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

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

FHN has been the subject of several other reports. Wedbush reaffirmed an “outperform” rating and set a $17.00 price objective on shares of First Horizon in a report on Wednesday, April 10th. Jefferies Financial Group lifted their price objective on First Horizon from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Raymond James cut First Horizon from a “strong-buy” rating to an “outperform” rating and set a $18.00 price objective for the company. in a research report on Thursday. Stephens began coverage on First Horizon in a report on Thursday, May 23rd. They issued an “overweight” rating and a $19.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their price target on First Horizon from $16.00 to $17.50 and gave the stock a “neutral” rating in a report on Thursday, April 4th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, First Horizon presently has a consensus rating of “Moderate Buy” and an average price target of $17.31.

First Horizon Trading Up 1.4 %

Shares of NYSE:FHN opened at $16.42 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $8.98 billion, a PE ratio of 11.48, a P/E/G ratio of 2.40 and a beta of 0.89. First Horizon has a 1 year low of $10.08 and a 1 year high of $17.46. The firm has a fifty day moving average price of $15.54 and a 200 day moving average price of $14.89.

First Horizon (NYSE:FHN) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). First Horizon had a return on equity of 8.84% and a net margin of 14.03%. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $819.82 million. During the same quarter last year, the company posted $0.39 EPS. Analysts expect that First Horizon will post 1.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Leeward Investments LLC MA raised its holdings in shares of First Horizon by 1.1% in the 2nd quarter. Leeward Investments LLC MA now owns 2,222,064 shares of the financial services provider’s stock worth $35,042,000 after buying an additional 24,695 shares in the last quarter. Davis Investment Partners LLC raised its stake in First Horizon by 312.0% during the second quarter. Davis Investment Partners LLC now owns 109,599 shares of the financial services provider’s stock worth $1,816,000 after acquiring an additional 82,999 shares in the last quarter. Blue Trust Inc. raised its stake in First Horizon by 57.5% during the second quarter. Blue Trust Inc. now owns 12,418 shares of the financial services provider’s stock worth $191,000 after acquiring an additional 4,534 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of First Horizon by 6.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 112,768 shares of the financial services provider’s stock valued at $1,778,000 after acquiring an additional 6,656 shares during the period. Finally, M&G Plc grew its holdings in shares of First Horizon by 12.4% in the 2nd quarter. M&G Plc now owns 601,017 shares of the financial services provider’s stock worth $9,616,000 after purchasing an additional 66,416 shares during 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.