First Horizon (NYSE:FHN) Upgraded by StockNews.com to “Hold” Rating

First Horizon (NYSE:FHN) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

Several other equities research analysts have also recently issued reports on the stock. Royal Bank of Canada lifted their price objective on shares of First Horizon from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. JPMorgan Chase & Co. lifted their price target on shares of First Horizon from $22.50 to $23.50 and gave the company a “neutral” rating in a report on Friday, January 17th. Stephens reiterated an “overweight” rating and issued a $24.00 price target on shares of First Horizon in a research note on Friday, January 17th. Wells Fargo & Company raised their price objective on First Horizon from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. Finally, UBS Group began coverage on First Horizon in a research report on Tuesday, December 17th. They issued a “buy” rating and a $25.00 target price on the stock. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.57.

First Horizon Trading Up 1.9 %

Shares of First Horizon stock opened at $16.51 on Tuesday. First Horizon has a fifty-two week low of $13.72 and a fifty-two week high of $22.44. 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 has a market capitalization of $8.49 billion, a P/E ratio of 12.14, a P/E/G ratio of 1.19 and a beta of 0.60. The company has a fifty day moving average of $20.27 and a 200 day moving average of $19.45.

First Horizon (NYSE:FHN) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.05. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. During the same period last year, the business earned $0.32 earnings per share. On average, sell-side analysts anticipate that First Horizon will post 1.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 1,861,381 shares in the company, valued at $39,330,980.53. The trade was a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.87% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On First Horizon

Large investors have recently made changes to their positions in the company. Belpointe Asset Management LLC raised its position in First Horizon by 3.1% in the 4th quarter. Belpointe Asset Management LLC now owns 17,631 shares of the financial services provider’s stock worth $355,000 after purchasing an additional 535 shares during the period. Steward Partners Investment Advisory LLC grew its stake in shares of First Horizon by 3.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 15,731 shares of the financial services provider’s stock valued at $317,000 after buying an additional 571 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of First Horizon by 29.9% during the 4th quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 591 shares during the last quarter. Independent Advisor Alliance boosted its holdings in First Horizon by 1.1% during the 4th quarter. Independent Advisor Alliance now owns 57,730 shares of the financial services provider’s stock valued at $1,163,000 after acquiring an additional 632 shares during the period. Finally, Access Investment Management LLC grew its position in First Horizon by 0.8% in the 4th quarter. Access Investment Management LLC now owns 88,490 shares of the financial services provider’s stock valued at $1,782,000 after acquiring an additional 675 shares during the last quarter. 80.28% of the stock is owned by hedge funds and other institutional investors.

About First Horizon

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.