Franklin Street Advisors Inc. NC Decreases Position in First Horizon Co. (NYSE:FHN)

Franklin Street Advisors Inc. NC decreased its holdings in shares of First Horizon Co. (NYSE:FHN) by 15.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,383 shares of the financial services provider’s stock after selling 2,500 shares during the quarter. Franklin Street Advisors Inc. NC’s holdings in First Horizon were worth $208,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Rise Advisors LLC purchased a new stake in First Horizon during the first quarter worth approximately $25,000. UMB Bank n.a. lifted its stake in First Horizon by 365.0% during the third quarter. UMB Bank n.a. now owns 1,688 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 1,325 shares during the last quarter. Family Firm Inc. purchased a new stake in First Horizon during the second quarter worth approximately $28,000. Nemes Rush Group LLC lifted its stake in First Horizon by 306.2% during the second quarter. Nemes Rush Group LLC now owns 1,828 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 1,378 shares during the last quarter. Finally, Fidelis Capital Partners LLC purchased a new stake in First Horizon during the first quarter worth approximately $28,000. Hedge funds and other institutional investors own 80.28% of the company’s stock.

First Horizon Price Performance

FHN stock traded up $0.49 on Friday, reaching $16.27. 279,888 shares of the company’s stock were exchanged, compared to its average volume of 6,482,940. The stock has a fifty day moving average of $15.63 and a 200-day moving average of $15.50. First Horizon Co. has a twelve month low of $10.16 and a twelve month high of $17.46. The firm has a market cap of $8.90 billion, a PE ratio of 11.03, a P/E/G ratio of 1.27 and a beta of 0.88. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14.

First Horizon (NYSE:FHN) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). First Horizon had a return on equity of 8.84% and a net margin of 14.03%. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $819.82 million. During the same period in the prior year, the company earned $0.39 EPS. As a group, equities analysts predict that First Horizon Co. will post 1.46 EPS for the current fiscal year.

First Horizon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date was Friday, September 13th. First Horizon’s dividend payout ratio is presently 41.96%.

Wall Street Analysts Forecast Growth

FHN has been the subject of several recent analyst reports. Robert W. Baird restated a “neutral” rating and set a $16.00 target price on shares of First Horizon in a research note on Tuesday, August 6th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $18.00 price objective on shares of First Horizon in a research note on Wednesday, July 17th. Wedbush cut First Horizon from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $20.00 to $17.00 in a research note on Tuesday, September 24th. StockNews.com upgraded First Horizon from a “sell” rating to a “hold” rating in a research note on Saturday, July 20th. Finally, Raymond James cut First Horizon from a “strong-buy” rating to an “outperform” rating and set a $18.00 price objective for the company. in a research note on Thursday, July 18th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.38.

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.