First Horizon (NYSE:FHN) Downgraded to “Sell” Rating by Wall Street Zen

First Horizon (NYSE:FHN) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

Several other equities analysts also recently commented on the company. Autonomous Res downgraded First Horizon from a “strong-buy” rating to a “strong sell” rating in a research note on Wednesday, April 29th. Zacks Research downgraded First Horizon from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 20th. JPMorgan Chase & Co. lowered their target price on First Horizon from $28.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 1st. Weiss Ratings raised First Horizon from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 8th. Finally, DA Davidson reiterated a “neutral” rating and set a $26.00 price target on shares of First Horizon in a research note on Thursday, April 16th. Nine research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.45.

First Horizon Stock Down 0.1%

FHN opened at $25.54 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.15. The stock has a market cap of $12.12 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 1.00 and a beta of 0.60. First Horizon has a twelve month low of $19.80 and a twelve month high of $26.56. The company’s 50-day moving average price is $24.44 and its two-hundred day moving average price is $24.09.

First Horizon (NYSE:FHN) last released its earnings results on Wednesday, April 15th. The financial services provider reported $0.53 earnings per share for the quarter, beating 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 the consensus estimate of $869.49 million. During the same period in the prior year, the firm earned $0.42 EPS. The company’s revenue was up 6.2% compared to the same quarter last year. As a group, equities analysts expect that First Horizon will post 2.15 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FHN. Kestra Investment Management LLC lifted its position in shares of First Horizon by 873.1% during the second quarter. Kestra Investment Management LLC now owns 1,625 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 1,458 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of First Horizon by 156.7% during the 1st 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 during the period. Cary Street Partners Investment Advisory LLC raised its stake in shares of First Horizon by 1,348.2% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 2,013 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 1,874 shares during the period. Basecamp Wealth Advisors LLC lifted its holdings in First Horizon by 56.2% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 2,073 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 746 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in First Horizon during the 4th quarter worth about $51,000. 80.28% of the stock is currently owned by hedge funds and other institutional investors.

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.