First Horizon Co. (NYSE:FHN) Short Interest Update

First Horizon Co. (NYSE:FHNGet Free Report) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 10,420,000 shares, a decline of 12.2% from the August 15th total of 11,870,000 shares. Currently, 1.9% of the company’s stock are short sold. Based on an average daily volume of 7,550,000 shares, the days-to-cover ratio is currently 1.4 days.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. BOKF NA acquired a new stake in First Horizon in the first quarter valued at approximately $30,000. Lazard Asset Management LLC acquired a new position in shares of First Horizon during the second quarter valued at $31,000. Grey Fox Wealth Advisors LLC acquired a new position in First Horizon during the first quarter worth about $34,000. Harbor Capital Advisors Inc. purchased a new position in First Horizon in the 2nd quarter worth about $37,000. Finally, Spire Wealth Management boosted its position in First Horizon by 156.9% during the 2nd quarter. Spire Wealth Management now owns 3,334 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 2,036 shares during the period. 76.44% of the stock is currently owned by hedge funds and other institutional investors.

First Horizon Stock Down 1.5 %

FHN stock opened at $11.45 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.94 and a quick ratio of 0.93. The firm’s fifty day simple moving average is $12.70 and its 200-day simple moving average is $13.79. The company has a market capitalization of $6.40 billion, a P/E ratio of 6.06, a price-to-earnings-growth ratio of 3.23 and a beta of 0.95. First Horizon has a 12 month low of $8.99 and a 12 month high of $24.92.

First Horizon (NYSE:FHNGet Free Report) last issued its earnings results on Wednesday, July 19th. The financial services provider reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. First Horizon had a net margin of 24.64% and a return on equity of 13.44%. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $820.19 million. During the same quarter last year, the company earned $0.34 earnings per share. As a group, equities research analysts forecast that First Horizon will post 1.46 earnings per share for the current year.

First Horizon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be issued a dividend of $0.15 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.60 annualized dividend and a dividend yield of 5.24%. First Horizon’s payout ratio is currently 31.75%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Robert W. Baird initiated coverage on shares of First Horizon in a report on Tuesday, July 18th. They set a “neutral” rating and a $14.00 price target for the company. SpectralCast reiterated a “reinstates” rating on shares of First Horizon in a research note on Wednesday, June 28th. Jefferies Financial Group raised shares of First Horizon from a “hold” rating to a “buy” rating in a report on Wednesday, May 24th. began coverage on shares of First Horizon in a research report on Thursday, August 17th. They issued a “sell” rating for the company. Finally, Royal Bank of Canada boosted their target price on shares of First Horizon from $13.00 to $14.00 in a report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, First Horizon currently has a consensus rating of “Hold” and an average target price of $15.42.

Read Our Latest Analysis on FHN

First Horizon Company Profile

(Get Free Report)

First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial services. The company operates through three segments: Regional Banking, Specialty Banking, and Corporate. It offers general banking services for consumers, businesses, financial institutions, and governments.

Further Reading

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