First Horizon (NYSE:FHN) Now Covered by Jefferies Financial Group

Analysts at Jefferies Financial Group began coverage on shares of First Horizon (NYSE:FHN - Get Free Report) in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The firm set a "buy" rating and a $25.00 price target on the financial services provider's stock. Jefferies Financial Group's target price suggests a potential upside of 26.39% from the company's previous close.

Several other equities analysts have also weighed in on the company. Robert W. Baird upgraded First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 target price on the stock in a report on Monday, April 7th. Bank of America raised their price objective on First Horizon from $23.00 to $24.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Royal Bank of Canada reduced their target price on First Horizon from $24.00 to $22.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. Raymond James cut their target price on shares of First Horizon from $23.00 to $22.00 and set an "outperform" rating for the company in a research report on Wednesday, April 2nd. Finally, Wall Street Zen raised First Horizon from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $22.41.

First Horizon Stock Up 0.1%

FHN traded up $0.02 during midday trading on Wednesday, hitting $19.78. 6,280,892 shares of the company's stock traded hands, compared to its average volume of 6,171,923. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95. The company has a market cap of $10.03 billion, a PE ratio of 14.54, a price-to-earnings-growth ratio of 1.19 and a beta of 0.59. First Horizon has a one year low of $14.09 and a one year high of $22.44. The stock's fifty day simple moving average is $18.51 and its 200-day simple moving average is $19.89.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FHN. Jones Financial Companies Lllp bought a new stake in shares of First Horizon in the 4th quarter worth about $30,000. Byrne Asset Management LLC boosted its position in First Horizon by 115.3% in the first quarter. Byrne Asset Management LLC now owns 1,550 shares of the financial services provider's stock valued at $30,000 after buying an additional 830 shares in the last quarter. Kentucky Trust Co bought a new stake in First Horizon during the fourth quarter worth about $32,000. Geneos Wealth Management Inc. increased its holdings in shares of First Horizon by 156.7% during the first quarter. Geneos Wealth Management Inc. now owns 1,794 shares of the financial services provider's stock worth $35,000 after buying an additional 1,095 shares in the last quarter. Finally, Quarry LP increased its holdings in shares of First Horizon by 129.2% during the first quarter. Quarry LP now owns 2,205 shares of the financial services provider's stock worth $43,000 after buying an additional 1,243 shares in the last quarter. 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.