First Horizon Co. (NYSE:FHN) Stock Holdings Increased by Fortitude Family Office LLC

Fortitude Family Office LLC raised its holdings in shares of First Horizon Co. (NYSE:FHN) by 129.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,954 shares of the financial services provider’s stock after buying an additional 1,102 shares during the period. Fortitude Family Office LLC’s holdings in First Horizon were worth $30,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of First Horizon by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 56,946,272 shares of the financial services provider’s stock worth $806,359,000 after acquiring an additional 171,222 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of First Horizon by 10.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,641,140 shares of the financial services provider’s stock valued at $136,526,000 after purchasing an additional 883,503 shares during the period. North Reef Capital Management LP increased its stake in First Horizon by 137.9% in the 3rd quarter. North Reef Capital Management LP now owns 8,900,000 shares of the financial services provider’s stock worth $98,078,000 after purchasing an additional 5,158,750 shares in the last quarter. LSV Asset Management raised its holdings in First Horizon by 62.2% during the 4th quarter. LSV Asset Management now owns 8,898,809 shares of the financial services provider’s stock worth $126,007,000 after buying an additional 3,411,600 shares during the period. Finally, AQR Capital Management LLC lifted its stake in First Horizon by 6,217.8% during the third quarter. AQR Capital Management LLC now owns 7,806,037 shares of the financial services provider’s stock valued at $86,023,000 after buying an additional 7,682,480 shares in the last quarter. 80.28% of the stock is currently owned by institutional investors.

First Horizon Stock Up 0.4 %

NYSE FHN traded up $0.06 during trading on Friday, hitting $14.67. 11,075,355 shares of the company traded hands, compared to its average volume of 5,801,012. First Horizon Co. has a 12 month low of $10.08 and a 12 month high of $16.28. The business has a fifty day simple moving average of $15.23 and a 200 day simple moving average of $14.61. The company has a market capitalization of $8.02 billion, a P/E ratio of 10.26, a PEG ratio of 1.97 and a beta of 0.91. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.13.

First Horizon (NYSE:FHN) last posted its earnings results on Wednesday, April 17th. The financial services provider reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. First Horizon had a return on equity of 8.96% and a net margin of 16.07%. The firm had revenue of $819.00 million during the quarter, compared to analyst estimates of $809.51 million. During the same period in the previous year, the company earned $0.46 EPS. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. As a group, sell-side analysts predict that First Horizon Co. will post 1.5 EPS for the current year.

First Horizon Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $0.15 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.09%. First Horizon’s payout ratio is presently 41.96%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on FHN shares. Royal Bank of Canada upgraded shares of First Horizon from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $16.00 to $18.00 in a report on Tuesday, April 9th. Stephens began coverage on First Horizon in a report on Thursday, May 23rd. They set an “overweight” rating and a $19.00 price target on the stock. Robert W. Baird increased their price objective on First Horizon from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, April 18th. Wedbush reaffirmed an “outperform” rating and set a $17.00 target price on shares of First Horizon in a research note on Wednesday, April 10th. Finally, Evercore ISI increased their price target on shares of First Horizon from $17.00 to $17.50 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, First Horizon has an average rating of “Moderate Buy” and a consensus price target of $16.62.

About First Horizon

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.