Southern Capital Advisors LLC Has $399,000 Position in First Horizon Co. (NYSE:FHN)

Southern Capital Advisors LLC boosted its stake in shares of First Horizon Co. (NYSE:FHN) by 76.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,676 shares of the financial services provider’s stock after buying an additional 11,088 shares during the quarter. Southern Capital Advisors LLC’s holdings in First Horizon were worth $399,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FHN. UMB Bank n.a. raised its position in shares of First Horizon by 365.0% in the 3rd quarter. UMB Bank n.a. now owns 1,688 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 1,325 shares in the last quarter. Fidelis Capital Partners LLC bought a new position in shares of First Horizon in the 1st quarter worth about $28,000. Family Firm Inc. bought a new position in shares of First Horizon in the 2nd quarter worth about $28,000. Nemes Rush Group LLC raised its position in shares of First Horizon by 306.2% in the 2nd quarter. Nemes Rush Group LLC now owns 1,828 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 1,378 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. bought a new position in shares of First Horizon in the 2nd quarter worth about $31,000. 80.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Royal Bank of Canada lifted their price objective on First Horizon from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Barclays boosted their target price on First Horizon from $19.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $18.00 target price on shares of First Horizon in a research report on Wednesday, July 17th. Evercore ISI decreased their target price on First Horizon from $18.50 to $18.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Finally, StockNews.com raised First Horizon from a “sell” rating to a “hold” rating in a research report on Saturday, July 20th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.77.

First Horizon Stock Performance

Shares of FHN opened at $17.22 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 1.84. The stock has a 50 day moving average price of $16.07 and a two-hundred day moving average price of $15.67. The firm has a market capitalization of $9.42 billion, a P/E ratio of 11.95, a P/E/G ratio of 1.30 and a beta of 0.88. First Horizon Co. has a 52 week low of $10.50 and a 52 week high of $17.68.

First Horizon (NYSE:FHN) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. First Horizon had a return on equity of 9.51% and a net margin of 15.43%. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $821.63 million. During the same quarter in the previous year, the business earned $0.27 EPS. Equities analysts forecast that First Horizon Co. will post 1.48 earnings per share for the current fiscal year.

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.