First Horizon (NYSE:FHN) Rating Lowered to Sell at StockNews.com

First Horizon (NYSE:FHN) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Friday.

A number of other analysts have also weighed in on FHN. Royal Bank of Canada upgraded First Horizon from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $16.00 to $18.00 in a research note on Tuesday, April 9th. Evercore ISI reduced their target price on First Horizon from $18.50 to $17.50 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Robert W. Baird increased their target price on First Horizon from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, April 18th. Jefferies Financial Group increased their target price on First Horizon from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Finally, Wells Fargo & Company increased their target price on First Horizon from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, First Horizon has an average rating of “Moderate Buy” and a consensus target price of $17.15.

First Horizon Trading Up 5.5 %

FHN stock opened at $16.56 on Friday. First Horizon has a 1-year low of $10.08 and a 1-year high of $16.58. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.95. The company has a market capitalization of $9.06 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 2.02 and a beta of 0.89. The business has a 50 day simple moving average of $15.43 and a two-hundred day simple moving average of $14.78.

First Horizon (NYSE:FHN) last posted its earnings results on Wednesday, April 17th. The financial services provider reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. First Horizon had a return on equity of 8.96% and a net margin of 16.07%. The firm had revenue of $819.00 million during the quarter, compared to the consensus estimate of $809.51 million. During the same period in the prior year, the company earned $0.46 EPS. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. Research analysts anticipate that First Horizon will post 1.51 EPS for the current fiscal year.

Institutional Investors Weigh In On First Horizon

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Natixis Advisors L.P. raised its holdings in shares of First Horizon by 30.2% in the 4th quarter. Natixis Advisors L.P. now owns 278,830 shares of the financial services provider’s stock valued at $3,948,000 after buying an additional 64,749 shares during the period. Crestline Management LP raised its holdings in shares of First Horizon by 100.8% in the 4th quarter. Crestline Management LP now owns 400,000 shares of the financial services provider’s stock valued at $5,664,000 after buying an additional 200,846 shares during the period. Vanguard Group Inc. raised its holdings in shares of First Horizon by 4.2% in the 3rd quarter. Vanguard Group Inc. now owns 56,775,050 shares of the financial services provider’s stock valued at $625,661,000 after buying an additional 2,276,977 shares during the period. Lecap Asset Management Ltd. purchased a new stake in shares of First Horizon in the 4th quarter valued at $1,019,000. Finally, Greenlight Capital Inc. raised its holdings in shares of First Horizon by 6.2% in the 4th quarter. Greenlight Capital Inc. now owns 1,377,090 shares of the financial services provider’s stock valued at $19,500,000 after buying an additional 80,070 shares during the period. 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.