375,912 Shares in First Horizon Co. (NYSE:FHN) Bought by Polar Capital Holdings Plc

Polar Capital Holdings Plc bought a new position in First Horizon Co. (NYSE:FHN) in the 4th quarter, HoldingsChannel.com reports. The firm bought 375,912 shares of the financial services provider’s stock, valued at approximately $7,571,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FHN. Barclays PLC lifted its position in First Horizon by 169.1% in the third quarter. Barclays PLC now owns 1,886,828 shares of the financial services provider’s stock worth $29,301,000 after purchasing an additional 1,185,772 shares during the period. Gateway Investment Advisers LLC lifted its holdings in shares of First Horizon by 8.8% during the fourth quarter. Gateway Investment Advisers LLC now owns 68,593 shares of the financial services provider’s stock valued at $1,381,000 after acquiring an additional 5,553 shares during the period. Ritholtz Wealth Management bought a new position in shares of First Horizon during the fourth quarter valued at $352,000. Merit Financial Group LLC bought a new position in shares of First Horizon during the fourth quarter valued at $453,000. Finally, Krilogy Financial LLC bought a new position in shares of First Horizon during the fourth quarter valued at $261,000. 80.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Wells Fargo & Company cut their price objective on First Horizon from $22.00 to $20.00 and set an “equal weight” rating for the company in a report on Wednesday, April 9th. Truist Financial initiated coverage on First Horizon in a report on Tuesday. They set a “hold” rating and a $21.00 price objective for the company. Barclays cut their price target on First Horizon from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. JPMorgan Chase & Co. lifted their price target on First Horizon from $22.50 to $23.50 and gave the company a “neutral” rating in a report on Friday, January 17th. Finally, Baird R W raised First Horizon from a “hold” rating to a “strong-buy” rating in a report on Monday, April 7th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, First Horizon currently has an average rating of “Moderate Buy” and a consensus target price of $21.97.

First Horizon Price Performance

Shares of FHN stock opened at $20.31 on Friday. The firm has a market cap of $10.30 billion, a price-to-earnings ratio of 14.93, a PEG ratio of 1.19 and a beta of 0.59. First Horizon Co. has a 12 month low of $14.09 and a 12 month high of $22.44. The stock has a 50-day moving average price of $18.36 and a 200 day moving average price of $19.77. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14.

First Horizon (NYSE:FHN) last posted its earnings results on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.02. The company had revenue of $823.69 million during 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 period in the previous year, the company earned $0.35 EPS. Research analysts expect that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, June 13th. This represents a $0.60 annualized dividend and a dividend yield of 2.95%. First Horizon’s payout ratio is currently 41.67%.

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.