International Private Wealth Advisors LLC Invests $228,000 in First Horizon Co. (NYSE:FHN)

International Private Wealth Advisors LLC acquired a new position in shares of First Horizon Co. (NYSE:FHN) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 11,735 shares of the financial services provider’s stock, valued at approximately $228,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Jones Financial Companies Lllp purchased a new position in First Horizon in the fourth quarter worth $30,000. Kentucky Trust Co purchased a new stake in shares of First Horizon during the 4th quarter valued at $32,000. Lee Danner & Bass Inc. acquired a new stake in shares of First Horizon in the 4th quarter worth $50,000. Farther Finance Advisors LLC grew its stake in First Horizon by 29.9% during the 4th quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider’s stock worth $52,000 after buying an additional 591 shares during the last quarter. Finally, Versant Capital Management Inc increased its position in First Horizon by 137.5% during the 1st quarter. Versant Capital Management Inc now owns 3,411 shares of the financial services provider’s stock valued at $66,000 after buying an additional 1,975 shares in the last quarter. Hedge funds and other institutional investors own 80.28% of the company’s stock.

First Horizon Stock Performance

Shares of FHN stock opened at $20.43 on Monday. First Horizon Co. has a 52-week low of $14.09 and a 52-week high of $22.44. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. The stock has a market cap of $10.36 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 1.19 and a beta of 0.61. The business has a 50-day simple moving average of $18.64 and a 200-day simple moving average of $19.88.

First Horizon (NYSE:FHN) last released its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.42 EPS for the quarter, topping the consensus estimate of $0.40 by $0.02. The business had revenue of $823.69 million for the quarter, compared to analyst estimates of $825.11 million. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. During the same quarter in the prior year, the firm posted $0.35 EPS. On average, equities analysts expect that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date is Friday, June 13th. First Horizon’s dividend payout ratio (DPR) is presently 41.67%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on FHN. Keefe, Bruyette & Woods dropped 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. 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. Jefferies Financial Group assumed coverage on shares of First Horizon in a research note on Wednesday, May 21st. They set a “buy” rating and a $25.00 price target on the stock. Truist Financial started coverage on shares of First Horizon in a research note on Tuesday, May 13th. They set a “hold” rating and a $21.00 price objective for the company. Finally, Citigroup upped their target price on First Horizon from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, First Horizon currently has an average rating of “Moderate Buy” and an average price target of $22.41.

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.