First Horizon (NYSE:FHN) Rating Lowered to Strong Sell at Autonomous Res

First Horizon (NYSE:FHN) was downgraded by Autonomous Res from a “strong-buy” rating to a “strong sell” rating in a report issued on Wednesday,Zacks.com reports.

Other research analysts have also issued reports about the stock. UBS Group lowered shares of First Horizon from a “buy” rating to a “neutral” rating and reduced their price target for the company from $29.00 to $25.00 in a research report on Tuesday, April 7th. JPMorgan Chase & Co. reduced their price target on shares of First Horizon from $28.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, April 1st. TD Cowen upped their target price on shares of First Horizon from $26.00 to $27.00 and gave the stock a “hold” rating in a research report on Friday, January 16th. The Goldman Sachs Group set a $27.00 target price on shares of First Horizon and gave the stock a “neutral” rating in a research report on Tuesday, January 6th. Finally, Citigroup upped their target price on shares of First Horizon from $28.00 to $28.50 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. Nine research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $26.45.

First Horizon Price Performance

Shares of FHN traded down $0.07 during mid-day trading on Wednesday, reaching $24.89. 3,068,205 shares of the stock traded hands, compared to its average volume of 5,024,816. The firm has a fifty day moving average price of $23.46 and a 200 day moving average price of $23.29. The company has a market cap of $11.89 billion, a price-to-earnings ratio of 12.45, a price-to-earnings-growth ratio of 0.97 and a beta of 0.62. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.15. First Horizon has a 1 year low of $18.43 and a 1 year high of $26.56.

First Horizon (NYSE:FHN) last released its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. The firm had revenue of $865.00 million during the quarter, compared to analyst estimates of $869.49 million. First Horizon had a net margin of 20.54% and a return on equity of 11.65%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.42 EPS. As a group, equities research analysts predict that First Horizon will post 2.16 earnings per share for the current year.

Institutional Trading of First Horizon

Several institutional investors have recently added to or reduced their stakes in FHN. Norges Bank purchased a new stake in First Horizon during the fourth quarter valued at about $153,942,000. Artemis Investment Management LLP purchased a new stake in First Horizon during the fourth quarter valued at about $90,319,000. Jupiter Asset Management Ltd. purchased a new stake in First Horizon during the third quarter valued at about $49,180,000. Cullen Capital Management LLC boosted its position in First Horizon by 3,401.0% during the fourth quarter. Cullen Capital Management LLC now owns 2,030,457 shares of the financial services provider’s stock valued at $48,528,000 after buying an additional 1,972,461 shares during the period. Finally, HRT Financial LP purchased a new stake in First Horizon during the fourth quarter valued at about $42,600,000. 80.28% of the stock is currently owned by hedge funds and other institutional investors.

First Horizon Company Profile

First Horizon Corporation, headquartered in Memphis, Tennessee, is a diversified financial services company providing an array of retail, commercial and wealth management solutions. As the largest bank-based financial services firm in Tennessee, First Horizon operates through a network of branches and digital platforms across the Southeastern United States, offering personal and business banking, mortgage origination and servicing, payment solutions and treasury management services.

Tracing its origins to the First National Bank of Memphis established in 1864, First Horizon has grown through strategic acquisitions and organic expansion to serve customers in Tennessee, Texas, North Carolina, South Carolina, Georgia and Florida.