metrics. Zacks: Q1 Earnings Beat but Rising Expenses

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.