Inspire Investing LLC grew its position in shares of First Horizon Co. (NYSE:FHN – Free Report) by 18.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,446 shares of the financial services provider’s stock after purchasing an additional 4,101 shares during the quarter. Inspire Investing LLC’s holdings in First Horizon were worth $411,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the company. Rise Advisors LLC acquired a new position in shares of First Horizon in the first quarter worth about $25,000. UMB Bank n.a. increased its stake in shares of First Horizon by 365.0% in the 3rd quarter. UMB Bank n.a. now owns 1,688 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,325 shares in the last quarter. Family Firm Inc. acquired a new position in First Horizon in the 2nd quarter worth about $28,000. Nemes Rush Group LLC grew its holdings in First Horizon by 306.2% in the second quarter. Nemes Rush Group LLC now owns 1,828 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 1,378 shares during the period. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of First Horizon in the first quarter valued at approximately $28,000. 80.28% of the stock is currently owned by institutional investors and hedge funds.
First Horizon Price Performance
First Horizon stock opened at $17.44 on Friday. The company has a 50-day moving average price of $15.83 and a 200 day moving average price of $15.56. First Horizon Co. has a 12-month low of $10.16 and a 12-month high of $17.68. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The stock has a market cap of $9.53 billion, a P/E ratio of 12.19, a PEG ratio of 1.27 and a beta of 0.88.
First Horizon Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.60 annualized dividend and a yield of 3.44%. First Horizon’s dividend payout ratio (DPR) is currently 41.96%.
Wall Street Analyst Weigh In
FHN has been the topic of a number of research analyst reports. StockNews.com raised shares of First Horizon from a “sell” rating to a “hold” rating in a research note on Saturday, July 20th. Jefferies Financial Group boosted their target price on shares of First Horizon from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Robert W. Baird reaffirmed a “neutral” rating and issued a $16.00 price target on shares of First Horizon in a research note on Tuesday, August 6th. Evercore ISI cut their price objective 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. Finally, JPMorgan Chase & Co. reduced their target price on First Horizon from $19.00 to $18.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, First Horizon presently has a consensus rating of “Moderate Buy” and an average price target of $17.69.
View Our Latest Research Report on First Horizon
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.
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