UMB Bank n.a. Grows Stock Holdings in First Horizon Co. (NYSE:FHN)

UMB Bank n.a. lifted its position in First Horizon Co. (NYSE:FHN) by 143.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,716 shares of the financial services provider’s stock after buying an additional 3,958 shares during the quarter. UMB Bank n.a.’s holdings in First Horizon were worth $130,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jones Financial Companies Lllp purchased a new stake in First Horizon during the fourth quarter worth about $30,000. Kentucky Trust Co purchased a new stake in First Horizon during the 4th quarter worth approximately $32,000. Lee Danner & Bass Inc. purchased a new stake in First Horizon during the 4th quarter worth approximately $50,000. Farther Finance Advisors LLC lifted its holdings in First Horizon by 29.9% during the 4th quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider’s stock worth $52,000 after buying an additional 591 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in First Horizon by 137.5% in the 1st quarter. Versant Capital Management Inc now owns 3,411 shares of the financial services provider’s stock valued at $66,000 after buying an additional 1,975 shares during the period. Hedge funds and other institutional investors own 80.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on FHN shares. Wall Street Zen raised First Horizon from a “sell” rating to a “hold” rating in a research report on Monday, May 12th. Raymond James lowered their target price on First Horizon from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Wednesday, April 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $24.00 price target (up previously from $22.00) on shares of First Horizon in a research report on Monday. Jefferies Financial Group initiated coverage on First Horizon in a research note on Wednesday, May 21st. They issued a “buy” rating and a $25.00 price objective for the company. Finally, Baird R W upgraded shares of First Horizon from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 7th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, First Horizon currently has an average rating of “Moderate Buy” and a consensus target price of $22.53.

First Horizon Stock Down 1.4%

FHN stock opened at $19.99 on Thursday. The stock has a market cap of $10.14 billion, a P/E ratio of 14.70, a PEG ratio of 1.19 and a beta of 0.61. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. First Horizon Co. has a twelve month low of $14.09 and a twelve month high of $22.44. The company’s 50 day moving average is $18.79 and its two-hundred day moving average is $19.88.

First Horizon (NYSE:FHN) last announced its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.42 EPS 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 firm had revenue of $823.69 million for the quarter, compared to analyst estimates of $825.11 million. During the same period last year, the business earned $0.35 EPS. Research analysts expect that First Horizon Co. will post 1.67 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date is Friday, June 13th. First Horizon’s dividend payout ratio (DPR) is currently 41.67%.

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.