Blue Trust Inc. Has $191,000 Stock Holdings in First Horizon Co. (NYSE:FHN)

Blue Trust Inc. lifted its holdings in shares of First Horizon Co. (NYSE:FHN) by 57.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,418 shares of the financial services provider’s stock after purchasing an additional 4,534 shares during the period. Blue Trust Inc.’s holdings in First Horizon were worth $191,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in FHN. Vanguard Group Inc. boosted its holdings in shares of First Horizon by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 57,574,002 shares of the financial services provider’s stock worth $886,640,000 after buying an additional 627,730 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in First Horizon by 224.4% in the first quarter. Bank of New York Mellon Corp now owns 28,518,551 shares of the financial services provider’s stock worth $439,186,000 after purchasing an additional 19,728,357 shares during the period. LSV Asset Management grew its holdings in First Horizon by 49.8% in the first quarter. LSV Asset Management now owns 13,333,738 shares of the financial services provider’s stock worth $205,340,000 after purchasing an additional 4,434,929 shares during the period. Dimensional Fund Advisors LP increased its stake in First Horizon by 10.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,641,140 shares of the financial services provider’s stock valued at $136,526,000 after purchasing an additional 883,503 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of First Horizon during the fourth quarter valued at about $86,487,000. Institutional investors and hedge funds own 80.28% of the company’s stock.

Analysts Set New Price Targets

FHN has been the subject of several research reports. Royal Bank of Canada raised their target price on First Horizon from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Stephens assumed coverage on First Horizon in a report on Thursday, May 23rd. They set an “overweight” rating and a $19.00 price objective for the company. Raymond James cut First Horizon from a “strong-buy” rating to an “outperform” rating and set a $18.00 target price on the stock. in a report on Thursday, July 18th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $18.00 price target on shares of First Horizon in a research note on Wednesday, July 17th. Finally, Evercore ISI dropped their price objective on shares of First Horizon from $18.50 to $17.50 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.31.

First Horizon Stock Up 1.5 %

FHN opened at $15.80 on Monday. First Horizon Co. has a fifty-two week low of $10.08 and a fifty-two week high of $17.46. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. The company’s 50-day moving average is $15.56 and its 200 day moving average is $15.11. The firm has a market capitalization of $8.64 billion, a P/E ratio of 11.05, a PEG ratio of 3.23 and a beta of 0.89.

First Horizon (NYSE:FHN) last posted its earnings results on Wednesday, July 17th. The financial services provider reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $819.82 million. First Horizon had a return on equity of 8.84% and a net margin of 14.03%. During the same period in the prior year, the business earned $0.39 EPS. 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 disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a $0.15 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.60 dividend on an annualized basis and a yield of 3.80%. First Horizon’s dividend payout ratio (DPR) is presently 41.96%.

About First Horizon

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.