Black Maple Capital Management LP bought a new stake in First Horizon Co. (NYSE:FHN – Free Report) 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 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.
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