RBC Capital Remains a Hold on First Horizon (FHN)


RBC Capital analyst Jon Arfstrom maintained a Hold rating on First Horizon (FHN) today and set a price target of $9.00. The company’s shares closed last Wednesday at $8.13.

According to TipRanks.com, Arfstrom is a 4-star analyst with an average return of 6.9% and a 49.2% success rate. Arfstrom covers the Financial sector, focusing on stocks such as Zions Bancorporation National Association, Old National Bancorp Capital, and Discover Financial Services.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for First Horizon with a $11.94 average price target.

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First Horizon’s market cap is currently $2.39B and has a P/E ratio of 5.70. The company has a Price to Book ratio of 0.79.

Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FHN in relation to earlier this year. Most recently, in February 2020, David Popwell, the President-Banking of FHN sold 47,790 shares for a total of $780,889.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

First Horizon National Corp. operates as a financial holding company, which offers checking accounts, savings products, mortgage banking, lending, and financing to individuals and businesses. It operates the business through four segments: Regional Banking, Fixed Income, Corporate, and Non-strategic. The Regional Banking segment offers financial products and services, including traditional lending and deposit taking, to retail and commercial customers. The Fixed Income segment provides financial services for depository and non depository institutions through the sale and distribution of fixed income securities, loan sales, portfolio advisory services, and derivative sales. The Corporate segment consists of unallocated corporate expenses, expense on subordinated debt issuances, bank owned life insurance, unallocated interest income associated with excess equity, net impact of raising incremental capital, revenue and expense associated with deferred compensation plans, funds management, tax credit investment activities, gains on the extinguishment of debt, acquisition-related costs, and various charges related to restructuring and repositioning. The Non-strategic segment includes wind down national consumer lending activities, loan portfolios, service lines and other discontinued products. The company was founded by Frank S. Davis in 1864 and is headquartered in Memphis, TN.

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