Knights of Columbus Asset Advisors LLC lifted its holdings in First Horizon Co. (NYSE:FHN) by 1.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 312,762 shares of the financial services provider’s stock after purchasing an additional 5,884 shares during the quarter. Knights of Columbus Asset Advisors LLC owned 0.06% of First Horizon worth $5,405,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Ameritas Investment Company LLC bought a new position in shares of First Horizon in the first quarter worth $33,000. AGF Investments LLC boosted its stake in First Horizon by 87.6% during the first quarter. AGF Investments LLC now owns 2,502 shares of the financial services provider’s stock valued at $42,000 after buying an additional 1,168 shares in the last quarter. TD Capital Management LLC boosted its stake in First Horizon by 51.9% during the first quarter. TD Capital Management LLC now owns 3,122 shares of the financial services provider’s stock valued at $53,000 after buying an additional 1,067 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in First Horizon by 130.0% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 6,899 shares of the financial services provider’s stock valued at $117,000 after buying an additional 3,899 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its stake in First Horizon by 33.2% during the first quarter. Geneos Wealth Management Inc. now owns 7,215 shares of the financial services provider’s stock valued at $131,000 after buying an additional 1,800 shares in the last quarter. 80.94% of the stock is owned by institutional investors.
Several equities research analysts recently issued reports on the company. Raymond James assumed coverage on First Horizon in a research note on Friday, July 16th. They issued a “buy” rating and a $20.00 price objective for the company. UBS Group downgraded First Horizon from a “buy” rating to a “neutral” rating and cut their price target for the stock from $20.00 to $17.00 in a research note on Wednesday, September 8th. Zacks Investment Research raised First Horizon from a “sell” rating to a “hold” rating and set a $16.00 price objective on the stock in a report on Tuesday, July 20th. Hovde Group raised First Horizon from a “market perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a report on Wednesday, June 23rd. Finally, Morgan Stanley lowered their target price on First Horizon from $21.00 to $19.50 and set an “equal weight” rating on the stock in a report on Monday, August 2nd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $17.42.
First Horizon stock opened at $16.08 on Monday. The business has a 50 day simple moving average of $15.74 and a 200 day simple moving average of $17.07. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.96 and a quick ratio of 0.95. First Horizon Co. has a one year low of $8.53 and a one year high of $19.45. The company has a market capitalization of $8.83 billion, a PE ratio of 6.99 and a beta of 1.51.
First Horizon (NYSE:FHN) last issued its quarterly earnings data on Thursday, July 15th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.15. The firm had revenue of $782.00 million during the quarter, compared to the consensus estimate of $767.63 million. First Horizon had a return on equity of 13.95% and a net margin of 33.31%. During the same quarter in the previous year, the company posted $0.20 EPS. Equities analysts anticipate that First Horizon Co. will post 1.88 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Friday, September 10th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, September 9th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.73%. First Horizon’s dividend payout ratio (DPR) is presently 49.18%.
About First Horizon
First Horizon Corp. (Tennessee) operates as a financial holding company, which engages in the provision of checking accounts, savings products, mortgage banking, lending, and financing to individuals and businesses. It operates the business through four segments: Regional Banking, Specialty Banking, and Corporate.
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