FineMark National Bank & Trust Has $251,000 Stock Position in First Horizon Co. (NYSE:FHN)

FineMark National Bank & Trust cut its holdings in shares of First Horizon Co. (NYSE:FHN) by 19.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,927 shares of the financial services provider’s stock after selling 3,869 shares during the quarter. FineMark National Bank & Trust’s holdings in First Horizon were worth $251,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Victory Capital Management Inc. raised its stake in First Horizon by 388.5% during the 4th quarter. Victory Capital Management Inc. now owns 476,145 shares of the financial services provider’s stock valued at $6,742,000 after purchasing an additional 378,667 shares during the last quarter. Swiss National Bank bought a new position in shares of First Horizon during the 4th quarter worth about $15,592,000. Natixis Advisors L.P. lifted its stake in shares of First Horizon by 30.2% in the fourth quarter. Natixis Advisors L.P. now owns 278,830 shares of the financial services provider’s stock valued at $3,948,000 after buying an additional 64,749 shares during the period. National Bank of Canada FI lifted its stake in shares of First Horizon by 345.9% in the fourth quarter. National Bank of Canada FI now owns 668,411 shares of the financial services provider’s stock valued at $9,659,000 after buying an additional 518,507 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in First Horizon by 5.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,663,138 shares of the financial services provider’s stock worth $51,870,000 after buying an additional 204,199 shares in the last quarter. 80.28% of the stock is currently owned by institutional investors and hedge funds.

First Horizon Trading Down 2.5 %

FHN stock opened at $15.34 on Friday. 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 $8.39 billion, a price-to-earnings ratio of 10.72, a P/E/G ratio of 3.36 and a beta of 0.88. The business has a fifty day moving average price of $15.97 and a 200 day moving average price of $15.33. 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). First Horizon had a net margin of 14.03% and a return on equity of 8.84%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $819.82 million. During the same period in the prior year, the firm earned $0.39 earnings per share. Analysts expect that First Horizon Co. will post 1.46 EPS for the current fiscal year.

First Horizon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, September 13th. This represents a $0.60 annualized dividend and a dividend yield of 3.91%. First Horizon’s dividend payout ratio (DPR) is currently 41.96%.

Analyst Ratings Changes

A number of analysts have commented on the company. Royal Bank of Canada raised their price objective on First Horizon from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Stephens began coverage on shares of First Horizon in a research note on Thursday, May 23rd. They set an “overweight” rating and a $19.00 price target on the stock. Raymond James cut shares of First Horizon from a “strong-buy” rating to an “outperform” rating and set a $18.00 price objective for the company. in a research note on Thursday, July 18th. Robert W. Baird reiterated a “neutral” rating and set a $16.00 target price on shares of First Horizon in a research report on Tuesday, August 6th. Finally, Jefferies Financial Group upped 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. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.31.

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.