First Horizon (NYSE:FHN – Get Free Report) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Thursday.
Other equities research analysts have also recently issued research reports about the company. Robert W. Baird boosted their target price on First Horizon from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, April 18th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $18.00 target price on shares of First Horizon in a report on Tuesday, June 11th. Wedbush reaffirmed an “outperform” rating and issued a $17.00 target price on shares of First Horizon in a research report on Wednesday, April 10th. Wells Fargo & Company boosted their price target on shares of First Horizon from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. raised their price objective on First Horizon from $16.00 to $17.50 and gave the company a “neutral” rating in a report on Thursday, April 4th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, First Horizon presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.15.
Get Our Latest Stock Report on FHN
First Horizon Price Performance
First Horizon (NYSE:FHN – Get Free Report) last announced its earnings results on Wednesday, April 17th. The financial services provider reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $819.00 million during the quarter, compared to analyst estimates of $809.51 million. First Horizon had a net margin of 16.07% and a return on equity of 8.96%. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.46 EPS. Analysts anticipate that First Horizon will post 1.51 earnings per share for the current fiscal year.
Hedge Funds Weigh In On First Horizon
Several institutional investors and hedge funds have recently modified their holdings of FHN. Natixis Advisors L.P. grew its stake in First Horizon by 30.2% in the 4th quarter. Natixis Advisors L.P. now owns 278,830 shares of the financial services provider’s stock valued at $3,948,000 after buying an additional 64,749 shares during the last quarter. Crestline Management LP increased its stake in shares of First Horizon by 100.8% during the fourth quarter. Crestline Management LP now owns 400,000 shares of the financial services provider’s stock worth $5,664,000 after purchasing an additional 200,846 shares during the period. Vanguard Group Inc. lifted its holdings in First Horizon by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 56,775,050 shares of the financial services provider’s stock worth $625,661,000 after purchasing an additional 2,276,977 shares during the last quarter. Lecap Asset Management Ltd. bought a new stake in First Horizon in the 4th quarter valued at $1,019,000. Finally, Greenlight Capital Inc. grew its holdings in First Horizon by 6.2% in the 4th quarter. Greenlight Capital Inc. now owns 1,377,090 shares of the financial services provider’s stock valued at $19,500,000 after buying an additional 80,070 shares in the last quarter. 80.28% of the stock is currently 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.
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