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

First Horizon (NYSE:FHN - Get Free Report) was upgraded by research analysts at StockNews.com from a "sell" rating to a "hold" rating in a research report issued on Monday.

Other equities analysts have also recently issued research reports about the company. Baird R W upgraded First Horizon from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Robert W. Baird raised First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 price target for the company in a research report on Monday, April 7th. Royal Bank of Canada decreased their price objective on First Horizon from $24.00 to $22.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. JPMorgan Chase & Co. upped their price target on First Horizon from $22.50 to $23.50 and gave the stock a "neutral" rating in a report on Friday, January 17th. Finally, Wells Fargo & Company dropped their price target on 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. Seven investment 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $21.97.

First Horizon Price Performance

NYSE FHN traded down $0.05 during trading hours on Monday, hitting $20.31. The company had a trading volume of 3,549,694 shares, compared to its average volume of 6,137,600. The firm has a market capitalization of $10.30 billion, a price-to-earnings ratio of 14.93, a PEG ratio of 1.19 and a beta of 0.59. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96. The firm has a 50 day simple moving average of $18.31 and a 200 day simple moving average of $19.75. First Horizon has a 52 week low of $14.09 and a 52 week high of $22.44.

First Horizon (NYSE:FHN - Get Free Report) last posted its earnings results on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.02. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. The firm had revenue of $823.69 million for the quarter, compared to analysts' expectations of $825.11 million. During the same period in the previous year, the firm earned $0.35 earnings per share. Equities research analysts expect that First Horizon will post 1.67 earnings per share for the current year.

Institutional Investors Weigh In On First Horizon

Several hedge funds have recently bought and sold shares of FHN. Belpointe Asset Management LLC grew its holdings in First Horizon by 3.1% in the 4th 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 shares of First Horizon by 3.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 15,731 shares of the financial services provider's stock valued at $317,000 after acquiring an additional 571 shares in the last quarter. HighTower Advisors LLC increased its position in shares of First Horizon by 1.0% during the first quarter. HighTower Advisors LLC now owns 60,510 shares of the financial services provider's stock valued at $1,175,000 after acquiring an additional 575 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in First Horizon by 29.9% in the 4th quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider's stock worth $52,000 after buying an additional 591 shares in the last quarter. Finally, Independent Advisor Alliance grew its stake in shares of First Horizon by 1.1% in the fourth quarter. Independent Advisor Alliance now owns 57,730 shares of the financial services provider's stock worth $1,163,000 after acquiring an additional 632 shares during the period. 80.28% of the stock is currently owned by institutional investors and hedge funds.

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.