First Horizon (NYSE:FHN) Downgraded to "Sell" Rating by Wall Street Zen

First Horizon (NYSE:FHN - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Sunday.

Other equities analysts have also recently issued reports about the stock. Wells Fargo & Company dropped 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 report on Wednesday, April 9th. 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 research report on Tuesday, April 8th. Jefferies Financial Group started coverage on shares of First Horizon in a research report on Wednesday, May 21st. They set a "buy" rating and a $25.00 price objective for the company. Truist Financial started coverage on shares of First Horizon in a research report on Tuesday, May 13th. They set a "hold" rating and a $21.00 price objective for the company. Finally, Robert W. Baird upgraded shares of First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 price objective for the company in a research report on Monday, April 7th. One analyst has rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, First Horizon has a consensus rating of "Moderate Buy" and a consensus target price of $22.53.

First Horizon Price Performance

Shares of NYSE:FHN opened at $19.92 on Friday. The firm has a 50 day moving average of $19.13 and a 200-day moving average of $19.80. The stock has a market capitalization of $10.10 billion, a PE ratio of 13.83, a PEG ratio of 1.02 and a beta of 0.61. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.20. First Horizon has a 12 month low of $14.34 and a 12 month high of $22.44.

First Horizon (NYSE:FHN - Get Free Report) last issued 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 analysts' expectations of $825.11 million. First Horizon had a net margin of 16.13% and a return on equity of 10.33%. During the same period in the previous year, the company earned $0.35 EPS. On average, equities research analysts predict that First Horizon will post 1.67 EPS for the current fiscal year.

Hedge Funds Weigh In On First Horizon

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC increased its position in shares of First Horizon by 102.3% during the fourth quarter. Millennium Management LLC now owns 21,285,306 shares of the financial services provider's stock worth $428,686,000 after buying an additional 10,763,349 shares during the period. Bank of New York Mellon Corp increased its position in shares of First Horizon by 26.2% during the fourth quarter. Bank of New York Mellon Corp now owns 37,131,162 shares of the financial services provider's stock worth $747,822,000 after buying an additional 7,715,191 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of First Horizon by 496.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,202,539 shares of the financial services provider's stock worth $165,199,000 after buying an additional 6,827,040 shares during the period. Norges Bank acquired a new stake in shares of First Horizon during the fourth quarter worth $132,418,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of First Horizon during the fourth quarter worth $102,467,000. 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.

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