Qsemble Capital Management LP Sells 31,409 Shares of First Horizon Co. (NYSE:FHN)

Qsemble Capital Management LP lessened its stake in shares of First Horizon Co. (NYSE:FHN) by 64.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,282 shares of the financial services provider’s stock after selling 31,409 shares during the quarter. Qsemble Capital Management LP’s holdings in First Horizon were worth $273,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Rise Advisors LLC purchased a new position in shares of First Horizon during the 1st quarter worth approximately $25,000. Raleigh Capital Management Inc. bought a new position in First Horizon during the 4th quarter valued at approximately $28,000. Fidelis Capital Partners LLC purchased a new position in First Horizon during the first quarter valued at $28,000. Family Firm Inc. bought a new stake in First Horizon in the second quarter worth $28,000. Finally, Fortitude Family Office LLC grew its stake in shares of First Horizon by 129.3% in the first quarter. Fortitude Family Office LLC now owns 1,954 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 1,102 shares during the last quarter. Hedge funds and other institutional investors own 80.28% of the company’s stock.

First Horizon Price Performance

NYSE FHN opened at $15.81 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $8.47 billion, a P/E ratio of 11.06, a PEG ratio of 3.09 and a beta of 0.88. The company has a 50-day moving average price of $15.97 and a 200-day moving average price of $15.40. First Horizon Co. has a 52 week low of $10.08 and a 52 week high of $17.46.

First Horizon (NYSE:FHN) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The business had revenue of $1.28 billion for 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 company posted $0.39 earnings per share. Equities research analysts anticipate that First Horizon Co. will post 1.46 earnings per share for the current year.

First Horizon Announces Dividend

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 given a dividend of $0.15 per share. The ex-dividend date is Friday, September 13th. This represents a $0.60 annualized dividend and a yield of 3.80%. First Horizon’s dividend payout ratio (DPR) is presently 41.96%.

Analyst Ratings Changes

FHN has been the subject of several recent analyst reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $18.00 price target on shares of First Horizon in a research report on Wednesday, July 17th. Robert W. Baird reiterated a “neutral” rating and set a $16.00 price target on shares of First Horizon in a report on Tuesday, August 6th. StockNews.com upgraded shares of First Horizon from a “sell” rating to a “hold” rating in a report on Saturday, July 20th. Stephens assumed coverage on First Horizon in a research note on Thursday, May 23rd. They set an “overweight” rating and a $19.00 target price on the stock. Finally, Barclays lifted their target price on First Horizon from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Monday, June 24th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.