Thoroughbred Financial Services LLC increases stake in First Horizon Co. (NYSE:FHN)

Thoroughbred Financial Services LLC raised its stake in First Horizon Co. (NYSE:FHN – Free Report) by 11.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,941 shares of the financial services provider’s stock after buying an additional 1,470 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in First Horizon were worth $219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have added to or reduced their stakes in FHN. Rise Advisors LLC acquired a new stake in First Horizon in the 1st quarter valued at about $25,000. Raleigh Capital Management Inc. purchased a new stake in First Horizon during the fourth quarter valued at about $28,000. Fidelis Capital Partners LLC purchased a new stake in First Horizon in the first quarter valued at about $28,000. Family Firm Inc. purchased a new stake in First Horizon during the second quarter valued at about $28,000. Finally, Fortitude Family Office LLC raised its holdings in First Horizon by 129.3% in the first quarter. Fortitude Family Office LLC now owns 1,954 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 1,102 shares during the last quarter. 80.28% of the shares are held by hedge funds and other institutional investors.

Analysts set new price targets

FHN has been the subject of a number of analyst research reports. Royal Bank of Canada boosted their price objective on shares of First Horizon from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $18.00 target price on shares of First Horizon in a research report on Wednesday, July 17th. Jefferies Financial Group boosted their price target on First Horizon from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Barclays upped their target price on First Horizon from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Monday, June 24th. Finally, Raymond James downgraded First Horizon from a “strong-buy” rating to an “outperform” rating and set a $18.00 target price for the company. in a research report on Thursday, July 18th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.38.

Get the latest report on First Horizon

First Horizon stock fell 0.1%

NYSE FHN opened at $15.78 on Wednesday. The firm has a market cap of $8.63 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 3.09 and a beta of 0.88. First Horizon Co. it has a 52-week low of $10.08 and a 52-week high of $17.46. The company has a quick ratio of 0.95, a current ratio of 0.95, and a debt-to-equity ratio of 0.14. The company has a fifty day moving average of $15.98 and a two hundred day moving average of $15.42.

First Horizon (NYSE:FHN – Get Free Report ) last posted its earnings results on Wednesday, July 17th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $819.82 million. First Horizon had a net margin of 14.03% and a return on equity of 8.84%. During the same period last year, the firm posted earnings of $0.39 per share. On average, analysts predict that First Horizon Co. will post 1.46 earnings per share for the current year.

First Horizon announces dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a dividend of $0.15 per share. This represents a dividend of $0.60 on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend is Friday, September 13. First Horizon’s dividend payout ratio is currently 41.96%.

Profile of the First Horizon

(Free Report)

First Horizon Corporation operates as the bank holding company for First Horizon Bank which provides various financial services. The company operates through the Regional Banking and Specialty Banking segments. It provides general banking services for consumers, businesses, financial institutions and governments.

Further reading

Want to see what other hedge funds FHN owns? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for First Horizon Co. (NYSE:FHN – Free Report).

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