First Horizon Co. (NYSE:FHN) Holdings Decreased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC trimmed its position in First Horizon Co. (NYSE:FHN) by 2.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,910 shares of the financial services provider’s stock after selling 1,460 shares during the quarter. Commonwealth Equity Services LLC’s holdings in First Horizon were worth $897,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in FHN. Rise Advisors LLC bought a new position in First Horizon during the 1st quarter worth $25,000. Raleigh Capital Management Inc. acquired a new position in First Horizon during the 4th quarter worth $28,000. Fidelis Capital Partners LLC acquired a new position in First Horizon during the 1st quarter worth $28,000. Family Firm Inc. acquired a new position in First Horizon during the 2nd quarter worth $28,000. Finally, Fortitude Family Office LLC boosted its position in 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 worth $30,000 after acquiring an additional 1,102 shares during the period. 80.28% of the stock is currently owned by institutional investors.

First Horizon Stock Performance

Shares of FHN stock opened at $15.78 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. First Horizon Co. has a fifty-two week low of $10.08 and a fifty-two week high of $17.46. The stock’s 50-day moving average is $15.98 and its two-hundred day moving average is $15.42. The firm has a market cap of $8.63 billion, a P/E ratio of 11.03, a PEG ratio of 3.09 and a beta of 0.88.

First Horizon (NYSE:FHN) last issued its earnings results on Wednesday, July 17th. The financial services provider reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). First Horizon had a return on equity of 8.84% and a net margin of 14.03%. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $819.82 million. During the same period in the previous year, the company earned $0.39 earnings per share. Analysts predict that First Horizon Co. will post 1.46 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date is Friday, September 13th. First Horizon’s payout ratio is 41.96%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Robert W. Baird restated a “neutral” rating and issued a $16.00 price objective on shares of First Horizon in a report on Tuesday, August 6th. StockNews.com upgraded First Horizon from a “sell” rating to a “hold” rating in a report on Saturday, July 20th. Jefferies Financial Group upped their price objective on First Horizon from $17.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $18.00 price objective on shares of First Horizon in a report on Wednesday, July 17th. Finally, Evercore ISI cut their price objective on First Horizon from $19.50 to $18.50 and set an “outperform” rating for the company in a report on Tuesday. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, First Horizon has an average rating of “Moderate Buy” and a consensus price target of $17.38.

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.