First Horizon Co. (NYSE:FHN) Shares Bought by Creative Planning

Creative Planning lifted its position in shares of First Horizon Co. (NYSE:FHN) by 11.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 82,745 shares of the financial services provider’s stock after purchasing an additional 8,263 shares during the period. Creative Planning’s holdings in First Horizon were worth $1,305,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rise Advisors LLC acquired a new position in First Horizon during the first quarter worth approximately $25,000. Family Firm Inc. purchased a new position in shares of First Horizon during the second quarter worth approximately $28,000. Nemes Rush Group LLC increased its holdings in shares of First Horizon by 306.2% in the 2nd quarter. Nemes Rush Group LLC now owns 1,828 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 1,378 shares during the period. Fidelis Capital Partners LLC acquired a new stake in First Horizon during the 1st quarter worth $28,000. Finally, Fortitude Family Office LLC grew its position in First Horizon by 129.3% during the 1st quarter. Fortitude Family Office LLC now owns 1,954 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 1,102 shares during the last quarter. 80.28% of the stock is owned by hedge funds and other institutional investors.

First Horizon Stock Down 1.2 %

FHN stock opened at $15.46 on Wednesday. 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 company’s 50-day moving average price is $15.65 and its 200 day moving average price is $15.49. First Horizon Co. has a 52 week low of $10.16 and a 52 week high of $17.46. The company has a market cap of $8.45 billion, a P/E ratio of 10.81, a P/E/G ratio of 3.17 and a beta of 0.88.

First Horizon (NYSE:FHN) last announced its quarterly earnings results 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). First Horizon had a return on equity of 8.84% and a net margin of 14.03%. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $819.82 million. During the same period last year, the firm earned $0.39 EPS. On average, research analysts expect that First Horizon Co. will post 1.46 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date of this dividend was Friday, September 13th. First Horizon’s dividend payout ratio is currently 41.96%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FHN. Evercore ISI decreased their target price on shares of First Horizon from $18.50 to $18.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $18.00 target price on shares of First Horizon in a research note on Wednesday, July 17th. Barclays upped their price target on First Horizon from $18.00 to $19.00 and gave the stock an “overweight” rating in a research note on Monday, June 24th. Raymond James lowered shares of First Horizon from a “strong-buy” rating to an “outperform” rating and set a $18.00 price objective on the stock. in a research report on Thursday, July 18th. Finally, Jefferies Financial Group upped their price objective on shares of First Horizon from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.35.

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.