First Horizon (NYSE:FHN) Rating Lowered to Strong Sell at Autonomous Res

First Horizon (NYSE:FHN) was downgraded by stock analysts at Autonomous Res from a “strong-buy” rating to a “strong sell” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Several other equities analysts have also recently issued reports on FHN. Weiss Ratings raised First Horizon from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, April 16th. Royal Bank Of Canada reiterated an “outperform” rating and set a $28.00 price target on shares of First Horizon in a report on Monday, January 12th. Barclays dropped their price objective on First Horizon from $30.00 to $29.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 7th. UBS Group cut shares of First Horizon from a “buy” rating to a “neutral” rating and lowered their target price for the company from $29.00 to $25.00 in a research note on Tuesday, April 7th. Finally, Raymond James Financial boosted their price target on First Horizon from $23.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, January 7th. Nine research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, First Horizon presently has an average rating of “Hold” and an average target price of $26.45.

First Horizon Stock Performance

NYSE FHN opened at $24.89 on Wednesday. First Horizon has a 1 year low of $18.43 and a 1 year high of $26.56. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $11.89 billion, a PE ratio of 12.45, a P/E/G ratio of 0.97 and a beta of 0.62. The company’s 50 day simple moving average is $23.46 and its two-hundred day simple moving average is $23.29.

First Horizon (NYSE:FHN) last released its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.04. The firm had revenue of $865.00 million for the quarter, compared to analysts’ expectations of $869.49 million. First Horizon had a return on equity of 11.65% and a net margin of 20.54%.The company’s revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.42 EPS. Analysts predict that First Horizon will post 2.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On First Horizon

A number of large investors have recently bought and sold shares of FHN. Thoroughbred Financial Services LLC boosted its holdings in First Horizon by 3.4% in the fourth quarter. Thoroughbred Financial Services LLC now owns 14,055 shares of the financial services provider’s stock valued at $335,000 after purchasing an additional 457 shares during the last quarter. Illinois Municipal Retirement Fund lifted 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. lifted 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 holdings in shares of First Horizon by 5.4% during the 4th quarter. Aaron Wealth Advisors LLC now owns 9,905 shares of the financial services provider’s stock worth $237,000 after acquiring an additional 511 shares during the period. Finally, Sanctuary Advisors LLC raised its position in shares of First Horizon by 3.5% during the 4th quarter. Sanctuary Advisors LLC now owns 15,803 shares of the financial services provider’s stock valued at $378,000 after buying an additional 537 shares during the period. Hedge funds and other institutional investors 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.