Bridgewater Associates LP Invests $903,000 in First Horizon Co. (NYSE:FHN)

Bridgewater Associates LP acquired a new stake in First Horizon Co. (NYSE:FHN - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 44,841 shares of the financial services provider's stock, valued at approximately $903,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FHN. Versant Capital Management Inc boosted its holdings in First Horizon by 160.1% in the fourth quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider's stock worth $29,000 after acquiring an additional 884 shares in the last quarter. Jones Financial Companies Lllp bought a new position in shares of First Horizon in the 4th quarter worth $30,000. Kentucky Trust Co bought a new position in shares of First Horizon in the 4th quarter worth $32,000. Lee Danner & Bass Inc. acquired a new stake in First Horizon in the 4th quarter valued at $50,000. Finally, Farther Finance Advisors LLC increased 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 valued at $52,000 after purchasing an additional 591 shares in the last quarter. 80.28% of the stock is owned by institutional investors.

First Horizon Stock Performance

Shares of NYSE:FHN traded up $0.31 during mid-day trading on Wednesday, reaching $17.39. The company had a trading volume of 5,455,627 shares, compared to its average volume of 6,334,109. First Horizon Co. has a one year low of $14.09 and a one year high of $22.44. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The company's 50-day moving average price is $19.01 and its 200-day moving average price is $19.55. The firm has a market cap of $8.94 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.19 and a beta of 0.60.

First Horizon (NYSE:FHN - Get Free Report) last issued its 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. The firm 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 period in the previous year, the company posted $0.35 earnings per share. As a group, equities research analysts anticipate that First Horizon Co. will post 1.67 EPS for the current fiscal year.

First Horizon Dividend Announcement

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

Wall Street Analyst Weigh In

FHN has been the subject of a number of analyst reports. 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 report on Monday, April 7th. Stephens reiterated an "overweight" rating and set a $24.00 price target on shares of First Horizon in a research note on Friday, January 17th. Baird R W raised First Horizon from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Royal Bank of Canada dropped their target price on First Horizon from $24.00 to $22.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Finally, JPMorgan Chase & Co. upped their price target on First Horizon from $22.50 to $23.50 and gave the stock a "neutral" rating in a report on Friday, January 17th. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $22.03.

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.