Beacon Capital Management LLC Has $101,000 Position in First Horizon Co. (NYSE:FHN)

Beacon Capital Management LLC cut its position in First Horizon Co. (NYSE:FHN) by 11.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,529 shares of the financial services provider’s stock after selling 851 shares during the quarter. Beacon Capital Management LLC’s holdings in First Horizon were worth $101,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. First Trust Direct Indexing L.P. increased its position in First Horizon by 6.5% during the 1st quarter. First Trust Direct Indexing L.P. now owns 12,623 shares of the financial services provider’s stock worth $194,000 after purchasing an additional 765 shares in the last quarter. Perigon Wealth Management LLC grew its holdings in First Horizon by 7.5% during the 1st quarter. Perigon Wealth Management LLC now owns 11,520 shares of the financial services provider’s stock worth $177,000 after acquiring an additional 804 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in First Horizon by 0.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 106,489 shares of the financial services provider’s stock worth $1,508,000 after acquiring an additional 900 shares during the last quarter. Yousif Capital Management LLC grew its holdings in First Horizon by 0.4% during the 4th quarter. Yousif Capital Management LLC now owns 265,607 shares of the financial services provider’s stock worth $3,761,000 after acquiring an additional 1,068 shares during the last quarter. Finally, Fortitude Family Office LLC boosted 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 last quarter. 80.28% of the stock is currently owned by institutional investors and hedge funds.

First Horizon Stock Performance

NYSE FHN traded down $0.83 during trading hours on Thursday, reaching $15.90. 4,467,507 shares of the company were exchanged, compared to its average volume of 6,895,225. First Horizon Co. has a 1 year low of $10.08 and a 1 year high of $17.46. The business’s 50 day simple moving average is $15.66 and its 200-day simple moving average is $15.03. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $8.70 billion, a P/E ratio of 11.45, a P/E/G ratio of 3.40 and a beta of 0.89.

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

First Horizon Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.60 dividend on an annualized basis and a yield of 3.77%. First Horizon’s dividend payout ratio is presently 41.96%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Wedbush reaffirmed an “outperform” rating and issued a $17.00 price objective on shares of First Horizon in a research note on Wednesday, April 10th. Stephens assumed coverage on shares of First Horizon in a research note on Thursday, May 23rd. They issued an “overweight” rating and a $19.00 price objective on the stock. JPMorgan Chase & Co. increased their target price on shares of First Horizon from $16.00 to $17.50 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. StockNews.com raised shares of First Horizon from a “sell” rating to a “hold” rating in a research note on Saturday, July 20th. Finally, Raymond James lowered shares of First Horizon from a “strong-buy” rating to an “outperform” rating and set a $18.00 target price on the stock. in a research note on Thursday, July 18th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.31.

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.