Harmony Asset Management LLC Purchases 8,710 Shares of First Horizon Co. (NYSE:FHN)

Harmony Asset Management LLC boosted its position in shares of First Horizon Co. (NYSE:FHN) by 12.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 76,510 shares of the financial services provider’s stock after purchasing an additional 8,710 shares during the quarter. Harmony Asset Management LLC’s holdings in First Horizon were worth $1,207,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in First Horizon by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 57,574,002 shares of the financial services provider’s stock worth $886,640,000 after purchasing an additional 627,730 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in First Horizon by 13.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 32,389,497 shares of the financial services provider’s stock worth $510,782,000 after purchasing an additional 3,870,946 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in First Horizon by 28.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 15,515,494 shares of the financial services provider’s stock worth $244,647,000 after purchasing an additional 3,470,346 shares during the last quarter. LSV Asset Management increased its stake in shares of First Horizon by 5.2% in the 2nd quarter. LSV Asset Management now owns 14,025,838 shares of the financial services provider’s stock valued at $221,187,000 after acquiring an additional 692,100 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of First Horizon in the 4th quarter valued at about $86,487,000. 80.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Royal Bank of Canada upped their price target on First Horizon from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Jefferies Financial Group upped their price target on First Horizon from $17.00 to $18.00 and gave the company 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. Barclays increased their target price on First Horizon from $18.00 to $19.00 and gave the stock an “overweight” rating in a research note on Monday, June 24th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $18.00 target price on shares of First Horizon in a research note on Wednesday, July 17th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, First Horizon currently has an average rating of “Moderate Buy” and a consensus price target of $17.38.

First Horizon Trading Down 1.2 %

NYSE FHN opened at $15.97 on Monday. The company has a market cap of $8.73 billion, a PE ratio of 11.17, a PEG ratio of 3.09 and a beta of 0.88. 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 Co. has a 12 month low of $10.08 and a 12 month high of $17.46. The stock has a 50 day moving average of $15.97 and a 200-day moving average of $15.46.

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). The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $819.82 million. First Horizon had a net margin of 14.03% and a return on equity of 8.84%. During the same period in the previous year, the company posted $0.39 EPS. On average, equities research analysts anticipate that First Horizon Co. will post 1.46 EPS for the current fiscal year.

First Horizon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.76%. The ex-dividend date is Friday, September 13th. First Horizon’s dividend payout ratio is 41.96%.

About First Horizon

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.