First Horizon (NYSE:FHN) Stock Rating Upgraded by StockNews.com

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

A number of other analysts also recently weighed in on the company. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $18.00 price objective on shares of First Horizon in a report on Tuesday, June 11th. Evercore ISI decreased their price objective on First Horizon from $18.50 to $17.50 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Jefferies Financial Group increased their price objective on First Horizon from $17.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday. Robert W. Baird increased their price objective on First Horizon from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, April 18th. Finally, Stephens began coverage on First Horizon in a report on Thursday, May 23rd. They issued an “overweight” rating and a $19.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, First Horizon has an average rating of “Moderate Buy” and an average target price of $17.15.

First Horizon Stock Down 1.8 %

Shares of NYSE:FHN opened at $15.24 on Thursday. The company has a fifty day moving average of $15.39 and a 200-day moving average of $14.73. The company has a market capitalization of $8.33 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 2.08 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.95 and a current ratio of 0.96. First Horizon has a 52-week low of $10.08 and a 52-week high of $16.28.

First Horizon (NYSE:FHN) last announced its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. The company had revenue of $819.00 million during the quarter, compared to the consensus estimate of $809.51 million. First Horizon had a net margin of 16.07% and a return on equity of 8.96%. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.46 earnings per share. On average, equities analysts predict that First Horizon will post 1.51 EPS for the current fiscal year.

Hedge Funds Weigh In On First Horizon

A number of institutional investors and hedge funds have recently made changes to their positions in FHN. Bank of New York Mellon Corp boosted its position in shares of First Horizon by 224.4% during the 1st quarter. Bank of New York Mellon Corp now owns 28,518,551 shares of the financial services provider’s stock worth $439,186,000 after purchasing an additional 19,728,357 shares in the last quarter. Norges Bank bought a new position in shares of First Horizon during the 4th quarter worth about $86,487,000. LSV Asset Management boosted its position in shares of First Horizon by 49.8% during the 1st quarter. LSV Asset Management now owns 13,333,738 shares of the financial services provider’s stock worth $205,340,000 after purchasing an additional 4,434,929 shares in the last quarter. Junto Capital Management LP bought a new position in First Horizon in the 4th quarter valued at about $52,721,000. Finally, National Bank of Canada FI lifted its position in First Horizon by 499.8% in the 1st quarter. National Bank of Canada FI now owns 4,009,111 shares of the financial services provider’s stock valued at $63,304,000 after acquiring an additional 3,340,700 shares in the last quarter. Institutional investors own 80.28% of the company’s stock.

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.