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

First Horizon (NYSE:FHN - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Friday.

FHN has been the topic of several other reports. Baird R W upgraded shares of First Horizon from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Raymond James Financial reiterated an "outperform" rating and issued a $24.00 price target (up from $20.00) on shares of First Horizon in a research note on Tuesday, July 8th. Robert W. Baird upgraded shares of First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 price target on the stock in a research note on Monday, April 7th. Keefe, Bruyette & Woods dropped their price target on shares of First Horizon from $24.00 to $22.00 and set a "market perform" rating on the stock in a research note on Thursday, April 17th. Finally, Truist Financial raised their target price on shares of First Horizon from $21.00 to $23.00 and gave the stock a "hold" rating in a research report on Friday, July 11th. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $23.28.

First Horizon Stock Up 0.5%

NYSE:FHN traded up $0.12 during mid-day trading on Friday, hitting $22.33. The stock had a trading volume of 9,141,986 shares, compared to its average volume of 5,967,652. The stock has a 50-day simple moving average of $20.56 and a two-hundred day simple moving average of $19.99. The company has a market capitalization of $11.33 billion, a PE ratio of 14.41, a PEG ratio of 1.09 and a beta of 0.61. First Horizon has a twelve month low of $14.34 and a twelve month high of $22.44. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15.

First Horizon (NYSE:FHN - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $0.45 EPS for the quarter, beating the consensus estimate of $0.41 by $0.04. The company had revenue of $830.19 million for the quarter, compared to analyst estimates 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 prior year, the firm posted $0.36 earnings per share. On average, equities research analysts anticipate that First Horizon will post 1.67 EPS for the current year.

Institutional Investors Weigh In On First Horizon

A number of hedge funds and other institutional investors have recently bought and sold shares of FHN. Millennium Management LLC lifted its holdings in First Horizon by 102.3% in the fourth quarter. Millennium Management LLC now owns 21,285,306 shares of the financial services provider's stock valued at $428,686,000 after acquiring an additional 10,763,349 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in First Horizon by 496.3% in 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 valued at $165,199,000 after acquiring an additional 6,827,040 shares during the period. Norges Bank acquired a new stake in First Horizon in the fourth quarter valued at $132,418,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in First Horizon by 53.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,594,944 shares of the financial services provider's stock valued at $244,594,000 after acquiring an additional 4,392,405 shares during the period. Finally, Freestone Grove Partners LP acquired a new position in shares of First Horizon during the 4th quarter worth $75,485,000. 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.

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