Evergreen Capital Management LLC Makes New Investment in First Horizon Co. (NYSE:FHN)

Evergreen Capital Management LLC bought a new stake in First Horizon Co. (NYSE:FHN) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 13,321 shares of the financial services provider’s stock, valued at approximately $212,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Sei Investments Co. increased its position in shares of First Horizon by 57.6% during the 1st quarter. Sei Investments Co. now owns 426,792 shares of the financial services provider’s stock valued at $6,573,000 after purchasing an additional 155,982 shares during the last quarter. LSV Asset Management raised its position in First Horizon by 49.8% in the first quarter. LSV Asset Management now owns 13,333,738 shares of the financial services provider’s stock worth $205,340,000 after acquiring an additional 4,434,929 shares during the period. Greenlight Capital Inc. boosted its stake in First Horizon by 6.2% in the fourth quarter. Greenlight Capital Inc. now owns 1,377,090 shares of the financial services provider’s stock valued at $19,500,000 after acquiring an additional 80,070 shares during the last quarter. Point72 Europe London LLP purchased a new position in First Horizon in the fourth quarter valued at about $6,785,000. Finally, Greenwood Capital Associates LLC grew its position in shares of First Horizon by 26.1% during the 4th quarter. Greenwood Capital Associates LLC now owns 362,656 shares of the financial services provider’s stock valued at $5,135,000 after acquiring an additional 75,041 shares during the period. 80.28% of the stock is owned by hedge funds and other institutional investors.

First Horizon Stock Performance

NYSE:FHN opened at $15.51 on Friday. The stock has a market cap of $8.48 billion, a P/E ratio of 10.85, a PEG ratio of 3.17 and a beta of 0.88. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. The business’s 50-day moving average price is $15.84 and its two-hundred day moving average price is $15.47. First Horizon Co. has a twelve month low of $10.08 and a twelve month high of $17.46.

First Horizon (NYSE:FHN) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $819.82 million. First Horizon had a net margin of 14.03% and a return on equity of 8.84%. During the same quarter in the previous year, the firm earned $0.39 earnings per share. As a group, equities analysts predict that First Horizon Co. will post 1.46 EPS for the current fiscal year.

First Horizon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a $0.15 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.60 dividend on an annualized basis and a yield of 3.87%. First Horizon’s dividend payout ratio is presently 41.96%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on FHN shares. Robert W. Baird reaffirmed a “neutral” rating and issued a $16.00 price target on shares of First Horizon in a report on Tuesday, August 6th. Wedbush lowered First Horizon from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $20.00 to $17.00 in a research note on Tuesday, September 24th. StockNews.com upgraded First Horizon from a “sell” rating to a “hold” rating in a research note on Saturday, July 20th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $18.00 price objective on shares of First Horizon in a research note on Wednesday, July 17th. Finally, Jefferies Financial Group lifted their target price on shares of First Horizon from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.38.

First Horizon Company Profile

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.