Seven Eight Capital LP Has $3.17 Million Stock Holdings in First Horizon Co. (NYSE:FHN)

Seven Eight Capital LP raised its position in First Horizon Co. (NYSE:FHN) by 30.6% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 200,672 shares of the financial services provider’s stock after buying an additional 47,057 shares during the period. Seven Eight Capital LP’s holdings in First Horizon were worth $3,165,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in FHN. Rise Advisors LLC bought a new position in shares of First Horizon in the 1st quarter valued at about $25,000. Family Firm Inc. acquired a new stake in First Horizon during the 2nd quarter worth $28,000. Fidelis Capital Partners LLC bought a new stake in shares of First Horizon during the 1st quarter valued at $28,000. Fortitude Family Office LLC lifted its stake in shares of First Horizon by 129.3% in the 1st quarter. Fortitude Family Office LLC now owns 1,954 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 1,102 shares during the period. Finally, Industrial Alliance Investment Management Inc. bought a new position in shares of First Horizon in the 2nd quarter worth $31,000. 80.28% of the stock is owned by institutional investors and hedge funds.

First Horizon Trading Down 0.1 %

First Horizon stock opened at $15.78 on Wednesday. The company has a market cap of $8.63 billion, a price-to-earnings ratio of 11.03, a P/E/G ratio of 3.09 and a beta of 0.88. The firm has a 50-day moving average of $15.98 and a 200-day moving average of $15.42. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. First Horizon Co. has a one year low of $10.08 and a one year high of $17.46.

First Horizon (NYSE:FHN) last issued 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 company 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 period last year, the company posted $0.39 earnings per share. On average, equities analysts expect that First Horizon Co. will post 1.46 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.80%. The ex-dividend date is Friday, September 13th. First Horizon’s dividend payout ratio (DPR) is currently 41.96%.

Analyst Ratings Changes

FHN has been the subject of a number of recent analyst reports. Stephens assumed coverage on First Horizon in a report on Thursday, May 23rd. They issued an “overweight” rating and a $19.00 price objective for the company. Robert W. Baird reissued a “neutral” rating and issued a $16.00 target price on shares of First Horizon in a research note on Tuesday, August 6th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $18.00 price target on shares of First Horizon in a research report on Wednesday, July 17th. Evercore ISI decreased their price objective on First Horizon from $19.50 to $18.50 and set an “outperform” rating for the company in a research report on Tuesday. Finally, Barclays increased their target price on First Horizon from $18.00 to $19.00 and gave the stock an “overweight” rating in a research note on Monday, June 24th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, First Horizon has an average rating of “Moderate Buy” and an average target price of $17.38.

First Horizon 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.