Black Maple Capital Management LP Acquires Shares of 10,000 First Horizon Co. (NYSE:FHN)

Black Maple Capital Management LP bought a new stake in First Horizon Co. (NYSE:FHN) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 10,000 shares of the financial services provider’s stock, valued at approximately $178,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. BOKF NA bought a new position in First Horizon in the 1st quarter valued at approximately $30,000. Grey Fox Wealth Advisors LLC bought a new position in shares of First Horizon in the 1st quarter valued at $34,000. FWL Investment Management LLC acquired a new stake in shares of First Horizon during the 4th quarter valued at $39,000. Cubist Systematic Strategies LLC bought a new stake in First Horizon during the 3rd quarter worth $39,000. Finally, Compass Wealth Management LLC acquired a new position in First Horizon in the 4th quarter worth about $49,000. Institutional investors own 76.44% of the company’s stock.

First Horizon Stock Performance

NYSE:FHN opened at $11.78 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.14. First Horizon Co. has a twelve month low of $8.99 and a twelve month high of $24.92. The company has a fifty day moving average of $12.71 and a 200-day moving average of $14.14. The firm has a market capitalization of $6.58 billion, a P/E ratio of 6.23, a P/E/G ratio of 3.23 and a beta of 0.95.

First Horizon (NYSE:FHN) last announced its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. First Horizon had a net margin of 24.64% and a return on equity of 13.44%. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $820.19 million. During the same quarter in the prior year, the business earned $0.34 earnings per share. As a group, sell-side analysts anticipate that First Horizon Co. will post 1.49 EPS for the current year.

First Horizon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be issued a dividend of $0.15 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.60 annualized dividend and a dividend yield of 5.09%. First Horizon’s dividend payout ratio is 31.75%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on FHN shares. Robert W. Baird initiated coverage on First Horizon in a research note on Tuesday, July 18th. They set a “neutral” rating and a $14.00 price target on the stock. Bank of America dropped their price target on shares of First Horizon from $14.00 to $13.00 in a research note on Thursday, June 8th. Raymond James raised shares of First Horizon from a “market perform” rating to an “outperform” rating and set a $13.00 price objective on the stock in a research note on Thursday, July 6th. Royal Bank of Canada raised their target price on First Horizon from $13.00 to $14.00 in a research report on Thursday, July 20th. Finally, The Goldman Sachs Group assumed coverage on First Horizon in a research report on Wednesday, June 28th. They issued a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $15.42.

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.