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

Wall Street Zen upgraded shares of First Horizon (NYSE:FHN) from a sell rating to a hold rating in a report released on Saturday morning.

Several other equities analysts have also recently weighed in on the stock. Citigroup raised their price target on shares of First Horizon from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Wells Fargo & Company dropped their price target on shares of First Horizon from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 9th. Truist Financial started coverage on shares of First Horizon in a research report on Tuesday, May 13th. They issued a “hold” rating and a $21.00 price target on the stock. Bank of America raised their price target on shares of First Horizon from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Finally, Baird R W raised shares of First Horizon from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 7th. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.53.

First Horizon Price Performance

FHN stock opened at $19.08 on Friday. The stock has a market capitalization of $9.68 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 1.19 and a beta of 0.61. The company’s 50-day moving average is $18.91 and its 200-day moving average is $19.85. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95. First Horizon has a 1 year low of $14.11 and a 1 year high of $22.44.

First Horizon (NYSE:FHN) last released its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. The company had revenue of $823.69 million for the quarter, compared to analysts’ expectations of $825.11 million. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. During the same quarter in the prior year, the firm earned $0.35 EPS. Equities research analysts expect that First Horizon will post 1.67 EPS for the current fiscal year.

First Horizon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.60 annualized dividend and a dividend yield of 3.14%. First Horizon’s payout ratio is currently 41.67%.

Institutional Investors Weigh In On First Horizon

Large investors have recently modified their holdings of the stock. Jones Financial Companies Lllp purchased a new stake in shares of First Horizon during the 4th quarter worth approximately $30,000. Byrne Asset Management LLC grew its stake in First Horizon by 115.3% in the 1st quarter. Byrne Asset Management LLC now owns 1,550 shares of the financial services provider’s stock valued at $30,000 after buying an additional 830 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in First Horizon by 156.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,794 shares of the financial services provider’s stock valued at $35,000 after buying an additional 1,095 shares in the last quarter. Compass Financial Services Inc purchased a new position in First Horizon in the 1st quarter valued at approximately $38,000. Finally, Quarry LP grew its stake in First Horizon by 129.2% in the 1st quarter. Quarry LP now owns 2,205 shares of the financial services provider’s stock valued at $43,000 after buying an additional 1,243 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 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.