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

First Horizon (NYSE:FHN) had its price objective raised by stock analysts at Citigroup from $24.00 to $25.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Citigroup’s price objective points to a potential upside of 16.04% from the company’s previous close.

A number of other research firms have also recently weighed in on FHN. Keefe, Bruyette & Woods raised their price target on shares of First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Raymond James increased their price objective on shares of First Horizon from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. UBS Group began coverage on shares of First Horizon in a research report on Tuesday, December 17th. They issued a “buy” rating and a $25.00 price objective for the company. Stephens reaffirmed an “overweight” rating and issued a $24.00 price objective on shares of First Horizon in a research report on Friday, January 17th. Finally, Barclays increased their price objective on shares of First Horizon from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.23.

First Horizon Stock Up 2.5 %

NYSE:FHN opened at $21.55 on Friday. First Horizon has a fifty-two week low of $13.72 and a fifty-two week high of $22.44. The stock has a market capitalization of $11.42 billion, a P/E ratio of 15.84, a P/E/G ratio of 1.19 and a beta of 0.92. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96. The company’s 50-day simple moving average is $21.17 and its 200-day simple moving average is $18.88.

First Horizon (NYSE:FHN) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the company posted $0.32 EPS. On average, equities analysts anticipate that First Horizon will post 1.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO D Bryan Jordan sold 109,980 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $21.13, for a total transaction of $2,323,877.40. Following the sale, the chief executive officer now owns 1,861,381 shares of the company’s stock, valued at $39,330,980.53. This trade represents a 5.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.87% of the stock is currently owned by insiders.

Institutional Investors Weigh In On First Horizon

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of First Horizon during the 4th quarter worth approximately $6,858,000. Carolinas Wealth Consulting LLC grew its stake in First Horizon by 359.5% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 17,998 shares of the financial services provider’s stock valued at $363,000 after acquiring an additional 14,081 shares during the period. Forum Financial Management LP grew its stake in First Horizon by 26.8% in the 4th quarter. Forum Financial Management LP now owns 14,958 shares of the financial services provider’s stock valued at $301,000 after acquiring an additional 3,159 shares during the period. GTS Securities LLC grew its stake in First Horizon by 132.4% in the 4th quarter. GTS Securities LLC now owns 33,834 shares of the financial services provider’s stock valued at $681,000 after acquiring an additional 19,278 shares during the period. Finally, Vise Technologies Inc. acquired a new stake in First Horizon in the 4th quarter valued at $275,000. Institutional investors and hedge funds 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.