First Horizon (NYSE:FHN) Rating Increased to Strong-Buy at Baird R W

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

FHN has been the subject of a number of other reports. StockNews.com raised shares of First Horizon from a “sell” rating to a “hold” rating in a research note on Tuesday. Wells Fargo & Company increased their price objective on First Horizon from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. Raymond James dropped their target price on First Horizon from $23.00 to $22.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 2nd. Barclays upped their price target on First Horizon from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Finally, Stephens reiterated an “overweight” rating and issued a $24.00 price objective on shares of First Horizon in a report on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.43.

First Horizon Price Performance

FHN opened at $16.45 on Monday. The company has a fifty day simple moving average of $20.07 and a 200 day simple moving average of $19.43. 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 stock has a market cap of $8.46 billion, a P/E ratio of 12.10, a P/E/G ratio of 1.19 and a beta of 0.60. First Horizon has a 12 month low of $13.72 and a 12 month high of $22.44.

First Horizon (NYSE:FHN) last announced its earnings results on Thursday, January 16th. The financial services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.38 by $0.05. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. During the same quarter in the prior year, the company posted $0.32 EPS. On average, research analysts expect that First Horizon will post 1.67 EPS for the current year.

Insider Buying and Selling

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the 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 in the company, valued at $39,330,980.53. This trade represents a 5.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.87% of the stock is currently owned by insiders.

Hedge Funds Weigh In On First Horizon

Several institutional investors and hedge funds have recently modified their holdings of FHN. Belpointe Asset Management LLC raised its stake in First Horizon by 3.1% in the 4th quarter. Belpointe Asset Management LLC now owns 17,631 shares of the financial services provider’s stock worth $355,000 after purchasing an additional 535 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of First Horizon by 3.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 15,731 shares of the financial services provider’s stock worth $317,000 after purchasing an additional 571 shares during the period. Farther Finance Advisors LLC raised its position in shares of First Horizon by 29.9% in the fourth quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider’s stock valued at $52,000 after buying an additional 591 shares in the last quarter. Independent Advisor Alliance grew its position in First Horizon by 1.1% during the fourth quarter. Independent Advisor Alliance now owns 57,730 shares of the financial services provider’s stock worth $1,163,000 after buying an additional 632 shares in the last quarter. Finally, Access Investment Management LLC increased its stake in First Horizon by 0.8% during the 4th quarter. Access Investment Management LLC now owns 88,490 shares of the financial services provider’s stock worth $1,782,000 after acquiring an additional 675 shares during the period. 80.28% of the stock is currently owned by institutional investors and hedge funds.

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.