Resources Management Corp CT ADV Has $381,000 Holdings in First Horizon Co. (NYSE:FHN)

Resources Management Corp CT ADV cut its position in shares of First Horizon Co. (NYSE:FHN) by 16.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,150 shares of the financial services provider’s stock after selling 4,915 shares during the quarter. Resources Management Corp CT ADV’s holdings in First Horizon were worth $381,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in FHN. Evergreen Capital Management LLC purchased a new stake in shares of First Horizon in the 2nd quarter valued at approximately $212,000. Magnetar Financial LLC raised its stake in First Horizon by 21.0% during the 2nd quarter. Magnetar Financial LLC now owns 65,825 shares of the financial services provider’s stock valued at $1,038,000 after purchasing an additional 11,403 shares during the period. Harmony Asset Management LLC lifted its holdings in shares of First Horizon by 12.8% in the second quarter. Harmony Asset Management LLC now owns 76,510 shares of the financial services provider’s stock valued at $1,207,000 after purchasing an additional 8,710 shares in the last quarter. Summit Trail Advisors LLC acquired a new stake in shares of First Horizon in the second quarter worth $217,000. Finally, Sei Investments Co. grew its holdings in shares of First Horizon by 19.0% during the second quarter. Sei Investments Co. now owns 507,947 shares of the financial services provider’s stock valued at $8,011,000 after buying an additional 81,155 shares in the last quarter. 80.28% of the stock is currently owned by institutional investors and hedge funds.

First Horizon Price Performance

Shares of NYSE:FHN opened at $15.29 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. The stock has a market capitalization of $8.36 billion, a P/E ratio of 10.69, a P/E/G ratio of 3.09 and a beta of 0.88. The business has a 50-day moving average of $15.90 and a two-hundred day moving average of $15.46. First Horizon Co. has a fifty-two week low of $10.08 and a fifty-two week high of $17.46.

First Horizon (NYSE:FHN) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 14.03% and a return on equity of 8.84%. During the same quarter last year, the company earned $0.39 earnings per share. On average, equities research analysts predict that First Horizon Co. will post 1.46 EPS for the current fiscal year.

First Horizon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend is Friday, September 13th. First Horizon’s payout ratio is currently 41.96%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on FHN shares. StockNews.com raised First Horizon from a “sell” rating to a “hold” rating in a research note on Saturday, July 20th. Evercore ISI reduced their price target on shares of First Horizon from $19.50 to $18.50 and set an “outperform” rating for the company in a research report on Tuesday, September 17th. Barclays boosted their price objective on shares of First Horizon from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Monday, June 24th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $18.00 price objective on shares of First Horizon in a research note on Wednesday, July 17th. Finally, Jefferies Financial Group lifted their target price on shares of First Horizon from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.38.

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.