First Horizon Co. (NYSE:FHN) Shares Bought by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC lifted its stake in shares of First Horizon Co. (NYSE:FHN) by 11.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 73,396 shares of the financial services provider’s stock after purchasing an additional 7,436 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in First Horizon were worth $1,115,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Janney Montgomery Scott LLC lifted its position in First Horizon by 3.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 52,229 shares of the financial services provider’s stock valued at $740,000 after purchasing an additional 1,874 shares during the last quarter. Commerce Bank raised its holdings in shares of First Horizon by 13.3% during the fourth quarter. Commerce Bank now owns 16,699 shares of the financial services provider’s stock valued at $236,000 after buying an additional 1,966 shares during the last quarter. Orion Portfolio Solutions LLC acquired a new position in shares of First Horizon during the fourth quarter worth approximately $555,000. United Services Automobile Association grew its holdings in First Horizon by 9.7% in the 4th quarter. United Services Automobile Association now owns 40,936 shares of the financial services provider’s stock worth $580,000 after buying an additional 3,628 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its position in First Horizon by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 246,551 shares of the financial services provider’s stock valued at $3,491,000 after acquiring an additional 2,410 shares during the period. Institutional investors own 80.28% of the company’s stock.

First Horizon Trading Down 1.9 %

Shares of FHN opened at $15.67 on Tuesday. The business’s 50-day moving average price is $15.95 and its 200 day moving average price is $15.46. 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 capitalization of $8.57 billion, a P/E ratio of 10.96, a P/E/G ratio of 3.09 and a beta of 0.88. First Horizon Co. has a 1-year low of $10.08 and a 1-year high of $17.46.

First Horizon (NYSE:FHN) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $819.82 million. During the same quarter in the prior year, the firm earned $0.39 EPS. Analysts expect that First Horizon Co. will post 1.46 earnings per share for the current year.

First Horizon Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date is Friday, September 13th. First Horizon’s dividend payout ratio is presently 41.96%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FHN. Robert W. Baird reissued a “neutral” rating and issued a $16.00 price target on shares of First Horizon in a research note on Tuesday, August 6th. Jefferies Financial Group increased their target price on shares of First Horizon from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Royal Bank of Canada boosted their price target on shares of First Horizon from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Raymond James cut 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, Barclays boosted their target price on First Horizon from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Monday, June 24th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $17.38.

First Horizon Company 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.