First Horizon (NYSE:FHN) Coverage Initiated at Jefferies Financial Group

Jefferies Financial Group began coverage on shares of First Horizon (NYSE:FHN) in a report issued on Wednesday,Benzinga reports. The firm set a “buy” rating and a $25.00 price target on the financial services provider’s stock. Jefferies Financial Group’s target price suggests a potential upside of 24.44% from the company’s current price.

FHN has been the subject of several other research reports. StockNews.com upgraded First Horizon from a “sell” rating to a “hold” rating in a research report on Monday, May 12th. Royal Bank of Canada dropped their price objective on First Horizon from $24.00 to $22.00 and set an “outperform” rating for the company in a report on Thursday, April 17th. Truist Financial assumed coverage on shares of First Horizon in a research report on Tuesday, May 13th. They set a “hold” rating and a $21.00 target price on the stock. Raymond James lowered their target price on shares of First Horizon from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Wednesday, April 2nd. Finally, Citigroup boosted their price target on First Horizon from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $22.41.

First Horizon Trading Down 1.1%

FHN opened at $20.09 on Wednesday. The stock has a 50-day moving average of $18.47 and a 200 day moving average of $19.85. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. First Horizon has a 12 month low of $14.09 and a 12 month high of $22.44. The firm has a market cap of $10.19 billion, a P/E ratio of 14.77, a P/E/G ratio of 1.19 and a beta of 0.59.

First Horizon (NYSE:FHN) last released its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.02. The company had revenue of $823.69 million for the quarter, compared to analyst estimates of $825.11 million. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. During the same quarter in the prior year, the firm posted $0.35 EPS. As a group, research analysts forecast that First Horizon will post 1.67 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp purchased a new stake in First Horizon during the 4th quarter valued at approximately $30,000. Byrne Asset Management LLC increased its position in shares of First Horizon by 115.3% in the first quarter. Byrne Asset Management LLC now owns 1,550 shares of the financial services provider’s stock valued at $30,000 after buying an additional 830 shares in the last quarter. Kentucky Trust Co acquired a new stake in shares of First Horizon in the fourth quarter valued at approximately $32,000. Quarry LP boosted its stake in shares of First Horizon by 129.2% during the first quarter. Quarry LP now owns 2,205 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 1,243 shares during the last quarter. Finally, Lee Danner & Bass Inc. purchased a new stake in shares of First Horizon during the fourth quarter worth about $50,000. Hedge funds and other institutional investors own 80.28% of the company’s stock.

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.