First Horizon (NYSE:FHN) Cut to Sell at StockNews.com

StockNews.com cut shares of First Horizon (NYSE:FHN) from a hold rating to a sell rating in a report issued on Monday morning.

Other equities analysts have also issued research reports about the stock. Barclays boosted their target price on shares of First Horizon from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Keefe, Bruyette & Woods increased 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. Citigroup boosted their price target on First Horizon from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, February 28th. UBS Group started coverage on First Horizon in a report on Tuesday, December 17th. They issued a “buy” rating and a $25.00 price target for the company. Finally, Wells Fargo & Company lifted their price objective on First Horizon from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.23.

First Horizon Stock Performance

NYSE:FHN opened at $19.64 on Monday. The firm has a market capitalization of $10.10 billion, a PE ratio of 14.44, a PEG ratio of 1.19 and a beta of 0.86. First Horizon has a 1 year low of $13.72 and a 1 year high of $22.44. 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’s fifty day simple moving average is $20.53 and its 200 day simple moving average is $19.41.

First Horizon (NYSE:FHN) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 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 period last year, the firm earned $0.32 EPS. On average, sell-side analysts anticipate that First Horizon will post 1.67 EPS for the current year.

First Horizon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.05%. The ex-dividend date was Friday, March 14th. First Horizon’s payout ratio is currently 44.12%.

Insider Buying and Selling

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of First Horizon stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $21.13, for a total value of $2,323,877.40. Following the completion of the transaction, the chief executive officer now owns 1,861,381 shares in the company, valued at approximately $39,330,980.53. The trade was a 5.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.87% of the stock is owned by corporate insiders.

Institutional Trading of First Horizon

Hedge funds and other institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc grew its holdings in First Horizon by 160.1% during the 4th quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 884 shares during the last quarter. Jones Financial Companies Lllp bought a new position in First Horizon in the 4th quarter worth approximately $30,000. Kentucky Trust Co acquired a new position in First Horizon during the 4th quarter worth $32,000. True Wealth Design LLC bought a new position in First Horizon in the 3rd quarter valued at $36,000. Finally, Lee Danner & Bass Inc. bought a new stake in shares of First Horizon during the fourth quarter worth $50,000. 80.28% of the stock is currently owned by institutional investors and hedge funds.

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.