Sanctuary Advisors LLC Buys Shares of 21,097 First Horizon Co. (NYSE:FHN)

Sanctuary Advisors LLC purchased a new position in First Horizon Co. (NYSE:FHN) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 21,097 shares of the financial services provider’s stock, valued at approximately $312,000.

A number of other institutional investors have also made changes to their positions in FHN. Rise Advisors LLC bought a new stake in First Horizon in the first quarter valued at approximately $25,000. Fidelis Capital Partners LLC bought a new stake in shares of First Horizon in the 1st quarter valued at $28,000. Family Firm Inc. bought a new stake in shares of First Horizon in the 2nd quarter valued at $28,000. Nemes Rush Group LLC raised its stake in First Horizon by 306.2% during the 2nd quarter. Nemes Rush Group LLC now owns 1,828 shares of the financial services provider’s stock worth $29,000 after buying an additional 1,378 shares during the period. Finally, Industrial Alliance Investment Management Inc. bought a new position in First Horizon during the second quarter worth about $31,000. 80.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FHN has been the subject of several recent analyst reports. Wedbush downgraded First Horizon from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $20.00 to $17.00 in a report on Tuesday, September 24th. Raymond James cut First Horizon from a “strong-buy” rating to an “outperform” rating and set a $18.00 target price for the company. in a research note on Thursday, July 18th. Royal Bank of Canada lifted their price target on shares of First Horizon from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Thursday. Barclays increased their price objective on shares of First Horizon from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $18.00 price objective on shares of First Horizon in a research report on Wednesday, July 17th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $17.77.

First Horizon Stock Up 0.1 %

First Horizon stock opened at $17.46 on Friday. The company has a fifty day simple moving average of $15.88 and a 200 day simple moving average of $15.58. 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 1-year low of $10.16 and a 1-year high of $17.68. The company has a market cap of $9.55 billion, a P/E ratio of 12.21, a price-to-earnings-growth ratio of 1.27 and a beta of 0.88.

First Horizon (NYSE:FHN) last released its earnings results on Wednesday, October 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.04. First Horizon had a return on equity of 8.84% and a net margin of 14.03%. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $821.63 million. During the same quarter in the previous year, the business earned $0.27 earnings per share. Research analysts anticipate that First Horizon Co. will post 1.46 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date was Friday, September 13th. First Horizon’s dividend payout ratio is currently 41.96%.

First Horizon 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.