Linden Thomas Advisory Services LLC Has $644,000 Position in First Horizon Co. (NYSE:FHN)

Linden Thomas Advisory Services LLC trimmed its stake in shares of First Horizon Co. (NYSE:FHN) by 2.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,448 shares of the financial services provider’s stock after selling 977 shares during the period. Linden Thomas Advisory Services LLC’s holdings in First Horizon were worth $644,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of FHN. AQR Capital Management LLC lifted its position in shares of First Horizon by 6,217.8% in the third quarter. AQR Capital Management LLC now owns 7,806,037 shares of the financial services provider’s stock worth $86,023,000 after purchasing an additional 7,682,480 shares in the last quarter. North Reef Capital Management LP increased its holdings in shares of First Horizon by 137.9% during the 3rd quarter. North Reef Capital Management LP now owns 8,900,000 shares of the financial services provider’s stock worth $98,078,000 after acquiring an additional 5,158,750 shares during the last quarter. LSV Asset Management lifted its holdings in First Horizon by 807.7% during the 3rd quarter. LSV Asset Management now owns 5,487,209 shares of the financial services provider’s stock valued at $60,469,000 after purchasing an additional 4,882,709 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of First Horizon by 1,068.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 3,129,336 shares of the financial services provider’s stock worth $34,485,000 after buying an additional 2,861,474 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of First Horizon by 4.2% during the third quarter. Vanguard Group Inc. now owns 56,775,050 shares of the financial services provider’s stock worth $625,661,000 after purchasing an additional 2,276,977 shares during the period. 80.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on FHN. UBS Group upgraded shares of First Horizon from a “neutral” rating to a “buy” rating and upped their price target for the company from $15.50 to $16.00 in a research note on Wednesday, January 24th. Barclays initiated coverage on First Horizon in a research note on Friday, March 8th. They issued an “overweight” rating and a $18.00 price target on the stock. Raymond James raised shares of First Horizon from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $13.00 to $17.00 in a report on Friday, January 5th. Keefe, Bruyette & Woods raised shares of First Horizon from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $16.00 to $18.00 in a research note on Friday, April 5th. Finally, Evercore ISI boosted their price objective on First Horizon from $17.00 to $17.50 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.15.

First Horizon Price Performance

First Horizon stock opened at $14.78 on Friday. The stock has a market cap of $8.20 billion, a P/E ratio of 10.34, a P/E/G ratio of 4.10 and a beta of 0.94. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average price is $14.62 and its two-hundred day moving average price is $13.49. First Horizon Co. has a 52 week low of $8.99 and a 52 week high of $17.90.

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

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

First Horizon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, June 14th. This represents a $0.60 dividend on an annualized basis and a yield of 4.06%. First Horizon’s dividend payout ratio (DPR) is presently 41.96%.

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.