First Horizon (NYSE:FHN) Downgraded by StockNews.com to “Sell”

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

A number of other research firms have also recently issued reports on FHN. Evercore ISI decreased their target price on First Horizon from $18.50 to $17.50 and set an “outperform” rating on the stock in a research report on Tuesday. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $18.00 price objective on shares of First Horizon in a research note on Tuesday, June 11th. JPMorgan Chase & Co. lifted their price objective on First Horizon from $16.00 to $17.50 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. Wells Fargo & Company boosted their price target on First Horizon from $14.00 to $16.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. Finally, Robert W. Baird boosted their price target on First Horizon from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.69.

First Horizon Stock Up 0.2 %

FHN opened at $14.80 on Wednesday. First Horizon has a fifty-two week low of $10.08 and a fifty-two week high of $16.28. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.95 and a current ratio of 0.96. The company has a market capitalization of $8.09 billion, a P/E ratio of 10.35, a P/E/G ratio of 2.01 and a beta of 0.91. The stock has a fifty day moving average of $15.29 and a 200-day moving average of $14.65.

First Horizon (NYSE:FHN) last issued its quarterly earnings results 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 return on equity of 8.96% and a net margin of 16.07%. The company had revenue of $819.00 million for the quarter, compared to analysts’ expectations of $809.51 million. During the same quarter last year, the business earned $0.46 earnings per share. First Horizon’s revenue was down 4.7% on a year-over-year basis. On average, equities analysts expect that First Horizon will post 1.5 EPS for the current year.

Institutional Investors Weigh In On First Horizon

Institutional investors have recently bought and sold shares of the stock. Abich Financial Wealth Management LLC grew its stake in First Horizon by 54.5% in the 1st quarter. Abich Financial Wealth Management LLC now owns 3,613 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 1,274 shares during the period. Cetera Advisors LLC grew its stake in First Horizon by 54.6% in the 1st quarter. Cetera Advisors LLC now owns 28,590 shares of the financial services provider’s stock valued at $440,000 after purchasing an additional 10,103 shares during the period. Algebris UK Ltd bought a new position in First Horizon in the 1st quarter valued at $5,749,000. Tidal Investments LLC bought a new position in First Horizon in the 1st quarter valued at $207,000. Finally, EJF Capital LLC grew its stake in First Horizon by 43.3% in the 1st quarter. EJF Capital LLC now owns 234,487 shares of the financial services provider’s stock valued at $3,611,000 after purchasing an additional 70,830 shares during the period. Institutional investors 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.