First Horizon (NYSE:FHN) Given New $27.00 Price Target at JPMorgan Chase & Co.

First Horizon (NYSE:FHN) had its price target trimmed by JPMorgan Chase & Co. from $28.50 to $27.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

Other equities analysts also recently issued reports about the company. Barclays cut their price target on First Horizon from $30.00 to $29.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 7th. Zacks Research cut shares of First Horizon from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 20th. Raymond James Financial increased their price objective on First Horizon from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Wall Street Zen lowered First Horizon from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Finally, Autonomous Res downgraded First Horizon from a “strong-buy” rating to a “strong sell” rating in a report on Wednesday, April 29th. Nine analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, First Horizon presently has a consensus rating of “Hold” and an average price target of $27.16.

First Horizon Stock Up 1.4%

Shares of FHN opened at $25.29 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.96 and a current ratio of 0.97. First Horizon has a 52 week low of $19.80 and a 52 week high of $26.56. The stock has a market capitalization of $12.01 billion, a price-to-earnings ratio of 12.10, a PEG ratio of 0.97 and a beta of 0.60. The stock has a fifty day moving average of $24.74 and a 200-day moving average of $24.26.

First Horizon (NYSE:FHN) last issued its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. First Horizon had a return on equity of 12.06% and a net margin of 21.12%.The business had revenue of $890.00 million for the quarter, compared to analyst estimates of $878.42 million. During the same quarter in the previous year, the company posted $0.45 EPS. As a group, sell-side analysts anticipate that First Horizon will post 2.16 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th were given a $0.17 dividend. The ex-dividend date was Friday, June 12th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.7%. First Horizon’s payout ratio is 34.00%.

Institutional Investors Weigh In On First Horizon

Several large investors have recently modified their holdings of FHN. Kestra Investment Management LLC raised its stake in First Horizon by 873.1% during the second quarter. Kestra Investment Management LLC now owns 1,625 shares of the financial services provider’s stock worth $34,000 after buying an additional 1,458 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in First Horizon by 156.7% during the first quarter. Geneos Wealth Management Inc. now owns 1,794 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 1,095 shares during the last quarter. Basecamp Wealth Advisors LLC grew its holdings in First Horizon by 56.2% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 2,073 shares of the financial services provider’s stock worth $47,000 after acquiring 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 worth $48,000 after acquiring an additional 1,874 shares during the period. Finally, Los Angeles Capital Management LLC bought a new position in shares of First Horizon in the 4th quarter worth about $51,000. 80.28% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about First Horizon

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

• Positive Sentiment: First Horizon reported Q2 EPS of $0.54, topping analyst expectations and rising from $0.45 a year ago, while revenue also came in ahead of estimates at $890 million. Article Title
• Positive Sentiment: The company highlighted strong loan growth, higher net interest income, and fee income, which support the view that core banking activity is improving. Article Title
• Positive Sentiment: Investor sentiment was also helped by unusually heavy call-option buying, suggesting some traders are positioning for additional upside. Article Title
• Neutral Sentiment: JPMorgan lowered its price target on FHN to $27.00 from $28.50 but kept a neutral rating, indicating limited immediate upside rather than a bearish call. Article Title
• Negative Sentiment: Some market commentary noted the stock fell after the earnings release because expenses increased and capital ratios weakened, raising concerns about margin and balance-sheet pressure. Article Title
• Negative Sentiment: Analysts also flagged funding-cost and deposit-mix concerns, including greater use of brokered funds, which could pressure net interest margin near term. Article Title

About First Horizon

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.