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

First Horizon (NYSE:FHN - Get Free Report) was upgraded by equities research analysts at Baird R W from a "hold" rating to a "strong-buy" rating in a research report issued on Monday,Zacks.com reports.

Several other equities analysts have also weighed in on the company. StockNews.com raised First Horizon from a "sell" rating to a "hold" rating in a research note on Tuesday, April 8th. Royal Bank of Canada increased their price target on shares of First Horizon from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Wednesday, December 11th. Bank of America boosted their price objective on shares of First Horizon from $23.00 to $25.00 and gave the company a "buy" rating in a report on Friday, January 17th. Keefe, Bruyette & Woods upped their target price on shares of First Horizon from $23.00 to $24.00 and gave the company a "market perform" rating in a research note on Thursday, December 19th. Finally, Robert W. Baird raised shares of First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 price target on the stock in a research report on Monday, April 7th. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $22.30.

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First Horizon Trading Down 0.1 %

Shares of NYSE:FHN traded down $0.02 during trading on Monday, hitting $16.92. 6,616,534 shares of the company's stock were exchanged, compared to its average volume of 6,311,149. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The firm has a market cap of $8.70 billion, a P/E ratio of 12.44, a PEG ratio of 1.19 and a beta of 0.60. The firm has a 50-day moving average price of $19.72 and a two-hundred day moving average price of $19.49. First Horizon has a 1-year low of $13.72 and a 1-year high of $22.44.

First Horizon (NYSE:FHN - Get Free Report) last issued its earnings results on Thursday, January 16th. The financial services provider reported $0.43 EPS for the quarter, beating 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 previous year, the business posted $0.32 earnings per share. Equities analysts predict that First Horizon will post 1.67 earnings per share for the current year.

Insiders Place Their Bets

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the business's stock in a transaction dated 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 sale, the chief executive officer now directly owns 1,861,381 shares of the company's stock, valued at $39,330,980.53. The trade was a 5.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.87% of the company's stock.

Hedge Funds Weigh In On First Horizon

Several hedge funds have recently modified their holdings of FHN. Millennium Management LLC boosted its position in First Horizon by 102.3% during the fourth quarter. Millennium Management LLC now owns 21,285,306 shares of the financial services provider's stock valued at $428,686,000 after purchasing an additional 10,763,349 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of First Horizon by 26.2% during the 4th quarter. Bank of New York Mellon Corp now owns 37,131,162 shares of the financial services provider's stock worth $747,822,000 after purchasing an additional 7,715,191 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of First Horizon by 496.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,202,539 shares of the financial services provider's stock valued at $165,199,000 after buying an additional 6,827,040 shares during the last quarter. Norges Bank bought a new position in shares of First Horizon in the fourth quarter valued at $132,418,000. Finally, Raymond James Financial Inc. acquired a new position in First Horizon during the fourth quarter worth $102,467,000. 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.