Seven Eight Capital LP Purchases Shares of 153,615 First Horizon Co. (NYSE:FHN)

Seven Eight Capital LP purchased a new stake in First Horizon Co. (NYSE:FHN) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 153,615 shares of the financial services provider’s stock, valued at approximately $2,366,000.

Several other large investors have also recently bought and sold shares of the company. First Trust Direct Indexing L.P. boosted its holdings in First Horizon by 6.5% in the 1st quarter. First Trust Direct Indexing L.P. now owns 12,623 shares of the financial services provider’s stock valued at $194,000 after purchasing an additional 765 shares during the period. Perigon Wealth Management LLC boosted its holdings in First Horizon by 7.5% in the 1st quarter. Perigon Wealth Management LLC now owns 11,520 shares of the financial services provider’s stock valued at $177,000 after purchasing an additional 804 shares during the period. Nisa Investment Advisors LLC boosted its holdings in First Horizon by 0.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 106,489 shares of the financial services provider’s stock valued at $1,508,000 after purchasing an additional 900 shares during the period. Yousif Capital Management LLC boosted its holdings in First Horizon by 0.4% in the 4th quarter. Yousif Capital Management LLC now owns 265,607 shares of the financial services provider’s stock valued at $3,761,000 after purchasing an additional 1,068 shares during the period. Finally, Red Door Wealth Management LLC lifted its holdings in shares of First Horizon by 3.4% during the 4th quarter. Red Door Wealth Management LLC now owns 32,239 shares of the financial services provider’s stock worth $456,000 after acquiring an additional 1,070 shares during the last quarter. 80.28% of the stock is owned by institutional investors.

First Horizon Trading Up 0.5 %

Shares of FHN stock traded up $0.09 during mid-day trading on Tuesday, reaching $16.55. The stock had a trading volume of 5,676,386 shares, compared to its average volume of 6,987,171. The stock’s 50-day moving average price is $15.57 and its two-hundred day moving average price is $14.93. First Horizon Co. has a 52-week low of $10.08 and a 52-week high of $17.46. The firm has a market capitalization of $9.05 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 3.28 and a beta of 0.89. 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 (NYSE:FHN) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.36 earnings per share (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 firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $819.82 million. During the same quarter in the previous year, the firm posted $0.39 EPS. Equities analysts expect that First Horizon Co. will post 1.48 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.63%. First Horizon’s dividend payout ratio is currently 41.96%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on FHN. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $18.00 price objective on shares of First Horizon in a report on Wednesday, July 17th. Barclays lifted their price objective on shares of First Horizon from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Monday, June 24th. Royal Bank of Canada lifted their price objective on shares of First Horizon from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. 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 report on Thursday, July 18th. Finally, Robert W. Baird boosted their price target on shares of First Horizon from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.31.

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.