Focus Partners Wealth Buys 2,972 Shares of First Horizon Co. (NYSE:FHN)

Focus Partners Wealth lifted its holdings in shares of First Horizon Co. (NYSE:FHN) by 6.9% during the 4th quarter, Holdings Channel reports. The firm owned 45,894 shares of the financial services provider’s stock after purchasing an additional 2,972 shares during the period. Focus Partners Wealth’s holdings in First Horizon were worth $924,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Expect Equity LLC bought a new position in shares of First Horizon during the fourth quarter worth approximately $3,324,000. Fiduciary Trust Co acquired a new stake in shares of First Horizon during the 4th quarter worth approximately $308,000. Crestline Management LP boosted its position in shares of First Horizon by 213.7% during the 4th quarter. Crestline Management LP now owns 139,626 shares of the financial services provider’s stock worth $2,812,000 after acquiring an additional 95,117 shares in the last quarter. Brevan Howard Capital Management LP acquired a new stake in shares of First Horizon during the 4th quarter worth approximately $2,945,000. Finally, Cary Street Partners Financial LLC acquired a new stake in shares of First Horizon during the 4th quarter worth approximately $374,000. 80.28% of the stock is owned by institutional investors.

First Horizon Trading Up 0.5%

NYSE:FHN opened at $20.36 on Monday. 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 firm has a 50-day moving average of $18.40 and a 200-day moving average of $19.83. The company has a market cap of $10.32 billion, a PE ratio of 14.97, a PEG ratio of 1.19 and a beta of 0.59. First Horizon Co. has a one year low of $14.09 and a one year high of $22.44.

First Horizon (NYSE:FHN) last released its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.02. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. The business 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 company earned $0.35 earnings per share. As a group, equities research analysts expect that First Horizon Co. will post 1.67 EPS for the current fiscal year.

First Horizon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend is Friday, June 13th. First Horizon’s dividend payout ratio is presently 41.67%.

Wall Street Analysts Forecast Growth

FHN has been the topic of a number of research analyst reports. Royal Bank of Canada cut their target price on shares of First Horizon from $24.00 to $22.00 and set an “outperform” rating on the stock in a research report on Thursday, April 17th. Truist Financial initiated coverage on shares of First Horizon in a research report on Tuesday, May 13th. They issued a “hold” rating and a $21.00 target price on the stock. Baird R W upgraded shares of First Horizon from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 7th. Robert W. Baird raised shares of First Horizon from a “neutral” rating to an “outperform” rating and set a $22.00 price target for the company in a research note on Monday, April 7th. Finally, Wells Fargo & Company dropped their price target on shares of First Horizon from $22.00 to $20.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 9th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, First Horizon presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.97.

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.