First Horizon (NYSE:FHN) Rating Reiterated by Wedbush

First Horizon (NYSE:FHN - Get Free Report)'s stock had its "outperform" rating restated by investment analysts at Wedbush in a research report issued on Wednesday, Benzinga reports. They currently have a $17.00 target price on the financial services provider's stock. Wedbush's price objective points to a potential upside of 17.08% from the company's current price.

A number of other analysts also recently issued reports on FHN. Barclays assumed coverage on shares of First Horizon in a report on Friday, March 8th. They set an "overweight" rating and a $18.00 price objective for the company. Royal Bank of Canada raised shares of First Horizon from a "sector perform" rating to an "outperform" rating and lifted their price target for the stock from $16.00 to $18.00 in a report on Tuesday. UBS Group raised First Horizon from a "neutral" rating to a "buy" rating and increased their price objective for the company from $15.50 to $16.00 in a report on Wednesday, January 24th. Evercore ISI boosted their target price on First Horizon from $17.00 to $17.50 and gave the company an "outperform" rating in a research note on Thursday, March 28th. Finally, Wells Fargo & Company increased their price target on First Horizon from $14.00 to $16.00 and gave the stock an "equal weight" rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $16.00.

First Horizon Stock Down 3.4 %

Shares of FHN stock traded down $0.51 during trading hours on Wednesday, reaching $14.52. The company had a trading volume of 6,289,211 shares, compared to its average volume of 7,269,619. The business has a fifty day simple moving average of $14.48 and a 200-day simple moving average of $13.22. First Horizon has a 12 month low of $8.99 and a 12 month high of $18.99. The company has a market cap of $8.06 billion, a price-to-earnings ratio of 9.51, a price-to-earnings-growth ratio of 4.38 and a beta of 0.94. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.95 and a quick ratio of 0.94.

First Horizon (NYSE:FHN - Get Free Report) last announced its earnings results on Thursday, January 18th. The financial services provider reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01. First Horizon had a net margin of 17.80% and a return on equity of 9.94%. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $784.20 million. During the same quarter in the prior year, the company posted $0.51 earnings per share. On average, research analysts expect that First Horizon will post 1.42 earnings per share for the current fiscal year.

First Horizon declared that its Board of Directors has approved a share repurchase program on Tuesday, January 23rd that allows the company to repurchase $650.00 million in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 7.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Cetera Investment Advisers raised its holdings in First Horizon by 3.2% during the 1st quarter. Cetera Investment Advisers now owns 15,738 shares of the financial services provider's stock valued at $370,000 after buying an additional 491 shares during the last quarter. Blair William & Co. IL raised its stake in shares of First Horizon by 2.1% during the first quarter. Blair William & Co. IL now owns 28,364 shares of the financial services provider's stock valued at $666,000 after acquiring an additional 575 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of First Horizon by 0.6% during the second quarter. Thrivent Financial for Lutherans now owns 140,326 shares of the financial services provider's stock worth $3,068,000 after purchasing an additional 788 shares during the period. Wetherby Asset Management Inc. boosted its holdings in shares of First Horizon by 7.0% during the first quarter. Wetherby Asset Management Inc. now owns 12,152 shares of the financial services provider's stock worth $285,000 after purchasing an additional 800 shares during the period. Finally, United Services Automobile Association grew its stake in shares of First Horizon by 2.5% in the second quarter. United Services Automobile Association now owns 34,254 shares of the financial services provider's stock worth $386,000 after purchasing an additional 836 shares during the last quarter. Hedge funds and other 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.