AE Wealth Management LLC Invests $3.70 Million in First Horizon Co. (NYSE:FHN)

AE Wealth Management LLC acquired a new stake in First Horizon Co. (NYSE:FHN) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 234,805 shares of the financial services provider’s stock, valued at approximately $3,703,000.

Other institutional investors also recently modified their holdings of the company. Rise Advisors LLC acquired a new position in First Horizon during the 1st quarter worth approximately $25,000. Family Firm Inc. bought a new stake in shares of First Horizon during the second quarter valued at approximately $28,000. Fidelis Capital Partners LLC acquired a new position in shares of First Horizon during the first quarter worth approximately $28,000. Fortitude Family Office LLC lifted its holdings in shares of First Horizon by 129.3% in 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 in the last quarter. Finally, Industrial Alliance Investment Management Inc. acquired a new stake in First Horizon in the 2nd quarter valued at $31,000. Institutional investors and hedge funds own 80.28% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Jefferies Financial Group raised their price objective on shares of First Horizon from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $18.00 price target on shares of First Horizon in a research report on Wednesday, July 17th. StockNews.com raised First Horizon from a “sell” rating to a “hold” rating in a report on Saturday, July 20th. Robert W. Baird restated a “neutral” rating and issued a $16.00 target price on shares of First Horizon in a report on Tuesday, August 6th. Finally, Royal Bank of Canada lifted their target price on First Horizon from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $17.38.

First Horizon Stock Down 1.2 %

Shares of NYSE:FHN opened at $15.97 on Monday. First Horizon Co. has a 1 year low of $10.08 and a 1 year high of $17.46. The company has a market capitalization of $8.73 billion, a PE ratio of 11.17, a price-to-earnings-growth ratio of 3.09 and a beta of 0.88. The business has a fifty day moving average price of $15.97 and a two-hundred day moving average price 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 results on Wednesday, July 17th. The financial services provider reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate 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 in the previous year, the company posted $0.39 EPS. Analysts forecast that First Horizon Co. will post 1.46 earnings per share for the current year.

First Horizon Announces Dividend

The business also recently declared 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. The ex-dividend date is Friday, September 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.76%. First Horizon’s dividend payout ratio (DPR) is presently 41.96%.

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.