First Horizon (NYSE:FHN) Rating Increased to Outperform at Robert W. Baird

First Horizon (NYSE:FHN) was upgraded by equities researchers at Robert W. Baird from a “neutral” rating to an “outperform” rating in a report released on Monday, MarketBeat.com reports. The firm currently has a $22.00 price target on the financial services provider’s stock. Robert W. Baird’s target price would suggest a potential upside of 36.18% from the stock’s previous close.

Several other research analysts also recently weighed in on FHN. JPMorgan Chase & Co. upped their target price on shares of First Horizon from $22.50 to $23.50 and gave the stock a “neutral” rating in a report on Friday, January 17th. Barclays upped their price target on shares of First Horizon from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. StockNews.com cut shares of First Horizon from a “hold” rating to a “sell” rating in a research report on Monday, March 31st. Citigroup increased their price target on First Horizon from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, UBS Group began coverage on First Horizon in a report on Tuesday, December 17th. They issued a “buy” rating and a $25.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $22.57.

First Horizon Price Performance

Shares of First Horizon stock opened at $16.16 on Monday. First Horizon has a 12-month low of $13.72 and a 12-month high of $22.44. The firm has a market cap of $8.31 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of 1.19 and a beta of 0.60. 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 company’s fifty day simple moving average is $20.36 and its two-hundred day simple moving average is $19.45.

First Horizon (NYSE:FHN) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the company posted $0.32 EPS. As a group, equities analysts expect that First Horizon will post 1.67 EPS for the current year.

Insider Activity at First Horizon

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

Institutional Trading of First Horizon

A number of institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. raised its position in shares of First Horizon by 160.1% during the 4th quarter. JPMorgan Chase & Co. now owns 5,524,827 shares of the financial services provider’s stock worth $111,270,000 after purchasing an additional 3,400,811 shares during the last quarter. First Citizens Bank & Trust Co. purchased a new position in shares of First Horizon in the 4th quarter worth about $304,000. Merit Financial Group LLC acquired a new position in First Horizon during the fourth quarter valued at approximately $453,000. Smith Group Asset Management LLC purchased a new stake in First Horizon during the 4th quarter worth $1,813,000. Finally, Johnson Investment Counsel Inc. boosted its position in shares of First Horizon by 2.8% in the fourth quarter. Johnson Investment Counsel Inc. now owns 2,661,592 shares of the financial services provider’s stock worth $53,604,000 after buying an additional 72,339 shares during the period. 80.28% of the stock is currently owned by hedge funds and other institutional investors.

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.