CapWealth Advisors LLC Decreases Position in First Horizon Co. (NYSE:FHN)

CapWealth Advisors LLC decreased its holdings in shares of First Horizon Co. (NYSE:FHN) by 24.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,986 shares of the financial services provider’s stock after selling 4,297 shares during the quarter. CapWealth Advisors LLC’s holdings in First Horizon were worth $205,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. increased its stake in First Horizon by 388.5% in the fourth quarter. Victory Capital Management Inc. now owns 476,145 shares of the financial services provider’s stock worth $6,742,000 after purchasing an additional 378,667 shares during the period. Swiss National Bank purchased a new position in First Horizon in the 4th quarter worth about $15,592,000. Natixis Advisors L.P. lifted its holdings in First Horizon by 30.2% during the 4th quarter. Natixis Advisors L.P. now owns 278,830 shares of the financial services provider’s stock valued at $3,948,000 after buying an additional 64,749 shares in the last quarter. National Bank of Canada FI boosted its position in First Horizon by 345.9% in the 4th quarter. National Bank of Canada FI now owns 668,411 shares of the financial services provider’s stock valued at $9,659,000 after buying an additional 518,507 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in First Horizon by 5.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,663,138 shares of the financial services provider’s stock worth $51,870,000 after acquiring an additional 204,199 shares in the last quarter. Institutional investors own 80.28% of the company’s stock.

Analyst Ratings Changes

FHN has been the subject of several research analyst reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $18.00 price target on shares of First Horizon in a research note on Wednesday, July 17th. Royal Bank of Canada raised their price target on First Horizon from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Raymond James downgraded First Horizon from a “strong-buy” rating to an “outperform” rating and set a $18.00 price objective for the company. in a report on Thursday, July 18th. StockNews.com upgraded shares of First Horizon from a “sell” rating to a “hold” rating in a report on Saturday, July 20th. Finally, Barclays boosted their target price on shares of First Horizon from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Monday, June 24th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $17.31.

First Horizon Trading Down 1.6 %

Shares of First Horizon stock opened at $15.72 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a fifty day moving average price of $15.98 and a 200 day moving average price of $15.32. First Horizon Co. has a 1 year low of $10.08 and a 1 year high of $17.46. The stock has a market cap of $8.60 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 3.36 and a beta of 0.89.

First Horizon (NYSE:FHN) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $819.82 million. First Horizon had a net margin of 14.03% and a return on equity of 8.84%. During the same quarter in the prior year, the business posted $0.39 EPS. Equities research analysts predict that First Horizon Co. will post 1.46 earnings per share for the current year.

First Horizon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, September 13th. This represents a $0.60 annualized dividend and a yield of 3.82%. First Horizon’s dividend payout ratio is presently 41.96%.

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.