First Horizon (NYSE:FHN) Downgraded by StockNews.com

First Horizon (NYSE:FHN) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

A number of other equities research analysts have also commented on the stock. Keefe, Bruyette & Woods upgraded shares of First Horizon from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $16.00 to $18.00 in a report on Friday, April 5th. Robert W. Baird lifted their price target on shares of First Horizon from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, April 18th. Wedbush reiterated an “outperform” rating and issued a $17.00 price target on shares of First Horizon in a research note on Wednesday, April 10th. Barclays initiated coverage on shares of First Horizon in a research note on Friday, March 8th. They issued an “overweight” rating and a $18.00 price target on the stock. Finally, Wells Fargo & Company lifted their price target on shares of First Horizon from $14.00 to $16.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, First Horizon currently has an average rating of “Moderate Buy” and a consensus target price of $16.15.

First Horizon Trading Up 4.1 %

Shares of NYSE:FHN opened at $15.67 on Wednesday. First Horizon has a 12 month low of $8.99 and a 12 month high of $16.65. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.13. The company’s fifty day simple moving average is $14.70 and its 200 day simple moving average is $13.64. The firm has a market cap of $8.70 billion, a price-to-earnings ratio of 10.80, a PEG ratio of 4.10 and a beta of 0.94.

First Horizon (NYSE:FHN) last issued its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. First Horizon had a net margin of 16.07% and a return on equity of 8.96%. The business had revenue of $819.00 million for the quarter, compared to analyst estimates of $809.51 million. During the same period last year, the business posted $0.46 earnings per share. The firm’s quarterly revenue was down 4.7% on a year-over-year basis. As a group, research analysts forecast that First Horizon will post 1.5 EPS for the current fiscal year.

First Horizon declared that its Board of Directors has approved a share buyback plan on Tuesday, January 23rd that authorizes the company to repurchase $650.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 7.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Daiwa Securities Group Inc. grew its position in shares of First Horizon by 713.9% during the 1st quarter. Daiwa Securities Group Inc. now owns 29,300 shares of the financial services provider’s stock worth $451,000 after purchasing an additional 25,700 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in shares of First Horizon during the 1st quarter worth approximately $28,000. Greenwood Capital Associates LLC grew its position in shares of First Horizon by 9.7% during the 1st quarter. Greenwood Capital Associates LLC now owns 397,676 shares of the financial services provider’s stock worth $6,124,000 after purchasing an additional 35,020 shares in the last quarter. Capstone Investment Advisors LLC acquired a new position in shares of First Horizon during the 1st quarter worth approximately $448,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of First Horizon by 48.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 116,595 shares of the financial services provider’s stock worth $1,796,000 after purchasing an additional 38,295 shares in the last quarter. Institutional investors and hedge funds own 80.28% of the company’s stock.

About First Horizon

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.