First Horizon Co. (NYSE:FHN) Holdings Raised by Cwm LLC

Cwm LLC increased its position in shares of First Horizon Co. (NYSE:FHN) by 70.6% during the third quarter, Holdings Channel.com reports. The fund owned 99,157 shares of the financial services provider’s stock after acquiring an additional 41,050 shares during the quarter. Cwm LLC’s holdings in First Horizon were worth $1,540,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Millennium Management LLC boosted its position in First Horizon by 46.5% during the second quarter. Millennium Management LLC now owns 14,370,699 shares of the financial services provider’s stock valued at $226,626,000 after purchasing an additional 4,558,129 shares during the last quarter. LSV Asset Management grew its position 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 worth $205,340,000 after purchasing an additional 4,434,929 shares during the last quarter. Jupiter Asset Management Ltd. bought a new position in First Horizon during the second quarter valued at about $66,779,000. Bank of New York Mellon Corp increased its holdings in First Horizon by 13.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 32,389,497 shares of the financial services provider’s stock valued at $510,782,000 after buying an additional 3,870,946 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in First Horizon by 28.8% in the second quarter. Dimensional Fund Advisors LP now owns 15,515,494 shares of the financial services provider’s stock worth $244,647,000 after purchasing an additional 3,470,346 shares in the last quarter. 80.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on FHN. Royal Bank of Canada raised their target price on First Horizon from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Barclays lifted their price objective on shares of First Horizon from $18.00 to $19.00 and gave the stock an “overweight” rating in a research note on Monday, June 24th. Evercore ISI decreased their target price on First Horizon from $18.50 to $18.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $18.00 target price on shares of First Horizon in a research note on Wednesday, July 17th. Finally, Raymond James cut shares of First Horizon from a “strong-buy” rating to an “outperform” rating and set a $18.00 price target for the company. in a research note on Thursday, July 18th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, First Horizon has a consensus rating of “Moderate Buy” and an average target price of $17.38.

First Horizon Price Performance

FHN opened at $16.71 on Wednesday. The firm has a 50-day moving average of $15.73 and a 200 day moving average of $15.53. First Horizon Co. has a fifty-two week low of $10.16 and a fifty-two week high of $17.46. The firm has a market cap of $9.14 billion, a P/E ratio of 11.69, a PEG ratio of 1.27 and a beta of 0.88. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95.

First Horizon (NYSE:FHN) last released its quarterly 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). First Horizon had a net margin of 14.03% and a return on equity of 8.84%. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $819.82 million. During the same quarter in the previous year, the business earned $0.39 EPS. On average, research analysts expect that First Horizon Co. will post 1.46 EPS for the current year.

First Horizon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend was Friday, September 13th. First Horizon’s dividend payout ratio (DPR) is presently 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.