Mercer Global Advisors Inc. ADV Has $406,000 Stock Position in First Horizon Co. (NYSE:FHN)

Mercer Global Advisors Inc. ADV grew its stake in shares of First Horizon Co. (NYSE:FHN) by 9.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 25,723 shares of the financial services provider’s stock after buying an additional 2,143 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in First Horizon were worth $406,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in FHN. Rise Advisors LLC acquired a new stake in shares of First Horizon in the 1st quarter worth about $25,000. Raleigh Capital Management Inc. acquired a new stake in shares of First Horizon in the 4th quarter worth about $28,000. Fidelis Capital Partners LLC acquired a new stake in shares of First Horizon in the 1st quarter worth about $28,000. Family Firm Inc. acquired a new stake in shares of First Horizon in the 2nd quarter worth about $28,000. Finally, Fortitude Family Office LLC raised its holdings in shares of First Horizon by 129.3% in the 1st 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. Institutional investors and hedge funds own 80.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FHN. Robert W. Baird restated a “neutral” rating and issued a $16.00 target price on shares of First Horizon in a report on Tuesday, August 6th. 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. Royal Bank of Canada upped their price objective 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. Evercore ISI reduced their price objective on shares of First Horizon from $19.50 to $18.50 and set an “outperform” rating for the company in a research report on Tuesday, September 17th. Finally, Raymond James downgraded shares of First Horizon from a “strong-buy” rating to an “outperform” rating and set a $18.00 price objective for the company. in a research report on Thursday, July 18th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.38.

First Horizon Price Performance

Shares of NYSE:FHN opened at $15.51 on Friday. The firm has a market cap of $8.48 billion, a price-to-earnings ratio of 10.85, a P/E/G ratio of 3.17 and a beta of 0.88. The firm has a fifty day moving average price of $15.84 and a 200 day moving average price of $15.47. 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 Co. has a fifty-two week low of $10.08 and a fifty-two week high of $17.46.

First Horizon (NYSE:FHN) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.36 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $819.82 million. During the same quarter last year, the business earned $0.39 EPS. As a group, sell-side analysts expect that First Horizon Co. will post 1.46 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a $0.15 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.60 annualized dividend and a dividend yield of 3.87%. First Horizon’s dividend payout ratio (DPR) is presently 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.