First Horizon (NYSE:FHN) Price Target Raised to $25.00 at Wells Fargo & Company

First Horizon (NYSE:FHN) had its target price upped by Wells Fargo & Company from $23.00 to $25.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target points to a potential upside of 12.18% from the stock’s current price.

Several other research firms have also recently issued reports on FHN. Robert W. Baird cut shares of First Horizon from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 11th. Keefe, Bruyette & Woods boosted their price objective on First Horizon from $24.00 to $25.00 and gave the company a “market perform” rating in a research note on Friday, January 16th. DA Davidson increased their target price on shares of First Horizon from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Friday, January 16th. Weiss Ratings downgraded shares of First Horizon from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, March 17th. Finally, UBS Group reiterated a “buy” rating and issued a $29.00 price target on shares of First Horizon in a research report on Wednesday, February 4th. Nine investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.76.

First Horizon Stock Up 0.7%

FHN traded up $0.16 during trading on Monday, reaching $22.29. The stock had a trading volume of 442,520 shares, compared to its average volume of 6,357,624. First Horizon has a one year low of $15.19 and a one year high of $26.56. The company has a market capitalization of $10.64 billion, a price-to-earnings ratio of 11.82, a P/E/G ratio of 0.84 and a beta of 0.61. The stock’s 50 day moving average is $23.88 and its two-hundred day moving average is $23.08. 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 released its earnings results on Thursday, January 15th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.06. First Horizon had a net margin of 19.67% and a return on equity of 11.21%. The firm had revenue of $892.00 million during the quarter, compared to analyst estimates of $863.87 million. During the same period last year, the business earned $0.43 earnings per share. As a group, analysts expect that First Horizon will post 1.67 earnings per share for the current year.

Insider Transactions at First Horizon

In other news, EVP Anthony J. Restel sold 5,719 shares of the business’s stock in a transaction that occurred 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 owned 619,132 shares of the company’s stock, valued at approximately $15,075,864.20. The trade was a 0.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.91% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On First Horizon

A number of large investors have recently bought and sold shares of the business. Thoroughbred Financial Services LLC raised its stake in shares of First Horizon by 3.4% during the 4th quarter. Thoroughbred Financial Services LLC now owns 14,055 shares of the financial services provider’s stock worth $335,000 after buying an additional 457 shares during the period. Illinois Municipal Retirement Fund increased its position in shares of First Horizon by 0.7% during the fourth quarter. Illinois Municipal Retirement Fund now owns 68,661 shares of the financial services provider’s stock worth $1,641,000 after purchasing an additional 489 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in First Horizon by 1.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 40,296 shares of the financial services provider’s stock valued at $963,000 after purchasing an additional 507 shares in the last quarter. Aaron Wealth Advisors LLC lifted its stake in shares of First Horizon by 5.4% in the fourth quarter. Aaron Wealth Advisors LLC now owns 9,905 shares of the financial services provider’s stock worth $237,000 after buying an additional 511 shares in the last quarter. Finally, Sanctuary Advisors LLC grew its stake in First Horizon by 3.5% during the 4th quarter. Sanctuary Advisors LLC now owns 15,803 shares of the financial services provider’s stock valued at $378,000 after acquiring an additional 537 shares in the last quarter. Hedge funds and other institutional investors own 80.28% of the company’s stock.

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.