Waverly Advisors LLC Acquires Shares of 10,087 First Horizon Co. (NYSE:FHN)

Waverly Advisors LLC bought a new position in shares of First Horizon Co. (NYSE:FHN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,087 shares of the financial services provider’s stock, valued at approximately $203,000.

Several other hedge funds have also made changes to their positions in FHN. Jones Financial Companies Lllp purchased a new position in First Horizon during the fourth quarter worth about $30,000. Kentucky Trust Co acquired a new stake in First Horizon during the fourth quarter worth approximately $32,000. Lee Danner & Bass Inc. acquired a new stake in First Horizon during the fourth quarter worth approximately $50,000. Farther Finance Advisors LLC boosted its position in First Horizon by 29.9% during the fourth quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 591 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in First Horizon during the fourth quarter worth approximately $66,000. Institutional investors and hedge funds own 80.28% of the company’s stock.

First Horizon Price Performance

NYSE FHN opened at $19.78 on Tuesday. The company has a 50 day simple moving average of $18.53 and a 200-day simple moving average of $19.89. 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 52-week low of $14.09 and a 52-week high of $22.44. The firm has a market capitalization of $10.03 billion, a price-to-earnings ratio of 14.54, a price-to-earnings-growth ratio of 1.19 and a beta of 0.59.

First Horizon (NYSE:FHN) last released its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.02. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. The business had revenue of $823.69 million during the quarter, compared to analyst estimates of $825.11 million. During the same quarter in the previous year, the business earned $0.35 EPS. Equities research analysts predict that First Horizon Co. will post 1.67 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The company 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 of this dividend is Friday, June 13th. This represents a $0.60 annualized dividend and a yield of 3.03%. First Horizon’s dividend payout ratio (DPR) is 41.67%.

Wall Street Analyst Weigh In

FHN has been the topic of a number of analyst reports. Citigroup raised their target price on shares of First Horizon from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Raymond James decreased their price target on shares of First Horizon from $23.00 to $22.00 and set an “outperform” rating on the stock in a report on Wednesday, April 2nd. Jefferies Financial Group started coverage on shares of First Horizon in a report on Wednesday, May 21st. They issued a “buy” rating and a $25.00 price target on the stock. Wells Fargo & Company decreased their price target on shares of First Horizon from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 9th. Finally, Robert W. Baird upgraded shares of First Horizon from a “neutral” rating to an “outperform” rating and set a $22.00 target price on the stock in a report on Monday, April 7th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, First Horizon presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.41.

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.