First Horizon Co. (NYSE:FHN) Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB lifted its stake in shares of First Horizon Co. (NYSE:FHN) by 22.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 133,119 shares of the financial services provider’s stock after buying an additional 24,800 shares during the period. Handelsbanken Fonder AB’s holdings in First Horizon were worth $2,067,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Millennium Management LLC lifted its position in First Horizon by 46.5% during the second quarter. Millennium Management LLC now owns 14,370,699 shares of the financial services provider’s stock valued at $226,626,000 after purchasing an additional 4,558,129 shares during the period. LSV Asset Management lifted its position in First Horizon by 49.8% during the first quarter. LSV Asset Management now owns 13,333,738 shares of the financial services provider’s stock valued at $205,340,000 after purchasing an additional 4,434,929 shares during the period. Jupiter Asset Management Ltd. acquired a new position in First Horizon during the second quarter valued at $66,779,000. Bank of New York Mellon Corp lifted its position in First Horizon by 13.6% during the second quarter. Bank of New York Mellon Corp now owns 32,389,497 shares of the financial services provider’s stock valued at $510,782,000 after purchasing an additional 3,870,946 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in First Horizon by 28.8% during the second quarter. Dimensional Fund Advisors LP now owns 15,515,494 shares of the financial services provider’s stock valued at $244,647,000 after purchasing an additional 3,470,346 shares during the period. 80.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on FHN shares. JPMorgan Chase & Co. decreased their target price on shares of First Horizon from $19.00 to $18.00 and set a “neutral” rating for the company in a research report on Wednesday. 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. Evercore ISI cut their price objective on shares of First Horizon from $18.50 to $18.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. StockNews.com raised shares of First Horizon from a “sell” rating to a “hold” rating in a report on Saturday, July 20th. Finally, Barclays lifted their price objective on shares of First Horizon from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Monday, June 24th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.38.

First Horizon Stock Up 2.8 %

FHN stock opened at $15.91 on Thursday. The stock has a market capitalization of $8.70 billion, a P/E ratio of 11.13, a P/E/G ratio of 3.17 and a beta of 0.88. The firm has a 50-day simple moving average of $15.63 and a 200-day simple moving average of $15.50. 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 Co. has a 52 week low of $10.16 and a 52 week high of $17.46.

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

First Horizon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.60 dividend on an annualized basis and a yield of 3.77%. First Horizon’s payout ratio 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.