Robert W. Baird Upgrades First Horizon (NYSE:FHN) to “Outperform”

First Horizon (NYSE:FHN) was upgraded by analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a report issued on Monday, MarketBeat Ratings reports. The brokerage currently has a $22.00 price target on the financial services provider’s stock. Robert W. Baird’s price objective would suggest a potential upside of 33.71% from the stock’s current price.

Several other equities analysts also recently weighed in on FHN. Keefe, Bruyette & Woods raised their price target on First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Royal Bank of Canada raised their price objective on shares of First Horizon from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. UBS Group began coverage on shares of First Horizon in a research note on Tuesday, December 17th. They issued a “buy” rating and a $25.00 target price on the stock. Bank of America raised their price target on shares of First Horizon from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Finally, Wells Fargo & Company upped their price objective on First Horizon from $21.00 to $22.00 and gave the company an “equal weight” rating in a research 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 given a strong buy rating to the stock. According to data from MarketBeat.com, First Horizon has an average rating of “Moderate Buy” and a consensus target price of $22.43.

First Horizon Price Performance

Shares of FHN opened at $16.45 on Monday. First Horizon has a fifty-two week low of $13.72 and a fifty-two week high of $22.44. The firm’s 50-day simple moving average is $20.07 and its two-hundred day simple moving average is $19.43. The stock has a market cap of $8.46 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 1.19 and a beta of 0.60. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96.

First Horizon (NYSE:FHN) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 EPS for the quarter, topping 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 in the previous year, the company posted $0.32 EPS. Analysts anticipate that First Horizon will post 1.67 earnings per share for the current fiscal year.

Insider Transactions at First Horizon

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $21.13, for a total transaction of $2,323,877.40. Following the completion of the sale, the chief executive officer now directly 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On First Horizon

A number of hedge funds have recently modified their holdings of the business. GAMMA Investing LLC raised its holdings in First Horizon by 2,658.3% in the 1st quarter. GAMMA Investing LLC now owns 251,470 shares of the financial services provider’s stock worth $4,884,000 after purchasing an additional 242,353 shares during the period. Versant Capital Management Inc raised its stake in shares of First Horizon by 137.5% in the first quarter. Versant Capital Management Inc now owns 3,411 shares of the financial services provider’s stock worth $66,000 after buying an additional 1,975 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of First Horizon by 13.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 152,291 shares of the financial services provider’s stock valued at $3,067,000 after buying an additional 17,934 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of First Horizon during the 4th quarter valued at approximately $6,858,000. Finally, Carolinas Wealth Consulting LLC increased its holdings in First Horizon by 359.5% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 17,998 shares of the financial services provider’s stock worth $363,000 after acquiring an additional 14,081 shares in the last quarter. 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.