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

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

Other research analysts have also recently issued research reports about the stock. Barclays dropped their target price on shares of First Horizon from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company decreased their price objective 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. Citigroup upped their target price on First Horizon from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Royal Bank of Canada restated an “outperform” rating and issued a $24.00 target price (up previously from $22.00) on shares of First Horizon in a report on Monday, June 9th. Finally, Bank of America raised their price objective on First Horizon from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. 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 company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $22.53.

First Horizon Stock Down 3.7%

Shares of NYSE:FHN opened at $19.08 on Friday. The company’s fifty 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 quick ratio of 0.95 and a current ratio of 0.96. First Horizon has a 52 week low of $14.09 and a 52 week high of $22.44. The company has a market capitalization of $9.68 billion, a PE ratio of 14.03, a P/E/G ratio of 1.19 and a beta of 0.61.

First Horizon (NYSE:FHN) last issued its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.42 EPS for the quarter, topping the consensus estimate of $0.40 by $0.02. The company had revenue of $823.69 million during 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 previous year, the company earned $0.35 EPS. Equities research analysts predict that First Horizon will post 1.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Belpointe Asset Management LLC boosted its stake in shares of First Horizon by 3.1% in the fourth quarter. Belpointe Asset Management LLC now owns 17,631 shares of the financial services provider’s stock worth $355,000 after acquiring an additional 535 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in First Horizon by 3.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 15,731 shares of the financial services provider’s stock worth $317,000 after purchasing an additional 571 shares during the period. HighTower Advisors LLC boosted its position in shares of First Horizon by 1.0% during the 1st quarter. HighTower Advisors LLC now owns 60,510 shares of the financial services provider’s stock worth $1,175,000 after acquiring an additional 575 shares in the last quarter. Farther Finance Advisors LLC boosted its position 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 in the last quarter. Finally, Independent Advisor Alliance boosted its position in shares of First Horizon by 1.1% in the 4th quarter. Independent Advisor Alliance now owns 57,730 shares of the financial services provider’s stock valued at $1,163,000 after purchasing an additional 632 shares during the period. 80.28% of the stock is currently owned by hedge funds and other institutional investors.

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.