StockNews.com Upgrades First Horizon (NYSE:FHN) to Hold

First Horizon (NYSE:FHN) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Monday.

FHN has been the subject of several other reports. Keefe, Bruyette & Woods lowered their target price on First Horizon from $24.00 to $22.00 and set a “market perform” rating for the company in a report on Thursday, April 17th. Baird R W raised shares of First Horizon from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 7th. Bank of America boosted their target price on shares of First Horizon from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. Barclays reduced their target price on shares of First Horizon from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company reduced their target price on shares of First Horizon from $22.00 to $20.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 9th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.97.

First Horizon Stock Up 0.7%

NYSE:FHN opened at $20.20 on Monday. The firm has a market capitalization of $10.25 billion, a PE ratio of 14.85, a price-to-earnings-growth ratio of 1.19 and a beta of 0.59. The stock has a 50 day moving average of $18.28 and a 200-day moving average of $19.75. First Horizon has a 52 week low of $14.09 and a 52 week high of $22.44. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14.

First Horizon (NYSE:FHN) last posted its earnings results on Wednesday, April 16th. The financial services provider reported $0.42 EPS for the quarter, beating the consensus estimate of $0.40 by $0.02. The company had revenue of $823.69 million during the quarter, compared to analyst estimates of $825.11 million. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. During the same period in the prior year, the company earned $0.35 earnings per share. Analysts predict that First Horizon will post 1.67 EPS for the current year.

Hedge Funds Weigh In On First Horizon

Several hedge funds have recently modified their holdings of the company. Brooklyn Investment Group increased its position in shares of First Horizon by 18.9% during the 1st quarter. Brooklyn Investment Group now owns 7,472 shares of the financial services provider’s stock valued at $145,000 after purchasing an additional 1,187 shares during the period. American Century Companies Inc. boosted its holdings in First Horizon by 12.5% during the first quarter. American Century Companies Inc. now owns 283,790 shares of the financial services provider’s stock worth $5,511,000 after buying an additional 31,576 shares in the last quarter. Ethic Inc. boosted its holdings in First Horizon by 8.5% during the first quarter. Ethic Inc. now owns 28,787 shares of the financial services provider’s stock worth $551,000 after buying an additional 2,252 shares in the last quarter. Brandywine Global Investment Management LLC boosted its holdings in First Horizon by 9.5% during the first quarter. Brandywine Global Investment Management LLC now owns 156,917 shares of the financial services provider’s stock worth $3,047,000 after buying an additional 13,566 shares in the last quarter. Finally, Azimuth Capital Investment Management LLC bought a new stake in First Horizon during the first quarter worth approximately $204,000. 80.28% of the stock is currently owned by institutional investors and hedge funds.

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.