IFG Advisory LLC Has $670,000 Holdings in First Horizon Co. (NYSE:FHN)

IFG Advisory LLC decreased its position in shares of First Horizon Co. (NYSE:FHNFree Report) by 14.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,301 shares of the financial services provider’s stock after selling 7,705 shares during the period. IFG Advisory LLC’s holdings in First Horizon were worth $670,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Macroview Investment Management LLC bought a new position in First Horizon during the 3rd quarter worth $25,000. FNY Investment Advisers LLC raised its stake in First Horizon by 241.5% in the third quarter. FNY Investment Advisers LLC now owns 2,800 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 1,980 shares in the last quarter. Lazard Asset Management LLC bought a new stake in First Horizon during the second quarter worth about $31,000. FWL Investment Management LLC acquired a new stake in First Horizon during the fourth quarter worth about $39,000. Finally, Cubist Systematic Strategies LLC bought a new position in First Horizon in the 3rd quarter valued at about $39,000. Institutional investors and hedge funds own 80.28% of the company’s stock.

First Horizon Stock Up 0.5 %

FHN opened at $15.40 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.95 and a quick ratio of 0.94. The firm has a market capitalization of $8.55 billion, a P/E ratio of 10.07, a PEG ratio of 4.28 and a beta of 0.93. First Horizon Co. has a fifty-two week low of $8.99 and a fifty-two week high of $18.99. The company’s 50-day moving average is $14.43 and its 200 day moving average is $13.00.

First Horizon (NYSE:FHNGet Free Report) last issued its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. First Horizon had a return on equity of 9.94% and a net margin of 17.80%. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $784.20 million. During the same period last year, the company posted $0.51 earnings per share. Research analysts expect that First Horizon Co. will post 1.42 earnings per share for the current fiscal year.

First Horizon declared that its board has authorized a share buyback plan on Tuesday, January 23rd that authorizes the company to buyback $650.00 million in shares. This buyback authorization authorizes the financial services provider to repurchase up to 7.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

First Horizon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 15th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date is Thursday, March 14th. First Horizon’s dividend payout ratio (DPR) is currently 39.22%.

Analyst Ratings Changes

A number of research analysts have issued reports on FHN shares. Wells Fargo & Company lifted their target price on First Horizon from $11.50 to $14.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 6th. Citigroup began coverage on shares of First Horizon in a research report on Friday, December 1st. They set a “buy” rating and a $14.00 price objective for the company. Royal Bank of Canada restated a “sector perform” rating and issued a $16.00 target price on shares of First Horizon in a research report on Friday, January 19th. StockNews.com cut First Horizon from a “hold” rating to a “sell” rating in a research note on Wednesday, February 7th. Finally, UBS Group upgraded First Horizon from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $15.50 to $16.00 in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $14.92.

Get Our Latest Analysis on FHN

First Horizon Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for First Horizon (NYSE:FHN)

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