First Horizon (NYSE:FHN) Stock Rating Upgraded by StockNews.com

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

Several other analysts also recently issued reports on the stock. Keefe, Bruyette & Woods raised shares of First Horizon from a market perform rating to an outperform rating and lifted their price target for the company from $16.00 to $18.00 in a research report on Friday, April 5th. Evercore ISI lifted their price target on shares of First Horizon from $17.00 to $17.50 and gave the company an outperform rating in a research report on Thursday, March 28th. Robert W. Baird lifted their price target on shares of First Horizon from $15.00 to $16.00 and gave the company a neutral rating in a research report on Thursday, April 18th. JPMorgan Chase & Co. lifted their price objective on shares of First Horizon from $16.00 to $17.50 and gave the stock a neutral rating in a report on Thursday, April 4th. Finally, Raymond James raised shares of First Horizon from an outperform rating to a strong-buy rating and lifted their price objective for the stock from $13.00 to $17.00 in a report on Friday, January 5th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $16.15.

First Horizon Stock Up 1.9 %

Shares of NYSE FHN opened at $14.92 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.95. First Horizon has a 1 year low of $8.99 and a 1 year high of $18.52. The company has a 50 day simple moving average of $14.57 and a 200 day simple moving average of $13.44. The firm has a market cap of $8.28 billion, a PE ratio of 10.43, a price-to-earnings-growth ratio of 4.03 and a beta of 0.94.

First Horizon (NYSE:FHN) last announced its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. The company had revenue of $819.00 million during the quarter, compared to the consensus estimate of $809.51 million. First Horizon had a net margin of 16.07% and a return on equity of 8.96%. The company’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.46 EPS. On average, research analysts forecast that First Horizon will post 1.5 EPS for the current year.

First Horizon declared that its board has authorized a share buyback plan on Tuesday, January 23rd that authorizes the company to buyback $650.00 million in shares. This buyback authorization authorizes the financial services provider to buy up to 7.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FHN. Vanguard Group Inc. grew its holdings in shares of First Horizon by 4.2% during the third quarter. Vanguard Group Inc. now owns 56,775,050 shares of the financial services provider’s stock worth $625,661,000 after purchasing an additional 2,276,977 shares in the last quarter. California Public Employees Retirement System boosted its stake in First Horizon by 16.0% in the third quarter. California Public Employees Retirement System now owns 994,511 shares of the financial services provider’s stock worth $10,960,000 after buying an additional 137,525 shares in the last quarter. Lecap Asset Management Ltd. purchased a new stake in First Horizon in the fourth quarter worth approximately $1,019,000. Louisiana State Employees Retirement System purchased a new stake in First Horizon in the fourth quarter worth approximately $2,222,000. Finally, Qsemble Capital Management LP purchased a new stake in First Horizon in the third quarter worth approximately $1,189,000. 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.