First Horizon (NYSE:FHN) Stock Rating Upgraded by Wall Street Zen

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

FHN has been the subject of several other reports. Barclays lifted their target price on shares of First Horizon from $26.00 to $29.00 and gave the stock an “overweight” rating in a research note on Wednesday. Truist Financial lifted their target price on shares of First Horizon from $23.00 to $24.00 and gave the stock a “hold” rating in a research note on Wednesday, September 24th. Evercore ISI boosted their price objective on shares of First Horizon from $25.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Cowen assumed coverage on shares of First Horizon in a research note on Wednesday, September 24th. They set a “hold” rating for the company. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of First Horizon in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, First Horizon has a consensus rating of “Moderate Buy” and an average target price of $24.94.

First Horizon Stock Down 4.8%

FHN stock opened at $22.30 on Friday. The stock has a market capitalization of $11.32 billion, a P/E ratio of 14.39, a PEG ratio of 1.09 and a beta of 0.67. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.96. First Horizon has a one year low of $15.19 and a one year high of $23.63. The company has a 50 day moving average price of $22.41 and a two-hundred day moving average price of $20.68.

First Horizon (NYSE:FHN) last released its earnings results on Wednesday, July 16th. The financial services provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.41 by $0.04. The firm had revenue of $830.19 million during the quarter, compared to analysts’ expectations of $832.95 million. First Horizon had a net margin of 17.10% and a return on equity of 10.55%. During the same period in the previous year, the company earned $0.36 EPS. As a group, sell-side analysts expect that First Horizon will post 1.67 EPS for the current year.

Insiders Place Their Bets

In related news, EVP David T. Popwell sold 100,000 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $22.50, for a total transaction of $2,250,000.00. Following the completion of the sale, the executive vice president directly owned 462,581 shares of the company’s stock, valued at approximately $10,408,072.50. This represents a 17.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Tammy Locascio sold 10,285 shares of the company’s stock in a transaction on Friday, July 18th. The stock was sold at an average price of $22.25, for a total transaction of $228,841.25. Following the sale, the chief operating officer directly owned 342,051 shares of the company’s stock, valued at approximately $7,610,634.75. This trade represents a 2.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 148,295 shares of company stock valued at $3,322,663. 0.87% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On First Horizon

A number of institutional investors have recently added to or reduced their stakes in FHN. Navigoe LLC acquired a new position in First Horizon in the 3rd quarter worth $25,000. Byrne Asset Management LLC lifted its holdings in First Horizon by 115.3% in the 1st quarter. Byrne Asset Management LLC now owns 1,550 shares of the financial services provider’s stock worth $30,000 after buying an additional 830 shares in the last quarter. Kestra Investment Management LLC lifted its holdings in First Horizon by 873.1% in the 2nd quarter. Kestra Investment Management LLC now owns 1,625 shares of the financial services provider’s stock worth $34,000 after buying an additional 1,458 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of First Horizon by 156.7% in 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 in the last quarter. Finally, Compass Financial Services Inc acquired a new stake in shares of First Horizon in the 1st quarter valued at about $38,000. Institutional investors and hedge funds own 80.28% of the company’s stock.

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.