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

First Horizon (NYSE:FHN - Get Free Report) was upgraded by equities researchers at Robert W. Baird from a "neutral" rating to an "outperform" rating in a report released on Monday, Marketbeat reports. The brokerage presently has a $22.00 price target on the financial services provider's stock. Robert W. Baird's price objective points to a potential upside of 30.01% from the company's previous close.

Several other research analysts have also weighed in on FHN. Bank of America boosted their price objective on shares of First Horizon from $23.00 to $25.00 and gave the stock a "buy" rating in a research note on Friday, January 17th. 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 note on Friday, January 17th. Stephens reiterated an "overweight" rating and set a $24.00 target price on shares of First Horizon in a research note on Friday, January 17th. Keefe, Bruyette & Woods increased their price target on 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, Royal Bank of Canada lifted their price objective on shares of First Horizon from $22.00 to $23.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 11th. Six investment 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's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.30.

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First Horizon Stock Down 0.1 %

Shares of NYSE:FHN traded down $0.02 during midday trading on Monday, reaching $16.92. The company had a trading volume of 6,616,534 shares, compared to its average volume of 6,304,523. The business's 50 day moving average price is $19.72 and its 200 day moving average price is $19.46. First Horizon has a 1-year low of $13.72 and a 1-year high of $22.44. 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 $8.70 billion, a PE ratio of 12.44, a P/E/G ratio of 1.19 and a beta of 0.60.

First Horizon (NYSE:FHN - Get Free Report) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (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 quarter in the previous year, the company posted $0.32 EPS. Research analysts forecast that First Horizon will post 1.67 EPS for the current fiscal year.

Insider Transactions at First Horizon

In other news, CEO D Bryan Jordan sold 109,980 shares of the business's 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 completion of the transaction, the chief executive officer now owns 1,861,381 shares of the company's stock, valued at approximately $39,330,980.53. The trade was a 5.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.87% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc boosted its stake in shares of First Horizon by 160.1% in the 4th quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 884 shares in the last quarter. Jones Financial Companies Lllp bought a new position in First Horizon in the 4th quarter valued at approximately $30,000. Kentucky Trust Co acquired a new stake in First Horizon in the fourth quarter valued at approximately $32,000. Lee Danner & Bass Inc. bought a new stake in shares of First Horizon during the fourth quarter worth $50,000. Finally, Farther Finance Advisors LLC increased its holdings in shares of First Horizon by 29.9% during the fourth quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider's stock worth $52,000 after buying an additional 591 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.