Register Financial Advisors LLC Buys Shares of 5,500 First Horizon Co. (NYSE:FHN)

Register Financial Advisors LLC purchased a new position in shares of First Horizon Co. (NYSE:FHN) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,500 shares of the financial services provider’s stock, valued at approximately $85,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. AQR Capital Management LLC boosted its position in First Horizon by 6,217.8% during the third quarter. AQR Capital Management LLC now owns 7,806,037 shares of the financial services provider’s stock worth $86,023,000 after purchasing an additional 7,682,480 shares in the last quarter. Norges Bank purchased a new position in First Horizon during the 4th quarter valued at about $86,487,000. Junto Capital Management LP purchased a new position in First Horizon during the 4th quarter valued at about $52,721,000. LSV Asset Management raised its position in First Horizon by 62.2% during the fourth quarter. LSV Asset Management now owns 8,898,809 shares of the financial services provider’s stock worth $126,007,000 after acquiring an additional 3,411,600 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of First Horizon by 1,068.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 3,129,336 shares of the financial services provider’s stock valued at $34,485,000 after purchasing an additional 2,861,474 shares in the last quarter. Institutional investors and hedge funds own 80.28% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Stephens began coverage on First Horizon in a research report on Thursday, May 23rd. They set an “overweight” rating and a $19.00 price objective for the company. Royal Bank of Canada upgraded First Horizon from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $16.00 to $18.00 in a research report on Tuesday, April 9th. StockNews.com cut First Horizon from a “hold” rating to a “sell” rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of First Horizon from $16.00 to $17.50 and gave the company a “neutral” rating in a research note on Thursday, April 4th. Finally, Wedbush reaffirmed an “outperform” rating and set a $17.00 price target on shares of First Horizon in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, First Horizon presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.69.

First Horizon Trading Up 6.5 %

Shares of NYSE FHN traded up $0.96 during trading on Friday, hitting $15.76. 16,368,854 shares of the company traded hands, compared to its average volume of 6,870,221. The firm has a market capitalization of $8.62 billion, a P/E ratio of 10.94, a P/E/G ratio of 1.99 and a beta of 0.91. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $15.29 and a 200-day moving average price of $14.65. First Horizon Co. has a 1 year low of $10.08 and a 1 year high of $16.28.

First Horizon (NYSE:FHN) last posted its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $819.00 million during the quarter, compared to the consensus estimate of $809.51 million. First Horizon had a return on equity of 8.96% and a net margin of 16.07%. The firm’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.46 earnings per share. On average, equities analysts predict that First Horizon Co. will post 1.5 EPS for the current year.

First Horizon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend is Friday, June 14th. 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.