First Horizon (NYSE:FHN) Cut to “Neutral” at UBS Group

First Horizon (NYSE:FHN) was downgraded by research analysts at UBS Group from a “buy” rating to a “neutral” rating in a research report issued on Tuesday, MarketBeat.com reports. They currently have a $25.00 price target on the financial services provider’s stock. UBS Group’s target price indicates a potential upside of 7.36% from the stock’s current price.

A number of other analysts have also recently commented on the stock. Wells Fargo & Company increased their price target on shares of First Horizon from $23.00 to $25.00 and gave the company an “equal weight” rating in a research note on Monday, March 30th. The Goldman Sachs Group set a $27.00 price target on shares of First Horizon and gave the company a “neutral” rating in a research note on Tuesday, January 6th. Zacks Research cut shares of First Horizon from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 20th. DA Davidson increased their price target on shares of First Horizon from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, January 16th. Finally, Robert W. Baird cut shares of First Horizon from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 11th. Eight analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, First Horizon currently has a consensus rating of “Hold” and a consensus price target of $26.50.

First Horizon Stock Performance

Shares of FHN stock opened at $23.29 on Tuesday. The stock has a market cap of $11.12 billion, a P/E ratio of 12.39, a P/E/G ratio of 0.88 and a beta of 0.62. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.96 and a quick ratio of 0.95. The company has a fifty day moving average price of $23.72 and a two-hundred day moving average price of $23.09. First Horizon has a one year low of $15.56 and a one year high of $26.56.

First Horizon (NYSE:FHN) last announced its quarterly earnings results on Thursday, January 15th. The financial services provider reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.06. The firm had revenue of $892.00 million during the quarter, compared to analysts’ expectations of $863.87 million. First Horizon had a net margin of 19.67% and a return on equity of 11.21%. During the same quarter last year, the company posted $0.43 earnings per share. As a group, equities analysts predict that First Horizon will post 1.67 EPS for the current year.

Insider Activity

In other news, EVP Anthony J. Restel sold 5,719 shares of the firm’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $24.35, for a total transaction of $139,257.65. Following the completion of the sale, the executive vice president owned 619,132 shares in the company, valued at approximately $15,075,864.20. This trade represents a 0.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.91% of the company’s stock.

Institutional Trading of First Horizon

A number of hedge funds have recently modified their holdings of the stock. Thoroughbred Financial Services LLC lifted its stake in shares of First Horizon by 3.4% during the 4th quarter. Thoroughbred Financial Services LLC now owns 14,055 shares of the financial services provider’s stock worth $335,000 after buying an additional 457 shares during the last quarter. Illinois Municipal Retirement Fund raised its stake in First Horizon by 0.7% in the 4th quarter. Illinois Municipal Retirement Fund now owns 68,661 shares of the financial services provider’s stock worth $1,641,000 after purchasing an additional 489 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in First Horizon by 1.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 40,296 shares of the financial services provider’s stock worth $963,000 after purchasing an additional 507 shares in the last quarter. Aaron Wealth Advisors LLC raised its stake in First Horizon by 5.4% in the 4th quarter. Aaron Wealth Advisors LLC now owns 9,905 shares of the financial services provider’s stock worth $237,000 after purchasing an additional 511 shares in the last quarter. Finally, Sanctuary Advisors LLC raised its stake in First Horizon by 3.5% in the 4th quarter. Sanctuary Advisors LLC now owns 15,803 shares of the financial services provider’s stock worth $378,000 after purchasing an additional 537 shares in the last quarter. Institutional investors and hedge funds own 80.28% of the company’s stock.

First Horizon Company Profile

First Horizon Corporation, headquartered in Memphis, Tennessee, is a diversified financial services company providing an array of retail, commercial and wealth management solutions. As the largest bank-based financial services firm in Tennessee, First Horizon operates through a network of branches and digital platforms across the Southeastern United States, offering personal and business banking, mortgage origination and servicing, payment solutions and treasury management services.

Tracing its origins to the First National Bank of Memphis established in 1864, First Horizon has grown through strategic acquisitions and organic expansion to serve customers in Tennessee, Texas, North Carolina, South Carolina, Georgia and Florida.