First Horizon (NYSE:FHN) Upgraded by Wall Street Zen to “Hold” Rating

by · The Cerbat Gem

Wall Street Zen upgraded shares of First Horizon (NYSE:FHN – Free Report) from a sell rating to a hold rating in a research report report published on Sunday.

A number of other equities research analysts have also commented on the company. Citigroup increased their price target on First Horizon from $28.00 to $28.50 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. Wells Fargo & Company increased their price target on First Horizon from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Monday, March 30th. Zacks Research lowered First Horizon from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 20th. Autonomous Res lowered First Horizon from a “strong-buy” rating to a “strong sell” rating in a research report on Wednesday, April 29th. Finally, UBS Group lowered First Horizon from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $29.00 to $25.00 in a research report on Tuesday, April 7th. Nine analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $26.45.

Get Our Latest Stock Analysis on First Horizon

First Horizon Stock Down 0.1%

NYSE FHN opened at $23.55 on Friday. The firm has a market cap of $11.18 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 0.92 and a beta of 0.62. First Horizon has a one year low of $19.03 and a one year high of $26.56. The stock’s 50 day simple moving average is $23.46 and its 200 day simple moving average is $23.52. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.96 and a quick ratio of 0.96.

First Horizon (NYSE:FHN – Get Free Report) last released its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. The business had revenue of $865.00 million for the quarter, compared to analyst estimates of $869.49 million. First Horizon had a return on equity of 11.65% and a net margin of 20.54%.First Horizon’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.42 EPS. As a group, sell-side analysts forecast that First Horizon will post 2.16 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Friday, June 12th. First Horizon’s dividend payout ratio (DPR) is presently 34.00%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp grew its holdings in First Horizon by 313.2% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 62,164 shares of the financial services provider’s stock worth $1,406,000 after acquiring an additional 47,119 shares during the period. Allianz Asset Management GmbH acquired a new stake in First Horizon during the 3rd quarter worth $6,416,000. Andrew Hill Investment Advisors Inc. acquired a new stake in First Horizon during the 4th quarter worth $7,059,000. Hudson Bay Capital Management LP acquired a new stake in First Horizon during the 3rd quarter worth $13,792,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in First Horizon during the 3rd quarter worth $1,211,000. 80.28% of the stock is currently owned by institutional investors.

First Horizon Company Profile

(Get Free Report)

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.

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