First Horizon (NYSE:FHN) Upgraded by Baird R W to Strong-Buy Rating

First Horizon (NYSE:FHN) was upgraded by equities researchers at Baird R W from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Several other equities analysts have also weighed in on the stock. Keefe, Bruyette & Woods raised their price objective on shares of First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. Barclays boosted their target price on First Horizon from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Stephens reiterated an “overweight” rating and issued a $24.00 price target on shares of First Horizon in a research report on Friday, January 17th. StockNews.com upgraded shares of First Horizon from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. upped their price objective on shares of First Horizon from $22.50 to $23.50 and gave the stock a “neutral” rating in a report on Friday, January 17th. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.57.

First Horizon Trading Up 1.9 %

Shares of NYSE:FHN opened at $16.51 on Monday. First Horizon has a fifty-two week low of $13.72 and a fifty-two week high of $22.44. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. The company has a market cap of $8.49 billion, a PE ratio of 12.14, a P/E/G ratio of 1.19 and a beta of 0.60. The company’s 50-day moving average price is $20.27 and its 200 day moving average price is $19.45.

First Horizon (NYSE:FHN) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.05. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. During the same quarter in the prior year, the firm earned $0.32 earnings per share. Sell-side analysts anticipate that First Horizon will post 1.67 earnings per share for the current year.

Insider Activity at First Horizon

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the company’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $21.13, for a total transaction of $2,323,877.40. Following the transaction, the chief executive officer now owns 1,861,381 shares of the company’s stock, valued at approximately $39,330,980.53. This represents a 5.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.87% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On First Horizon

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc raised its holdings in First Horizon by 160.1% during the 4th quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 884 shares during the last quarter. Jones Financial Companies Lllp bought a new stake in shares of First Horizon during the fourth quarter worth approximately $30,000. Kentucky Trust Co acquired a new position in First Horizon in the fourth quarter valued at approximately $32,000. Lee Danner & Bass Inc. bought a new position in First Horizon in the fourth quarter valued at approximately $50,000. Finally, Farther Finance Advisors LLC grew its holdings in First Horizon by 29.9% during the 4th quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 591 shares during the period. Institutional investors own 80.28% of the company’s stock.

First Horizon Company Profile

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.