First Horizon Co. (NYSE:FHN) is Leeward Investments LLC MA’s 6th Largest Position

Leeward Investments LLC MA increased its stake in shares of First Horizon Co. (NYSE:FHN) by 194.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,209,915 shares of the financial services provider’s stock after purchasing an additional 1,460,028 shares during the quarter. First Horizon makes up approximately 1.5% of Leeward Investments LLC MA’s holdings, making the stock its 6th largest holding. Leeward Investments LLC MA owned 0.40% of First Horizon worth $31,292,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FHN. CWM LLC increased its position in First Horizon by 218.3% during the 3rd quarter. CWM LLC now owns 23,321 shares of the financial services provider’s stock worth $257,000 after purchasing an additional 15,995 shares in the last quarter. AE Wealth Management LLC grew its holdings in First Horizon by 69.8% in the 3rd quarter. AE Wealth Management LLC now owns 32,310 shares of the financial services provider’s stock valued at $356,000 after buying an additional 13,285 shares during the period. DnB Asset Management AS grew its holdings in First Horizon by 10.7% in the 3rd quarter. DnB Asset Management AS now owns 102,467 shares of the financial services provider’s stock valued at $1,129,000 after buying an additional 9,880 shares during the period. HB Wealth Management LLC grew its holdings in First Horizon by 98.0% in the 3rd quarter. HB Wealth Management LLC now owns 23,638 shares of the financial services provider’s stock valued at $260,000 after buying an additional 11,701 shares during the period. Finally, UMB Bank n.a. grew its holdings in First Horizon by 2,308.6% in the 3rd quarter. UMB Bank n.a. now owns 4,504 shares of the financial services provider’s stock valued at $50,000 after buying an additional 4,317 shares during the period. Hedge funds and other institutional investors own 80.28% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the company. Wells Fargo & Company lifted their price target on First Horizon from $14.00 to $16.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. UBS Group upgraded First Horizon from a “neutral” rating to a “buy” rating and lifted their price target for the company from $15.50 to $16.00 in a report on Wednesday, January 24th. Raymond James upgraded 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. Royal Bank of Canada raised First Horizon from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $16.00 to $18.00 in a research note on Tuesday, April 9th. Finally, StockNews.com raised First Horizon from a “sell” rating to a “hold” rating in a research note on Friday, April 19th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.15.

First Horizon Stock Performance

First Horizon stock opened at $14.81 on Friday. The stock’s 50 day moving average price is $14.64 and its 200 day moving average price is $13.52. The firm has a market capitalization of $8.22 billion, a PE ratio of 10.36, a price-to-earnings-growth ratio of 4.06 and a beta of 0.94. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.95 and a current ratio of 0.96. First Horizon Co. has a one year low of $8.99 and a one year high of $17.82.

First Horizon (NYSE:FHN) last released its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. The firm had revenue of $819.00 million for the quarter, compared to analyst estimates of $809.51 million. First Horizon had a return on equity of 8.96% and a net margin of 16.07%. First Horizon’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.46 EPS. As a group, sell-side analysts expect that First Horizon Co. will post 1.5 EPS for the current fiscal year.

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

First Horizon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend is Friday, June 14th. 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.