First Horizon (NYSE:FHN) Rating Lowered to “Sell” at Wall Street Zen

First Horizon (NYSE:FHN) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Sunday.

A number of other research firms have also recently commented on FHN. Barclays dropped their target price on shares of First Horizon from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company dropped their price objective on shares of First Horizon from $22.00 to $20.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 9th. Robert W. Baird raised shares of First Horizon from a “neutral” rating to an “outperform” rating and set a $22.00 target price on the stock in a research note on Monday, April 7th. Royal Bank Of Canada reiterated an “outperform” rating and set a $24.00 price target (up from $22.00) on shares of First Horizon in a report on Monday, June 9th. Finally, Citigroup raised their price objective on First Horizon from $24.00 to $25.00 and gave the company a “buy” rating in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, First Horizon has an average rating of “Moderate Buy” and a consensus target price of $22.53.

First Horizon Stock Up 1.5%

NYSE FHN opened at $20.24 on Friday. The business has a fifty day moving average price of $19.19 and a two-hundred day moving average price of $19.79. The stock has a market capitalization of $10.27 billion, a PE ratio of 14.06, a PEG ratio of 1.02 and a beta of 0.61. First Horizon has a fifty-two week low of $14.34 and a fifty-two week high of $22.44. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.96 and a quick ratio of 0.95.

First Horizon (NYSE:FHN) last posted its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. First Horizon had a return on equity of 10.33% and a net margin of 16.13%. The company had revenue of $823.69 million during the quarter, compared to analysts’ expectations of $825.11 million. During the same quarter in the previous year, the firm earned $0.35 EPS. Equities analysts expect that First Horizon will post 1.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp bought a new stake in shares of First Horizon in the 4th quarter valued at $30,000. Byrne Asset Management LLC lifted its holdings 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 during the period. Geneos Wealth Management Inc. boosted its position in 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 valued at $35,000 after acquiring an additional 1,095 shares during the last quarter. Compass Financial Services Inc acquired a new stake in First Horizon during the 1st quarter worth about $38,000. Finally, Quarry LP raised its position in shares of First Horizon by 129.2% in the 1st quarter. Quarry LP now owns 2,205 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 1,243 shares in the last quarter. 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.