Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in First Horizon Co. (NYSE:FHN – Free Report) by 12.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 602,093 shares of the financial services provider’s stock after buying an additional 65,524 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.11% of First Horizon worth $10,705,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the business. North Reef Capital Management LP purchased a new stake in shares of First Horizon in the first quarter valued at approximately $14,224,000. Portland Investment Counsel Inc. purchased a new stake in shares of First Horizon in the first quarter valued at approximately $16,690,000. Quinn Opportunity Partners LLC boosted its stake in shares of First Horizon by 27.1% in the first quarter. Quinn Opportunity Partners LLC now owns 52,698 shares of the financial services provider’s stock valued at $937,000 after buying an additional 11,248 shares in the last quarter. rhino investment partners Inc boosted its position in First Horizon by 2,712.3% during the first quarter. rhino investment partners Inc now owns 1,588,932 shares of the financial services provider’s stock worth $28,251,000 after purchasing an additional 1,532,432 shares in the last quarter. Finally, First Trust Capital Management L.P. boosted its position in First Horizon by 1,877.5% during the first quarter. First Trust Capital Management L.P. now owns 2,889,299 shares of the financial services provider’s stock worth $51,372,000 after purchasing an additional 2,743,189 shares in the last quarter. 76.44% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have commented on FHN. JPMorgan Chase & Co. boosted their target price on First Horizon from $13.00 to $13.50 in a research report on Thursday, June 29th. Robert W. Baird began coverage on First Horizon in a research report on Tuesday, July 18th. They set a “neutral” rating and a $14.00 target price on the stock. SpectralCast reiterated a “reinstates” rating on shares of First Horizon in a research report on Wednesday, June 28th. Royal Bank of Canada boosted their price target on First Horizon from $13.00 to $14.00 in a report on Thursday, July 20th. Finally, StockNews.com began coverage on First Horizon in a report on Thursday, August 17th. They issued a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, First Horizon currently has an average rating of “Hold” and an average target price of $15.42.
First Horizon Stock Performance
First Horizon stock opened at $11.83 on Monday. The firm has a market capitalization of $6.61 billion, a P/E ratio of 6.26, a PEG ratio of 3.23 and a beta of 0.95. The stock has a fifty day moving average price of $12.71 and a 200 day moving average price of $14.23. First Horizon Co. has a 52 week low of $8.99 and a 52 week high of $24.92. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.14.
First Horizon (NYSE:FHN – Get Free Report) last released its earnings results on Wednesday, July 19th. The financial services provider reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $820.19 million. First Horizon had a return on equity of 13.44% and a net margin of 24.64%. During the same period in the prior year, the firm posted $0.34 earnings per share. Equities research analysts anticipate that First Horizon Co. will post 1.49 earnings per share for the current year.
First Horizon Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be paid a dividend of $0.15 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.60 annualized dividend and a yield of 5.07%. First Horizon’s dividend payout ratio is presently 31.75%.
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 three segments: Regional Banking, Specialty Banking, and Corporate. It offers general banking services for consumers, businesses, financial institutions, and governments.
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