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

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

Several other analysts have also recently weighed in on FHN. Wells Fargo & Company increased their price target on shares of First Horizon from $23.00 to $25.00 and gave the company an “equal weight” rating in a research note on Monday, March 30th. DA Davidson reiterated a “neutral” rating and issued a $26.00 price objective on shares of First Horizon in a report on Thursday, April 16th. Fundamental Research set a $28.50 price objective on First Horizon in a report on Wednesday. Barclays lowered their price objective on First Horizon from $30.00 to $29.00 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. Finally, JPMorgan Chase & Co. raised their target price on First Horizon from $26.00 to $28.50 and gave the stock a “neutral” rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, First Horizon currently has an average rating of “Moderate Buy” and an average target price of $26.73.

First Horizon Stock Up 1.5%

NYSE FHN opened at $26.01 on Tuesday. The business’s fifty day simple moving average is $24.53 and its 200-day simple moving average 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. The firm has a market cap of $12.35 billion, a PE ratio of 13.01, a P/E/G 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.

First Horizon (NYSE:FHN) last announced its quarterly earnings data 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 net margin of 20.54% and a return on equity of 11.65%. The firm had revenue of $865.00 million during the quarter, compared to analyst estimates of $869.49 million. During the same quarter in the prior year, the firm posted $0.42 earnings per share. First Horizon’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, equities 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 have recently made changes to their positions in the stock. Bessemer Group Inc. raised its position in First Horizon by 0.3% in the first quarter. Bessemer Group Inc. now owns 138,920 shares of the financial services provider’s stock valued at $3,162,000 after purchasing an additional 425 shares during the period. Thoroughbred Financial Services LLC boosted its position in shares of First Horizon by 3.4% during the fourth quarter. Thoroughbred Financial Services LLC now owns 14,055 shares of the financial services provider’s stock worth $335,000 after buying an additional 457 shares during the period. Illinois Municipal Retirement Fund boosted its position in shares of First Horizon by 0.7% during the fourth quarter. Illinois Municipal Retirement Fund now owns 68,661 shares of the financial services provider’s stock worth $1,641,000 after buying an additional 489 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of First Horizon by 1.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 40,296 shares of the financial services provider’s stock valued at $963,000 after buying an additional 507 shares in the last quarter. Finally, Aaron Wealth Advisors LLC grew its stake in shares of First Horizon by 5.4% in the fourth quarter. Aaron Wealth Advisors LLC now owns 9,905 shares of the financial services provider’s stock valued at $237,000 after buying an additional 511 shares in the last quarter. 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.