Samlyn Capital LLC Purchases Shares of 1,085,663 First Horizon Co. (NYSE:FHN)

Samlyn Capital LLC purchased a new position in First Horizon Co. (NYSE:FHN) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,085,663 shares of the financial services provider’s stock, valued at approximately $17,121,000. Samlyn Capital LLC owned about 0.20% of First Horizon at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in FHN. Vanguard Group Inc. raised its stake in First Horizon by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 57,574,002 shares of the financial services provider’s stock worth $886,640,000 after acquiring an additional 627,730 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of First Horizon by 13.6% in the second 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 stake in shares of First Horizon by 28.8% in the second 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 raised its stake in shares of First Horizon by 5.2% in the second quarter. LSV Asset Management now owns 14,025,838 shares of the financial services provider’s stock worth $221,187,000 after purchasing an additional 692,100 shares during the last quarter. Finally, Scout Investments Inc. raised its stake in shares of First Horizon by 22.5% in the fourth quarter. Scout Investments Inc. now owns 5,809,388 shares of the financial services provider’s stock worth $82,261,000 after purchasing an additional 1,067,006 shares during the last quarter. 80.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. 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. Barclays lifted their price objective on First Horizon from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Monday, June 24th. Robert W. Baird restated a “neutral” rating and issued 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 set a $18.00 price target on shares of First Horizon in a research report on Wednesday, July 17th. Finally, Evercore ISI reduced their price target on First Horizon from $19.50 to $18.50 and set an “outperform” rating for the company in a research report on Tuesday, September 17th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.38.

First Horizon Stock Down 1.9 %

First Horizon stock opened at $15.67 on Tuesday. The stock has a market capitalization of $8.57 billion, a PE ratio of 10.96, a price-to-earnings-growth ratio of 3.09 and a beta of 0.88. First Horizon Co. has a 12 month low of $10.08 and a 12 month high of $17.46. The business has a 50 day simple moving average of $15.95 and a 200-day simple moving average of $15.46. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95.

First Horizon (NYSE:FHN) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $819.82 million. First Horizon had a net margin of 14.03% and a return on equity of 8.84%. During the same quarter last year, the firm earned $0.39 earnings per share. On average, analysts anticipate 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 will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date is Friday, September 13th. 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.