Treasurer of the State of North Carolina Acquires 2,410 Shares of First Horizon Co. (NYSE:FHN)

Treasurer of the State of North Carolina grew its stake in shares of First Horizon Co. (NYSE:FHNFree Report) by 1.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 246,551 shares of the financial services provider’s stock after buying an additional 2,410 shares during the period. Treasurer of the State of North Carolina’s holdings in First Horizon were worth $3,491,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Byrne Asset Management LLC purchased a new stake in First Horizon in the 4th quarter worth $40,000. Covestor Ltd lifted its position in shares of First Horizon by 268.5% in the third quarter. Covestor Ltd now owns 5,034 shares of the financial services provider’s stock worth $55,000 after buying an additional 3,668 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of First Horizon in the fourth quarter worth about $56,000. Spire Wealth Management grew its holdings in First Horizon by 57.3% during the 3rd quarter. Spire Wealth Management now owns 5,244 shares of the financial services provider’s stock valued at $58,000 after buying an additional 1,910 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in First Horizon by 59.7% during the 4th quarter. Fifth Third Bancorp now owns 4,805 shares of the financial services provider’s stock valued at $68,000 after buying an additional 1,797 shares in the last quarter. Hedge funds and other institutional investors own 80.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FHN. Evercore ISI increased their target price on First Horizon from $17.00 to $17.50 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Royal Bank of Canada upgraded shares of First Horizon from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $16.00 to $18.00 in a research report on Tuesday, April 9th. Barclays began coverage on shares of First Horizon in a research note on Friday, March 8th. They issued an “overweight” rating and a $18.00 price objective for the company. StockNews.com downgraded shares of First Horizon from a “hold” rating to a “sell” rating in a report on Tuesday, May 21st. Finally, Robert W. Baird lifted their price target on First Horizon from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $16.36.

Get Our Latest Stock Report on First Horizon

First Horizon Trading Down 2.1 %

FHN stock opened at $15.38 on Wednesday. The company has a market capitalization of $8.41 billion, a PE ratio of 10.76, a P/E/G ratio of 2.12 and a beta of 0.91. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.95. First Horizon Co. has a 12 month low of $10.08 and a 12 month high of $16.28. The firm’s 50-day moving average is $15.26 and its 200 day moving average is $14.43.

First Horizon (NYSE:FHNGet Free Report) last posted its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. The firm had revenue of $819.00 million during the quarter, compared to the consensus estimate of $809.51 million. First Horizon had a net margin of 16.07% and a return on equity of 8.96%. The company’s revenue was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.46 earnings per share. On average, research analysts anticipate that First Horizon Co. will post 1.5 EPS for the current year.

First Horizon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend is Friday, June 14th. First Horizon’s payout ratio is 41.96%.

First Horizon 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.

See Also

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

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