NorthRock Partners LLC Takes $248,000 Position in First Horizon Co. (NYSE:FHN)

NorthRock Partners LLC acquired a new stake in First Horizon Co. (NYSE:FHN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 12,296 shares of the financial services provider’s stock, valued at approximately $248,000.

Several other hedge funds have also modified their holdings of FHN. Jones Financial Companies Lllp acquired a new stake in shares of First Horizon in the fourth quarter valued at $30,000. Kentucky Trust Co acquired a new stake in shares of First Horizon in the fourth quarter valued at $32,000. Lee Danner & Bass Inc. acquired a new stake in First Horizon in the fourth quarter valued at $50,000. MassMutual Private Wealth & Trust FSB raised its stake in First Horizon by 335.6% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider’s stock valued at $52,000 after buying an additional 2,000 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its stake in First Horizon by 29.9% in the fourth quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider’s stock valued at $52,000 after buying an additional 591 shares in the last quarter. 80.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on FHN shares. Bank of America raised their price target on First Horizon from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. StockNews.com upgraded First Horizon from a “sell” rating to a “hold” rating in a research note on Monday, May 12th. Keefe, Bruyette & Woods cut their price target on First Horizon from $24.00 to $22.00 and set a “market perform” rating on the stock in a research note on Thursday, April 17th. Royal Bank of Canada cut their price target on First Horizon from $24.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, April 17th. Finally, Robert W. Baird upgraded First Horizon from a “neutral” rating to an “outperform” rating and set a $22.00 price target on the stock in a research note on Monday, April 7th. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.97.

First Horizon Trading Up 0.5%

Shares of First Horizon stock opened at $20.36 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95. First Horizon Co. has a 1 year low of $14.09 and a 1 year high of $22.44. The company has a market capitalization of $10.32 billion, a P/E ratio of 14.97, a P/E/G ratio of 1.19 and a beta of 0.59. The business has a 50 day moving average price of $18.40 and a 200 day moving average price of $19.81.

First Horizon (NYSE:FHN) last issued its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.02. The company had revenue of $823.69 million during the quarter, compared to the consensus estimate of $825.11 million. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. During the same period in the previous year, the firm posted $0.35 EPS. Sell-side analysts anticipate that First Horizon Co. will post 1.67 EPS for the current fiscal year.

First Horizon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a $0.15 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.60 annualized dividend and a yield of 2.95%. First Horizon’s dividend payout ratio (DPR) is presently 41.67%.

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.