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Wedbush Downgrades First Horizon (FHN) to Hold

First Horizon (FHNResearch Report) received a Hold rating and a $25.00 price target from Wedbush analyst Peter Winter today. The company’s shares closed last Monday at $23.51.

According to TipRanks.com, Winter is a 4-star analyst with an average return of 8.8% and a 52.7% success rate. Winter covers the Financial sector, focusing on stocks such as Zions Bancorporation National Association, Texas Capital Bancshares, and Huntington Bancshares.

First Horizon has an analyst consensus of Moderate Buy, with a price target consensus of $20.56.

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First Horizon’s market cap is currently $9.75B and has a P/E ratio of 10.48.

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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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