Quest Partners LLC Buys 56,888 Shares of First Horizon Co. (NYSE:FHN)

Quest Partners LLC boosted its stake in shares of First Horizon Co. (NYSE:FHN) by 472.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 68,940 shares of the financial services provider’s stock after buying an additional 56,888 shares during the quarter. Quest Partners LLC’s holdings in First Horizon were worth $1,087,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new position in First Horizon during the first quarter valued at about $25,000. Raleigh Capital Management Inc. bought a new position in First Horizon during the fourth quarter valued at about $28,000. Fidelis Capital Partners LLC bought a new position in First Horizon during the first quarter worth about $28,000. Family Firm Inc. bought a new position in First Horizon during the second quarter worth about $28,000. Finally, Fortitude Family Office LLC boosted its position in First Horizon by 129.3% during the first quarter. Fortitude Family Office LLC now owns 1,954 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 1,102 shares during the period. Institutional investors own 80.28% of the company’s stock.

Wall Street Analyst Weigh In

FHN has been the subject of a number of research reports. Raymond James lowered shares of First Horizon from a “strong-buy” rating to an “outperform” rating and set a $18.00 target price for the company. in a research report on Thursday, July 18th. Jefferies Financial Group increased their target price on shares of First Horizon from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. StockNews.com upgraded shares of First Horizon from a “sell” rating to a “hold” rating in a research report on Saturday, July 20th. Royal Bank of Canada increased their target price on shares of First Horizon from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Finally, Stephens assumed coverage on shares of First Horizon in a research report on Thursday, May 23rd. They set an “overweight” rating and a $19.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $17.31.

First Horizon Trading Down 1.4 %

Shares of First Horizon stock opened at $15.49 on Wednesday. The company’s 50-day moving average price is $15.96 and its 200-day moving average price is $15.37. The company has a market cap of $8.30 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 3.11 and a beta of 0.88. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. First Horizon Co. has a 12-month low of $10.08 and a 12-month high of $17.46.

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 analysts’ consensus estimates of $0.37 by ($0.01). The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $819.82 million. First Horizon had a net margin of 14.03% and a return on equity of 8.84%. During the same period in the prior year, the business earned $0.39 earnings per share. On average, equities analysts expect that First Horizon Co. will post 1.46 earnings per share 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 $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date is Friday, September 13th. First Horizon’s dividend payout ratio is currently 41.96%.

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.