First Horizon Co. (NYSE:FHN) Shares Purchased by Sculptor Capital LP

Sculptor Capital LP boosted its stake in shares of First Horizon Co. (NYSE:FHN) by 18.2% in the second quarter, HoldingsChannel.com reports. The fund owned 10,200,000 shares of the financial services provider’s stock after purchasing an additional 1,570,000 shares during the period. First Horizon makes up about 3.0% of Sculptor Capital LP’s investment portfolio, making the stock its 5th biggest position. Sculptor Capital LP’s holdings in First Horizon were worth $160,854,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in FHN. Rise Advisors LLC purchased a new stake in shares of First Horizon during the first quarter worth $25,000. Raleigh Capital Management Inc. purchased a new stake in shares of First Horizon in the fourth quarter valued at about $28,000. Fidelis Capital Partners LLC purchased a new stake in shares of First Horizon in the first quarter valued at about $28,000. Family Firm Inc. purchased a new stake in shares of First Horizon in the second quarter valued at about $28,000. Finally, Fortitude Family Office LLC grew its holdings 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 valued at $30,000 after purchasing an additional 1,102 shares during the period. 80.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Wedbush lowered shares of First Horizon from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $20.00 to $17.00 in a research note on Tuesday. 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 note on Thursday, July 18th. Robert W. Baird reaffirmed a “neutral” rating and set a $16.00 target price on shares of First Horizon in a research note on Tuesday, August 6th. StockNews.com raised shares of First Horizon from a “sell” rating to a “hold” rating in a research note on Saturday, July 20th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $18.00 price target 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.38.

First Horizon Stock Performance

NYSE:FHN opened at $15.39 on Friday. The firm’s fifty day moving average price is $15.86 and its 200 day moving average price is $15.46. First Horizon Co. has a 1-year low of $10.08 and a 1-year high of $17.46. 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 firm has a market cap of $8.42 billion, a price-to-earnings ratio of 10.76, a price-to-earnings-growth ratio of 3.17 and a beta of 0.88.

First Horizon (NYSE:FHN) last released 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). 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 analyst estimates of $819.82 million. During the same period last year, the business posted $0.39 EPS. On average, sell-side analysts expect that First Horizon Co. will post 1.46 EPS for the current year.

First Horizon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date is Friday, September 13th. First Horizon’s dividend payout ratio (DPR) is currently 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.