UBS Group Begins Coverage on First Horizon (NYSE:FHN)

Analysts at UBS Group assumed coverage on shares of First Horizon (NYSE:FHN - Get Free Report) in a report released on Tuesday, Marketbeat.com reports. The firm set a "buy" rating and a $25.00 price target on the financial services provider's stock. UBS Group's target price would suggest a potential upside of 25.34% from the stock's current price.

FHN has been the subject of a number of other reports. Barclays raised their price objective on First Horizon from $21.00 to $23.00 and gave the stock an "overweight" rating in a research report on Friday, November 8th. The Goldman Sachs Group raised their price target on shares of First Horizon from $18.50 to $23.00 and gave the stock a "neutral" rating in a report on Tuesday, November 26th. Wells Fargo & Company upped their price objective on shares of First Horizon from $18.00 to $21.00 and gave the company an "equal weight" rating in a research note on Tuesday, December 3rd. Wedbush lowered shares of First Horizon from an "outperform" rating to a "neutral" rating and decreased their target price for the company from $20.00 to $17.00 in a research note on Tuesday, September 24th. Finally, Raymond James upped their price target on shares of First Horizon from $19.00 to $22.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.38.

First Horizon Trading Down 1.7 %

NYSE FHN traded down $0.36 on Tuesday, hitting $19.95. 4,767,977 shares of the company were exchanged, compared to its average volume of 6,544,561. First Horizon has a twelve month low of $12.95 and a twelve month high of $21.72. The company's 50 day moving average price is $19.06 and its 200-day moving average price is $16.84. The firm has a market capitalization of $10.57 billion, a P/E ratio of 14.45, a price-to-earnings-growth ratio of 1.54 and a beta of 0.91. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95.

First Horizon (NYSE:FHN - Get Free Report) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $0.42 EPS for the quarter, beating the consensus estimate of $0.38 by $0.04. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $821.63 million. First Horizon had a net margin of 15.43% and a return on equity of 9.51%. During the same quarter in the prior year, the firm earned $0.27 EPS. Analysts predict that First Horizon will post 1.49 earnings per share for the current fiscal year.

First Horizon announced that its board has initiated a stock buyback program on Tuesday, October 29th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 10.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.

Insider Activity at First Horizon

In other First Horizon news, Director Harry V. Barton, Jr. sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $19.92, for a total value of $199,200.00. Following the sale, the director now owns 166,840 shares of the company's stock, valued at $3,323,452.80. This trade represents a 5.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP David T. Popwell sold 100,974 shares of the firm's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $19.77, for a total transaction of $1,996,255.98. Following the completion of the sale, the executive vice president now owns 519,926 shares in the company, valued at $10,278,937.02. This represents a 16.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.87% of the stock is currently owned by company insiders.

Institutional Trading of First Horizon

A number of hedge funds have recently modified their holdings of the company. Franklin Resources Inc. lifted its position in First Horizon by 552.9% in the third quarter. Franklin Resources Inc. now owns 273,693 shares of the financial services provider's stock worth $4,502,000 after purchasing an additional 231,773 shares during the period. Tidal Investments LLC raised its stake in shares of First Horizon by 5.9% in the 3rd quarter. Tidal Investments LLC now owns 66,623 shares of the financial services provider's stock valued at $1,035,000 after buying an additional 3,722 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of First Horizon during the 3rd quarter worth about $127,000. Sanctuary Advisors LLC boosted its position in shares of First Horizon by 16.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 24,637 shares of the financial services provider's stock valued at $383,000 after acquiring an additional 3,540 shares in the last quarter. Finally, Virtu Financial LLC boosted its position in shares of First Horizon by 227.0% during the 3rd quarter. Virtu Financial LLC now owns 33,423 shares of the financial services provider's stock valued at $519,000 after acquiring an additional 23,203 shares in the last quarter. 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.