First Horizon Co. (NYSE:FHN) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB increased its holdings in shares of First Horizon Co. (NYSE:FHN) by 22.9% during the third quarter, HoldingsChannel.com reports. The fund owned 133,119 shares of the financial services provider’s stock after buying an additional 24,800 shares during the period. Handelsbanken Fonder AB’s holdings in First Horizon were worth $2,067,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Sei Investments Co. boosted its holdings in First Horizon by 57.6% in the 1st quarter. Sei Investments Co. now owns 426,792 shares of the financial services provider’s stock valued at $6,573,000 after purchasing an additional 155,982 shares during the last quarter. LSV Asset Management boosted its holdings in First Horizon by 49.8% in the 1st quarter. LSV Asset Management now owns 13,333,738 shares of the financial services provider’s stock valued at $205,340,000 after purchasing an additional 4,434,929 shares during the last quarter. Greenlight Capital Inc. boosted its holdings in First Horizon by 6.2% in the 4th quarter. Greenlight Capital Inc. now owns 1,377,090 shares of the financial services provider’s stock valued at $19,500,000 after purchasing an additional 80,070 shares during the last quarter. Greenwood Capital Associates LLC boosted its holdings in First Horizon by 26.1% in the 4th quarter. Greenwood Capital Associates LLC now owns 362,656 shares of the financial services provider’s stock valued at $5,135,000 after purchasing an additional 75,041 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its holdings in First Horizon by 55.5% in the 1st quarter. Los Angeles Capital Management LLC now owns 756,297 shares of the financial services provider’s stock valued at $11,647,000 after purchasing an additional 269,920 shares during the last quarter. 80.28% of the stock is currently owned by institutional investors and hedge funds.

First Horizon Price Performance

Shares of FHN opened at $15.91 on Thursday. First Horizon Co. has a fifty-two week low of $10.16 and a fifty-two week high of $17.46. The firm’s 50 day moving average price is $15.63 and its 200 day moving average price is $15.50. The company has a market cap of $8.70 billion, a P/E ratio of 11.13, a PEG ratio of 3.17 and a beta of 0.88. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14.

First Horizon (NYSE:FHN) last announced 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 business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $819.82 million. During the same period in the previous year, the company earned $0.39 earnings per share. On average, research analysts forecast that First Horizon Co. will post 1.46 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date of this dividend was Friday, September 13th. First Horizon’s dividend payout ratio is presently 41.96%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FHN. Raymond James lowered shares of 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. Evercore ISI decreased their price objective on shares of First Horizon from $18.50 to $18.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Royal Bank of Canada upped their price objective on shares of First Horizon from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Barclays upped their price objective on shares of First Horizon from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Monday, June 24th. Finally, 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. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, First Horizon has a consensus 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.