First Horizon (NYSE:FHN) Lowered to Sell Rating 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 to investors on Monday.

A number of other equities research analysts also recently commented on FHN. Stephens reissued an “overweight” rating and issued a $24.00 price objective on shares of First Horizon in a research report on Friday, January 17th. Royal Bank of Canada raised their price target on First Horizon from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Citigroup raised their price target on First Horizon from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Keefe, Bruyette & Woods increased their price objective on First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Finally, Wells Fargo & Company boosted their target price on First Horizon from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.23.

First Horizon Stock Up 1.0 %

Shares of NYSE:FHN traded up $0.19 during trading on Monday, hitting $19.42. The company’s stock had a trading volume of 5,015,282 shares, compared to its average volume of 6,193,606. First Horizon has a fifty-two week low of $13.72 and a fifty-two week high of $22.44. The business has a 50 day moving average price of $20.60 and a two-hundred day moving average price of $19.39. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96. The company has a market capitalization of $9.99 billion, a PE ratio of 14.28, a P/E/G ratio of 1.19 and a beta of 0.86.

First Horizon (NYSE:FHN) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period last year, the company posted $0.32 EPS. As a group, research analysts expect that First Horizon will post 1.67 EPS for the current fiscal year.

Insider Activity

In related news, CEO D Bryan Jordan sold 109,980 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $21.13, for a total value of $2,323,877.40. Following the completion of the transaction, the chief executive officer now owns 1,861,381 shares of the company’s stock, valued at approximately $39,330,980.53. The trade was a 5.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On First Horizon

Several hedge funds have recently modified their holdings of the company. Cerity Partners LLC boosted its position in First Horizon by 44.9% during the third quarter. Cerity Partners LLC now owns 114,529 shares of the financial services provider’s stock worth $1,779,000 after acquiring an additional 35,479 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of First Horizon by 590.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 517,625 shares of the financial services provider’s stock worth $8,039,000 after purchasing an additional 442,686 shares during the period. Townsquare Capital LLC acquired a new position in First Horizon in the third quarter valued at $231,000. CreativeOne Wealth LLC increased its stake in First Horizon by 7.1% in the third quarter. CreativeOne Wealth LLC now owns 11,665 shares of the financial services provider’s stock valued at $181,000 after purchasing an additional 773 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in First Horizon by 2.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 115,708 shares of the financial services provider’s stock worth $1,797,000 after buying an additional 2,707 shares during the period. 80.28% of the stock is owned by institutional investors and hedge funds.

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.