First Horizon (NYSE:FHN) Stock Rating Upgraded by Autonomous Res

First Horizon (NYSE:FHN) was upgraded by investment analysts at Autonomous Res from a “strong sell” rating to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other research firms have also weighed in on FHN. Wall Street Zen lowered shares of First Horizon from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Zacks Research downgraded shares of First Horizon from a “strong-buy” rating to a “hold” rating in a report on Friday, March 20th. Fundamental Research set a $28.50 price target on shares of First Horizon in a research report on Wednesday. UBS Group cut shares of First Horizon from a “buy” rating to a “neutral” rating and cut their price objective for the company from $29.00 to $25.00 in a report on Tuesday, April 7th. Finally, Barclays decreased their price objective on shares of First Horizon from $30.00 to $29.00 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $26.73.

First Horizon Stock Up 1.5%

First Horizon stock opened at $26.01 on Tuesday. The firm has a market cap of $12.35 billion, a price-to-earnings ratio of 13.01, a price-to-earnings-growth ratio of 1.00 and a beta of 0.60. First Horizon has a 52 week low of $19.80 and a 52 week high of $26.56. The business’s 50-day moving average price is $24.53 and its 200 day moving average price is $24.15. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.15.

First Horizon (NYSE:FHN) last announced its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. First Horizon had a return on equity of 11.65% and a net margin of 20.54%.The company had revenue of $865.00 million during the quarter, compared to the consensus estimate of $869.49 million. During the same period in the previous year, the company posted $0.42 earnings per share. First Horizon’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, sell-side analysts anticipate that First Horizon will post 2.15 earnings per share for the current year.

Hedge Funds Weigh In On First Horizon

Hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank purchased a new stake in First Horizon during the 4th quarter valued at about $153,942,000. Artemis Investment Management LLP purchased a new position in First Horizon in the 4th quarter worth approximately $90,319,000. North Reef Capital Management LP boosted its holdings in shares of First Horizon by 25.5% during the 1st quarter. North Reef Capital Management LP now owns 14,453,208 shares of the financial services provider’s stock worth $328,955,000 after purchasing an additional 2,936,368 shares during the last quarter. Cullen Capital Management LLC grew its position in shares of First Horizon by 3,401.0% in the fourth quarter. Cullen Capital Management LLC now owns 2,030,457 shares of the financial services provider’s stock valued at $48,528,000 after purchasing an additional 1,972,461 shares in the last quarter. Finally, Arete Wealth Advisors LLC acquired a new stake in shares of First Horizon in the first quarter valued at approximately $43,483,000. 80.28% of the stock is owned by hedge funds and other institutional investors.

About First Horizon

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.