Jefferies Financial Group Begins Coverage on First Horizon (NYSE:FHN)

Equities researchers at Jefferies Financial Group assumed coverage on shares of First Horizon (NYSE:FHN) in a research report issued on Wednesday,Benzinga reports. The brokerage set a “buy” rating and a $25.00 price target on the financial services provider’s stock. Jefferies Financial Group’s price target indicates a potential upside of 24.44% from the company’s current price.

FHN has been the topic of a number of other research reports. Keefe, Bruyette & Woods reduced their target price on First Horizon from $24.00 to $22.00 and set a “market perform” rating on the stock in a report on Thursday, April 17th. Citigroup boosted their target price on shares of First Horizon from $24.00 to $25.00 and gave the company a “buy” rating in a report on Friday, February 28th. Raymond James decreased their price target on shares of First Horizon from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Wednesday, April 2nd. Bank of America lifted their price target on shares of First Horizon from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Finally, Barclays decreased their target price on shares of First Horizon from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, First Horizon presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.41.

First Horizon Stock Down 1.1%

NYSE FHN opened at $20.09 on Wednesday. First Horizon has a 1 year low of $14.09 and a 1 year high of $22.44. The stock has a market capitalization of $10.19 billion, a PE ratio of 14.77, a PEG ratio of 1.19 and a beta of 0.59. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95. The business’s 50-day moving average is $18.47 and its 200 day moving average is $19.85.

First Horizon (NYSE:FHN) last posted its earnings results on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.02. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. The firm had revenue of $823.69 million for the quarter, compared to analysts’ expectations of $825.11 million. During the same period in the previous year, the firm earned $0.35 earnings per share. Sell-side analysts forecast that First Horizon will post 1.67 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its stake in First Horizon by 26.2% during the 4th quarter. Bank of New York Mellon Corp now owns 37,131,162 shares of the financial services provider’s stock worth $747,822,000 after acquiring an additional 7,715,191 shares during the period. Millennium Management LLC boosted its holdings in First Horizon by 102.3% in the 4th quarter. Millennium Management LLC now owns 21,285,306 shares of the financial services provider’s stock worth $428,686,000 after buying an additional 10,763,349 shares during the period. Dimensional Fund Advisors LP increased its stake in First Horizon by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 19,869,403 shares of the financial services provider’s stock worth $400,173,000 after buying an additional 97,429 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of First Horizon by 53.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,594,944 shares of the financial services provider’s stock valued at $244,594,000 after acquiring an additional 4,392,405 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of First Horizon by 496.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,202,539 shares of the financial services provider’s stock worth $165,199,000 after acquiring an additional 6,827,040 shares during the period. 80.28% of the stock is owned by hedge funds and other institutional investors.

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.