Hodges Capital Management Inc. Has $5.65 Million Holdings in First Horizon Co. (NYSE:FHN)

Hodges Capital Management Inc. lowered its position in First Horizon Co. (NYSE:FHN) by 32.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 367,000 shares of the financial services provider’s stock after selling 178,300 shares during the period. Hodges Capital Management Inc. owned 0.07% of First Horizon worth $5,652,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Rise Advisors LLC bought a new stake in First Horizon during the first quarter valued at $25,000. Raleigh Capital Management Inc. acquired a new position in shares of First Horizon in the 4th quarter valued at about $28,000. Fortitude Family Office LLC boosted its position in shares of First Horizon by 129.3% during the 1st quarter. Fortitude Family Office LLC now owns 1,954 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 1,102 shares in the last quarter. Richardson Financial Services Inc. acquired a new stake in First Horizon during the fourth quarter worth approximately $35,000. Finally, Byrne Asset Management LLC bought a new stake in First Horizon in the fourth quarter worth approximately $40,000. 80.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on FHN shares. Evercore ISI cut their price target on First Horizon from $18.50 to $17.50 and set an “outperform” rating on the stock in a report on Tuesday. Robert W. Baird lifted their price target on shares of First Horizon from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, April 18th. Wells Fargo & Company upped their price objective on shares of First Horizon from $14.00 to $16.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. Stephens assumed coverage on First Horizon in a research note on Thursday, May 23rd. They issued an “overweight” rating and a $19.00 target price for the company. Finally, Barclays upped their price target on First Horizon from $18.00 to $19.00 and gave the stock an “overweight” rating in a research note on Monday, June 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.69.

First Horizon Stock Up 6.6 %

Shares of FHN stock traded up $0.97 on Friday, hitting $15.77. The stock had a trading volume of 16,368,858 shares, compared to its average volume of 6,516,225. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.95. The business has a 50 day moving average of $15.32 and a 200 day moving average of $14.67. First Horizon Co. has a 12-month low of $10.08 and a 12-month high of $16.28. The stock has a market cap of $8.62 billion, a price-to-earnings ratio of 11.02, a price-to-earnings-growth ratio of 1.99 and a beta of 0.91.

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

First Horizon Announces Dividend

The firm also recently declared 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 of this dividend is Friday, June 14th. This represents a $0.60 dividend on an annualized basis and a yield of 3.80%. First Horizon’s dividend payout ratio (DPR) is currently 41.96%.

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 Regional Banking and Specialty Banking segments. It offers general banking services for consumers, businesses, financial institutions, and governments.