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

StockNews.com upgraded shares of First Horizon (NYSE:FHN) from a sell rating to a hold rating in a research note released on Thursday.

A number of other equities research analysts have also recently weighed in on FHN. Evercore ISI reduced their price target on shares of First Horizon from $18.50 to $17.50 and set an outperform rating for the company in a research report on Tuesday, June 25th. Jefferies Financial Group upped their target price on First Horizon from $17.00 to $18.00 and gave the company a buy rating in a research report on Wednesday. Barclays lifted their price target on First Horizon from $18.00 to $19.00 and gave the stock an overweight rating in a research report on Monday, June 24th. Robert W. Baird raised their target price on shares of First Horizon from $15.00 to $16.00 and gave the stock a neutral rating in a research report on Thursday, April 18th. Finally, JPMorgan Chase & Co. upped their price target on shares of First Horizon from $16.00 to $17.50 and gave the company a neutral rating in a research report on Thursday, April 4th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, First Horizon currently has an average rating of Moderate Buy and a consensus price target of $17.15.

First Horizon Price Performance

Shares of NYSE FHN opened at $15.52 on Thursday. The stock’s 50-day simple moving average is $15.38 and its 200-day simple moving average is $14.72. The firm has a market capitalization of $8.49 billion, a PE ratio of 10.85, a price-to-earnings-growth ratio of 2.12 and a beta of 0.89. First Horizon has a fifty-two week low of $10.08 and a fifty-two week high of $16.28. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.95 and a current ratio of 0.96.

First Horizon (NYSE:FHN) last released its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. First Horizon had a net margin of 16.07% and a return on equity of 8.96%. The company had revenue of $819.00 million for the quarter, compared to analysts’ expectations of $809.51 million. During the same quarter last year, the company earned $0.46 earnings per share. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. As a group, equities research analysts forecast that First Horizon will post 1.51 EPS for the current fiscal year.

First Horizon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.87%. The ex-dividend date was Friday, June 14th. First Horizon’s payout ratio is 41.96%.

Hedge Funds Weigh In On First Horizon

A number of large investors have recently made changes to their positions in FHN. Vanguard Group Inc. boosted its position in shares of First Horizon by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 57,574,002 shares of the financial services provider’s stock worth $886,640,000 after buying an additional 627,730 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of First Horizon by 224.4% in the first quarter. Bank of New York Mellon Corp now owns 28,518,551 shares of the financial services provider’s stock valued at $439,186,000 after purchasing an additional 19,728,357 shares in the last quarter. LSV Asset Management grew its position in shares of First Horizon by 49.8% in the first quarter. LSV Asset Management now owns 13,333,738 shares of the financial services provider’s stock valued at $205,340,000 after purchasing an additional 4,434,929 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of First Horizon by 10.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,641,140 shares of the financial services provider’s stock valued at $136,526,000 after purchasing an additional 883,503 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of First Horizon during the 4th quarter worth approximately $86,487,000. Hedge funds and other institutional investors 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.