Versant Capital Management Inc Acquires 1,975 Shares of First Horizon Co. (NYSE:FHN)

Versant Capital Management Inc boosted its holdings in shares of First Horizon Co. (NYSE:FHN) by 137.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,411 shares of the financial services provider’s stock after acquiring an additional 1,975 shares during the quarter. Versant Capital Management Inc’s holdings in First Horizon were worth $66,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in shares of First Horizon by 160.1% in the fourth quarter. JPMorgan Chase & Co. now owns 5,524,827 shares of the financial services provider’s stock worth $111,270,000 after buying an additional 3,400,811 shares during the last quarter. Atria Investments Inc acquired a new stake in shares of First Horizon in the fourth quarter worth $442,000. Johnson Investment Counsel Inc. lifted its stake in shares of First Horizon by 2.8% in the fourth quarter. Johnson Investment Counsel Inc. now owns 2,661,592 shares of the financial services provider’s stock worth $53,604,000 after buying an additional 72,339 shares during the last quarter. Versor Investments LP acquired a new stake in shares of First Horizon in the fourth quarter worth $294,000. Finally, Headlands Technologies LLC lifted its stake in shares of First Horizon by 505.8% in the fourth quarter. Headlands Technologies LLC now owns 36,178 shares of the financial services provider’s stock worth $729,000 after buying an additional 30,206 shares during the last quarter. Institutional investors own 80.28% of the company’s stock.

First Horizon Trading Down 0.8%

Shares of First Horizon stock opened at $19.92 on Thursday. The firm has a market capitalization of $10.10 billion, a PE ratio of 14.65, a price-to-earnings-growth ratio of 1.19 and a beta of 0.59. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95. The company’s fifty day moving average price is $18.60 and its two-hundred day moving average price is $19.88. First Horizon Co. has a 52-week low of $14.09 and a 52-week high of $22.44.

First Horizon (NYSE:FHN) last announced its quarterly earnings results 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 firm had revenue of $823.69 million for the quarter, compared to analyst estimates of $825.11 million. During the same quarter in the previous year, the firm posted $0.35 EPS. On average, analysts expect that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend is Friday, June 13th. First Horizon’s payout ratio is 41.67%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FHN. Robert W. Baird upgraded shares of First Horizon from a “neutral” rating to an “outperform” rating and set a $22.00 price objective for the company in a research note on Monday, April 7th. Bank of America boosted their target price on shares of First Horizon from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Truist Financial assumed coverage on shares of First Horizon in a research report on Tuesday, May 13th. They set a “hold” rating and a $21.00 target price on the stock. Raymond James dropped their target price on shares of First Horizon from $23.00 to $22.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 2nd. Finally, Baird R W raised shares of First Horizon from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 7th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.