First Horizon (NYSE:FHN) Raised to Hold at Wall Street Zen

First Horizon (NYSE:FHN) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Sunday.

A number of other brokerages have also recently issued reports on FHN. Wells Fargo & Company boosted their target price on shares of First Horizon from $23.00 to $25.00 and gave the company an “equal weight” rating in a research report on Monday, March 30th. JPMorgan Chase & Co. lowered their price target on shares of First Horizon from $28.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 1st. Zacks Research lowered shares of First Horizon from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 20th. DA Davidson reaffirmed a “neutral” rating and set a $26.00 price target on shares of First Horizon in a research report on Thursday, April 16th. Finally, Keefe, Bruyette & Woods raised their price target on shares of First Horizon from $25.00 to $26.00 and gave the stock a “market perform” rating in a research report on Thursday, April 16th. Nine analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, First Horizon has an average rating of “Hold” and a consensus target price of $26.45.

First Horizon Trading Down 0.7%

FHN stock opened at $23.55 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.96 and a quick ratio of 0.96. The company has a fifty day moving average price of $23.46 and a two-hundred day moving average price of $23.50. First Horizon has a one year low of $19.03 and a one year high of $26.56. The stock has a market cap of $11.18 billion, a price-to-earnings ratio of 11.77, a price-to-earnings-growth ratio of 0.92 and a beta of 0.62.

First Horizon (NYSE:FHN) last released its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. First Horizon had a net margin of 20.54% and a return on equity of 11.65%. The firm had revenue of $865.00 million during the quarter, compared to analysts’ expectations of $869.49 million. During the same period in the previous year, the business posted $0.42 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. Equities analysts anticipate that First Horizon will post 2.16 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Atlantic Union Bankshares Corp acquired a new position in First Horizon in the third quarter valued at about $25,000. Root Financial Partners LLC acquired a new position in First Horizon in the third quarter valued at about $31,000. Kestra Investment Management LLC raised its stake in First Horizon by 873.1% in the second quarter. Kestra Investment Management LLC now owns 1,625 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 1,458 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in First Horizon by 156.7% in the first 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 in the last quarter. Finally, TD Waterhouse Canada Inc. lifted its stake in First Horizon by 122.3% during the third quarter. TD Waterhouse Canada Inc. now owns 1,636 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 900 shares during the last quarter. Institutional investors and hedge funds 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.