Louisiana State Employees Retirement System boosted its position in First Horizon Co. (NYSE:FHN – Free Report) by 10.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 157,100 shares of the financial services provider’s stock after purchasing an additional 14,800 shares during the quarter. Louisiana State Employees Retirement System’s holdings in First Horizon were worth $1,771,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in the company. BOKF NA acquired a new position in shares of First Horizon during the 1st quarter valued at about $30,000. Grey Fox Wealth Advisors LLC acquired a new position in shares of First Horizon in the 1st quarter valued at approximately $34,000. Harbor Capital Advisors Inc. acquired a new stake in shares of First Horizon during the 2nd quarter valued at approximately $37,000. FWL Investment Management LLC acquired a new stake in First Horizon in the fourth quarter worth $39,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in First Horizon in the third quarter worth $39,000. Institutional investors and hedge funds own 76.44% of the company’s stock.
Analyst Ratings Changes
Several research firms have recently issued reports on FHN. JPMorgan Chase & Co. increased their price target on First Horizon from $13.00 to $13.50 in a research note on Thursday, June 29th. UBS Group started coverage on First Horizon in a report on Thursday. They issued a “neutral” rating and a $12.00 target price for the company. The Goldman Sachs Group assumed coverage on First Horizon in a report on Wednesday, June 28th. They issued a “neutral” rating for the company. StockNews.com assumed coverage on First Horizon in a report on Thursday, August 17th. They set a “sell” rating for the company. Finally, Raymond James upgraded First Horizon from a “market perform” rating to an “outperform” rating and set a $13.00 price target on the stock in a research report on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, First Horizon currently has an average rating of “Hold” and an average price target of $14.93.
First Horizon Trading Up 0.3 %
FHN opened at $11.02 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.94 and a quick ratio of 0.93. The firm has a market capitalization of $6.16 billion, a PE ratio of 5.83, a P/E/G ratio of 3.09 and a beta of 0.96. First Horizon Co. has a fifty-two week low of $8.99 and a fifty-two week high of $24.92. The company’s 50-day moving average is $12.41 and its 200 day moving average is $13.19.
First Horizon (NYSE:FHN – Get Free Report) last issued its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. First Horizon had a net margin of 24.64% and a return on equity of 13.44%. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $820.19 million. During the same quarter last year, the business posted $0.34 EPS. As a group, research analysts predict that First Horizon Co. will post 1.47 earnings per share for the current fiscal year.
First Horizon Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.44%. The ex-dividend date of this dividend is Thursday, September 14th. First Horizon’s payout ratio is 31.75%.
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.
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