First Horizon (NYSE:FHN) Stock Rating Upgraded by Jefferies Financial Group

First Horizon (NYSE:FHN – Get Rating) was upgraded by Jefferies Financial Group from a “hold” rating to a “buy” rating in a research note issued on Wednesday, The Fly reports.

Several other equities analysts have also issued reports on the company. Wells Fargo & Company upgraded First Horizon from an “equal weight” rating to an “overweight” rating and set a $25.00 price target on the stock in a research note on Friday, March 24th. Bank of America assumed coverage on First Horizon in a research note on Tuesday, May 16th. They set a “buy” rating on the stock. StockNews.com lowered First Horizon from a “hold” rating to a “sell” rating in a research note on Saturday, May 13th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $25.00 price objective on shares of First Horizon in a research note on Wednesday, April 19th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, First Horizon has an average rating of “Hold” and a consensus price target of $25.00.

First Horizon Stock Performance

Shares of FHN stock opened at $10.90 on Wednesday. First Horizon has a 1-year low of $8.99 and a 1-year high of $24.92. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $5.86 billion, a price-to-earnings ratio of 6.73, a P/E/G ratio of 2.67 and a beta of 0.88. The stock’s fifty day simple moving average is $15.17 and its 200-day simple moving average is $20.89.

First Horizon (NYSE:FHN – Get Rating) last released its quarterly earnings data on Tuesday, April 18th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.01). First Horizon had a net margin of 24.76% and a return on equity of 13.53%. The firm had revenue of $863.00 million for the quarter, compared to analyst estimates of $871.36 million. During the same period in the previous year, the business posted $0.38 EPS. First Horizon’s revenue for the quarter was up 22.6% on a year-over-year basis. On average, sell-side analysts predict that First Horizon will post 1.73 earnings per share for the current fiscal year.

Insider Transactions at First Horizon

In other news, Director William H. Fenstermaker acquired 2,950 shares of First Horizon stock in a transaction on Friday, May 12th. The shares were purchased at an average price of $9.56 per share, with a total value of $28,202.00. Following the acquisition, the director now owns 246,312 shares in the company, valued at $2,354,742.72. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director William H. Fenstermaker acquired 2,950 shares of First Horizon stock in a transaction on Friday, May 12th. The shares were purchased at an average price of $9.56 per share, with a total value of $28,202.00. Following the acquisition, the director now owns 246,312 shares in the company, valued at $2,354,742.72. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Colin V. Reed acquired 25,138 shares of First Horizon stock in a transaction on Thursday, May 4th. The shares were purchased at an average cost of $9.96 per share, for a total transaction of $250,374.48. Following the acquisition, the director now owns 187,027 shares in the company, valued at approximately $1,862,788.92. The disclosure for this purchase can be found here. Insiders have acquired 32,036 shares of company stock valued at $320,525 in the last three months. 1.55% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Allworth Financial LP lifted its stake in shares of First Horizon by 5.4% in the 4th quarter. Allworth Financial LP now owns 8,085 shares of the financial services provider’s stock valued at $198,000 after purchasing an additional 416 shares during the period. CWM LLC lifted its stake in shares of First Horizon by 9.7% in the 4th quarter. CWM LLC now owns 5,320 shares of the financial services provider’s stock valued at $130,000 after purchasing an additional 470 shares during the period. Cetera Investment Advisers lifted its stake in shares of First Horizon by 3.2% in the 1st quarter. Cetera Investment Advisers now owns 15,738 shares of the financial services provider’s stock valued at $370,000 after purchasing an additional 491 shares during the period. Balentine LLC lifted its stake in shares of First Horizon by 3.5% in the 4th quarter. Balentine LLC now owns 16,012 shares of the financial services provider’s stock valued at $392,000 after purchasing an additional 536 shares during the period. Finally, HB Wealth Management LLC lifted its stake in shares of First Horizon by 3.1% in the 1st quarter. HB Wealth Management LLC now owns 18,210 shares of the financial services provider’s stock valued at $324,000 after purchasing an additional 552 shares during the period. Institutional investors and hedge funds own 77.41% of the company’s stock.

About First Horizon

(Get Rating)

First Horizon Corp. (Tennessee) operates as a financial holding company, which engages in the provision of checking accounts, savings products, mortgage banking, lending, and financing to individuals and businesses. It operates the business through three segments: Regional Banking, Specialty Banking, and Corporate.