Tower Research Capital LLC TRC Raises Stock Position in First Horizon Co. (NYSE:FHN)

Tower Research Capital LLC TRC raised its holdings in First Horizon Co. (NYSE:FHN) by 96.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 63,421 shares of the financial services provider’s stock after purchasing an additional 31,068 shares during the quarter. Tower Research Capital LLC TRC’s holdings in First Horizon were worth $1,277,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Belpointe Asset Management LLC raised its stake in shares of First Horizon by 3.1% during the 4th quarter. Belpointe Asset Management LLC now owns 17,631 shares of the financial services provider’s stock worth $355,000 after buying an additional 535 shares during the period. Steward Partners Investment Advisory LLC raised its position in First Horizon by 3.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 15,731 shares of the financial services provider’s stock worth $317,000 after acquiring an additional 571 shares during the period. Farther Finance Advisors LLC lifted its holdings 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 valued at $52,000 after purchasing an additional 591 shares in the last quarter. Independent Advisor Alliance grew its position in shares of First Horizon by 1.1% in the fourth quarter. Independent Advisor Alliance now owns 57,730 shares of the financial services provider’s stock valued at $1,163,000 after purchasing an additional 632 shares during the period. Finally, Access Investment Management LLC raised its position in shares of First Horizon by 0.8% during the 4th quarter. Access Investment Management LLC now owns 88,490 shares of the financial services provider’s stock worth $1,782,000 after purchasing an additional 675 shares during the last quarter. Hedge funds and other institutional investors own 80.28% of the company’s stock.

First Horizon Price Performance

NYSE:FHN opened at $17.39 on Thursday. First Horizon Co. has a 12-month low of $14.09 and a 12-month high of $22.44. The firm has a market cap of $8.94 billion, a price-to-earnings ratio of 12.78, a price-to-earnings-growth ratio of 1.19 and a beta of 0.60. The company’s 50-day moving average is $18.92 and its two-hundred day moving average is $19.54. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14.

First Horizon (NYSE:FHN) last announced its earnings results on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. The firm had revenue of $823.69 million for the quarter, compared to analyst estimates of $825.11 million. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. During the same quarter last year, the business earned $0.35 earnings per share. Research analysts expect that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a $0.15 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.60 annualized dividend and a yield of 3.45%. First Horizon’s payout ratio is currently 41.67%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Citigroup raised their target price on First Horizon from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Barclays lowered their price target on shares of First Horizon from $25.00 to $23.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Raymond James reduced their price objective on shares of First Horizon from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Wednesday, April 2nd. Bank of America increased their target price on shares of First Horizon from $23.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, April 17th. Finally, Baird R W upgraded First Horizon from a “hold” rating to a “strong-buy” rating in a report on Monday, April 7th. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.03.

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.