First Horizon Co. (NYSE:FHN) Shares Purchased by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC increased its stake in shares of First Horizon Co. (NYSE:FHN) by 55.5% in the 1st quarter, HoldingsChannel reports. The firm owned 756,297 shares of the financial services provider’s stock after purchasing an additional 269,920 shares during the period. Los Angeles Capital Management LLC’s holdings in First Horizon were worth $11,647,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of FHN. Nisa Investment Advisors LLC lifted its holdings in shares of First Horizon by 0.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 106,489 shares of the financial services provider’s stock valued at $1,508,000 after purchasing an additional 900 shares during the last quarter. Yousif Capital Management LLC lifted its holdings in shares of First Horizon by 0.4% in the 4th quarter. Yousif Capital Management LLC now owns 265,607 shares of the financial services provider’s stock valued at $3,761,000 after purchasing an additional 1,068 shares during the last quarter. Red Door Wealth Management LLC lifted its holdings in shares of First Horizon by 3.4% in the 4th quarter. Red Door Wealth Management LLC now owns 32,239 shares of the financial services provider’s stock valued at $456,000 after purchasing an additional 1,070 shares during the last quarter. BCM Advisors LLC lifted its holdings in shares of First Horizon by 13.5% in the 4th quarter. BCM Advisors LLC now owns 11,910 shares of the financial services provider’s stock valued at $176,000 after purchasing an additional 1,417 shares during the last quarter. Finally, Van Hulzen Asset Management LLC lifted its holdings in shares of First Horizon by 5.6% in the 4th quarter. Van Hulzen Asset Management LLC now owns 32,100 shares of the financial services provider’s stock valued at $455,000 after purchasing an additional 1,700 shares during the last quarter. 80.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Stephens assumed coverage on First Horizon in a research note on Thursday, May 23rd. They set an “overweight” rating and a $19.00 price objective for the company. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $18.00 price objective on shares of First Horizon in a research note on Tuesday, June 11th. Evercore ISI upped their price objective on First Horizon from $17.00 to $17.50 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Wells Fargo & Company upped their price objective on First Horizon from $14.00 to $16.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. Finally, Robert W. Baird upped their price objective on First Horizon from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.62.

First Horizon Stock Performance

NYSE FHN opened at $14.45 on Thursday. The stock has a market capitalization of $7.90 billion, a price-to-earnings ratio of 10.10, a PEG ratio of 1.95 and a beta of 0.91. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $15.22 and its two-hundred day moving average is $14.60. First Horizon Co. has a 12-month low of $10.08 and a 12-month high of $16.28.

First Horizon (NYSE:FHN) last released its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The business had revenue of $819.00 million for the quarter, compared to analysts’ expectations of $809.51 million. First Horizon had a return on equity of 8.96% and a net margin of 16.07%. The company’s revenue was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.46 EPS. Research analysts expect that First Horizon Co. will post 1.5 EPS for the current year.

First Horizon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $0.15 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.60 annualized dividend and a yield of 4.15%. First Horizon’s dividend payout ratio is currently 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.