First Horizon (NYSE:FHN) Stock Price Expected to Rise, TD Cowen Analyst Says

First Horizon (NYSE:FHN) had its price objective upped by stock analysts at TD Cowen from $24.00 to $26.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the financial services provider’s stock. TD Cowen’s price target indicates a potential upside of 5.09% from the company’s previous close.

A number of other equities analysts have also recently weighed in on the company. Citigroup upped their price target on First Horizon from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Tuesday, December 30th. Barclays upped their target price on First Horizon from $26.00 to $28.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 11th. DA Davidson raised shares of First Horizon from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 19th. The Goldman Sachs Group set a $27.00 price target on shares of First Horizon and gave the stock a “neutral” rating in a report on Tuesday. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $25.00 price objective on shares of First Horizon in a report on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, First Horizon presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.89.

First Horizon Stock Performance

FHN opened at $24.74 on Wednesday. The firm has a fifty day moving average price of $22.88 and a 200 day moving average price of $22.30. First Horizon has a 1 year low of $15.19 and a 1 year high of $24.89. The stock has a market cap of $12.18 billion, a P/E ratio of 14.99, a P/E/G ratio of 0.88 and a beta of 0.61. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.96 and a quick ratio of 0.95.

First Horizon (NYSE:FHN) last released its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.45 by $0.06. First Horizon had a net margin of 18.08% and a return on equity of 10.93%. The company had revenue of $893.00 million for the quarter, compared to analyst estimates of $848.08 million. During the same quarter last year, the business earned $0.42 earnings per share. The firm’s revenue was up 7.4% on a year-over-year basis. Equities research analysts anticipate that First Horizon will post 1.67 earnings per share for the current year.

First Horizon declared that its board has authorized a share repurchase program on Monday, October 27th that allows the company to buyback $1.20 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 11.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Activity

In other First Horizon news, CAO Jeff L. Fleming sold 7,619 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $21.74, for a total value of $165,637.06. Following the completion of the sale, the chief accounting officer owned 128,626 shares in the company, valued at approximately $2,796,329.24. This represents a 5.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David T. Popwell sold 155,149 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $21.31, for a total value of $3,306,225.19. Following the transaction, the executive vice president owned 307,432 shares in the company, valued at approximately $6,551,375.92. This represents a 33.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.87% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On First Horizon

Hedge funds have recently modified their holdings of the company. Voya Investment Management LLC increased its holdings in First Horizon by 301.4% in the third quarter. Voya Investment Management LLC now owns 229,860 shares of the financial services provider’s stock valued at $5,197,000 after buying an additional 172,599 shares during the last quarter. Apollon Wealth Management LLC lifted its holdings in First Horizon by 70.9% during the 3rd quarter. Apollon Wealth Management LLC now owns 97,889 shares of the financial services provider’s stock worth $2,213,000 after buying an additional 40,604 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of First Horizon by 150.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 97,115 shares of the financial services provider’s stock worth $2,059,000 after acquiring an additional 58,273 shares in the last quarter. Invesco Ltd. increased its holdings in shares of First Horizon by 3.8% in the 2nd quarter. Invesco Ltd. now owns 7,010,939 shares of the financial services provider’s stock valued at $148,632,000 after acquiring an additional 255,429 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its stake in First Horizon by 241.2% during the third quarter. Pacer Advisors Inc. now owns 67,640 shares of the financial services provider’s stock worth $1,529,000 after purchasing an additional 47,816 shares during the last quarter. Hedge funds and other institutional investors own 80.28% of the company’s stock.

Key First Horizon News

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

• Positive Sentiment: Zacks says FHN has a strong history of earnings surprises and currently has the setup (consensus estimates + trend) consistent with another beat on the next report — a driver for near-term upside if results again top estimates. Will First Horizon (FHN) Beat Estimates Again in Its Next Earnings Report?
• Positive Sentiment: Zacks previewing next week’s report highlights Wall Street’s expectations for earnings growth and reiterates the same two factors that make an upside surprise likely — this raises the probability investors who trade earnings will buy into FHN ahead of results. First Horizon National (FHN) Reports Next Week: Wall Street Expects Earnings Growth
• Positive Sentiment: TD Cowen raised its price target from $24 to $26 and maintained a “hold” rating — the lift signals modest analyst optimism and gives the stock visible upside from current levels, which can attract momentum buyers. Benzinga coverage of TD Cowen price target raise TickerReport coverage
• Positive Sentiment: First Horizon announced regional leadership promotions in Louisiana, Texas and Georgia — management depth and local focus can support commercial lending growth in key markets and is a positive operational signal for regional franchise strength. First Horizon Announces New Leadership in Louisiana, Texas and Georgia
• Neutral Sentiment: Zacks published a valuation comparison between FHN and Cullen/Frost (CFR), weighing metrics for value investors — useful context for relative positioning but not an immediate catalyst unless large flows rotate between the two names. FHN vs. CFR: Which Stock Is the Better Value Option?
• Neutral Sentiment: Another Zacks piece comparing FHN and CFR on current value and outlook reaches similar conclusions for value investors — informative for positioning but unlikely to move the stock on its own. FHN or CFR: Which Is the Better Value Stock Right Now?
• Neutral Sentiment: AmericanBankingNews published a head-to-head contrast of Texas Capital Bancshares (TCBI) and First Horizon — helpful for comparative analysis but not a direct catalyst unless it triggers re-rating by sector-focused funds. Texas Capital Bancshares & First Horizon Head-To-Head Contrast

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.