11,868 Shares in First Horizon Co. (NYSE:FHN) Purchased by Allen Capital Group LLC

Allen Capital Group LLC bought a new position in First Horizon Co. (NYSE:FHN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,868 shares of the financial services provider’s stock, valued at approximately $168,000.

Several other large investors also recently modified their holdings of the business. Cetera Investment Advisers lifted its holdings in shares of First Horizon by 3.2% during the first quarter. Cetera Investment Advisers now owns 15,738 shares of the financial services provider’s stock valued at $370,000 after purchasing an additional 491 shares during the last quarter. Blair William & Co. IL lifted its holdings in shares of First Horizon by 2.1% during the first quarter. Blair William & Co. IL now owns 28,364 shares of the financial services provider’s stock valued at $666,000 after purchasing an additional 575 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of First Horizon by 0.6% during the second quarter. Thrivent Financial for Lutherans now owns 140,326 shares of the financial services provider’s stock valued at $3,068,000 after purchasing an additional 788 shares during the last quarter. Wetherby Asset Management Inc. lifted its holdings in shares of First Horizon by 7.0% during the first quarter. Wetherby Asset Management Inc. now owns 12,152 shares of the financial services provider’s stock valued at $285,000 after purchasing an additional 800 shares during the last quarter. Finally, United Services Automobile Association lifted its holdings in shares of First Horizon by 2.5% during the second quarter. United Services Automobile Association now owns 34,254 shares of the financial services provider’s stock valued at $386,000 after purchasing an additional 836 shares during the last quarter. 80.28% of the stock is owned by institutional investors.

First Horizon Trading Down 0.9 %

Shares of FHN stock opened at $13.91 on Wednesday. First Horizon Co. has a 1 year low of $8.99 and a 1 year high of $18.99. The firm has a fifty day moving average price of $14.51 and a 200-day moving average price of $13.33. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.95 and a quick ratio of 0.94. The company has a market cap of $7.72 billion, a price-to-earnings ratio of 9.09, a PEG ratio of 3.98 and a beta of 0.94.

First Horizon (NYSE:FHN) last released its earnings results on Thursday, January 18th. The financial services provider reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. First Horizon had a net margin of 17.80% and a return on equity of 9.94%. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $784.20 million. During the same quarter in the previous year, the company earned $0.51 EPS. As a group, equities analysts predict that First Horizon Co. will post 1.45 earnings per share for the current year.

First Horizon declared that its board has authorized a share repurchase plan on Tuesday, January 23rd that permits the company to buyback $650.00 million in outstanding shares. This buyback authorization permits the financial services provider to buy up to 7.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

First Horizon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date of this dividend was Thursday, March 14th. First Horizon’s dividend payout ratio (DPR) is 39.22%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FHN. StockNews.com downgraded shares of First Horizon from a “hold” rating to a “sell” rating in a research report on Wednesday, February 7th. Raymond James raised shares of First Horizon from an “outperform” rating to a “strong-buy” rating and raised their price target for the company from $13.00 to $17.00 in a research report on Friday, January 5th. Barclays began coverage on shares of First Horizon in a research report on Friday, March 8th. They set an “overweight” rating and a $18.00 price target for the company. Wedbush reissued an “outperform” rating and set a $17.00 price target on shares of First Horizon in a research report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. raised their price target on shares of First Horizon from $16.00 to $17.50 and gave the company a “neutral” rating in a research report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.00.

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.