Summit Financial Wealth Advisors LLC Has $1.44 Million Holdings in First Horizon Co. (NYSE:FHN)

Summit Financial Wealth Advisors LLC trimmed its stake in First Horizon Co. (NYSE:FHN) by 0.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 127,495 shares of the financial services provider’s stock after selling 917 shares during the period. Summit Financial Wealth Advisors LLC’s holdings in First Horizon were worth $1,437,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. State Street Corp lifted its stake in shares of First Horizon by 15.7% in the first quarter. State Street Corp now owns 23,368,182 shares of the financial services provider’s stock worth $418,736,000 after acquiring an additional 3,173,357 shares during the period. Franklin Resources Inc. boosted its stake in shares of First Horizon by 4.7% in the 1st quarter. Franklin Resources Inc. now owns 12,321,479 shares of the financial services provider’s stock valued at $219,076,000 after purchasing an additional 548,162 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of First Horizon by 11.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 11,525,265 shares of the financial services provider’s stock worth $282,369,000 after buying an additional 1,179,154 shares during the period. Soros Fund Management LLC bought a new position in First Horizon during the fourth quarter worth $209,132,000. Finally, Geode Capital Management LLC lifted its holdings in First Horizon by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 7,972,448 shares of the financial services provider’s stock valued at $195,114,000 after buying an additional 430,129 shares during the period. 76.44% of the stock is owned by institutional investors.

First Horizon Stock Up 0.1 %

Shares of FHN stock traded up $0.01 during trading hours on Tuesday, reaching $11.24. The company had a trading volume of 674,257 shares, compared to its average volume of 9,304,034. The business has a fifty day simple moving average of $12.69 and a 200-day simple moving average of $13.71. First Horizon Co. has a 12 month low of $8.99 and a 12 month high of $24.92. The company has a market cap of $6.28 billion, a price-to-earnings ratio of 5.94, a price-to-earnings-growth ratio of 3.22 and a beta of 0.95. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.94 and a quick ratio of 0.93.

First Horizon (NYSE:FHN) last posted its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. First Horizon had a net margin of 24.64% and a return on equity of 13.44%. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $820.19 million. During the same period in the previous year, the firm earned $0.34 EPS. On average, research analysts expect that First Horizon Co. will post 1.46 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.34%. First Horizon’s payout ratio is presently 31.75%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Robert W. Baird assumed coverage on First Horizon in a research report on Tuesday, July 18th. They issued a “neutral” rating and a $14.00 price objective for the company. TheStreet cut First Horizon from a “b-” rating to a “c+” rating in a report on Thursday, June 1st. SpectralCast reiterated a “reinstates” rating on shares of First Horizon in a research note on Wednesday, June 28th. StockNews.com began coverage on shares of First Horizon in a research note on Thursday, August 17th. They set a “sell” rating on the stock. Finally, JPMorgan Chase & Co. lifted their price target on shares of First Horizon from $13.00 to $13.50 in a research note on Thursday, June 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.