Dimensional Fund Advisors LP Buys 97,429 Shares of First Horizon Co. (NYSE:FHN)

Dimensional Fund Advisors LP boosted its stake in First Horizon Co. (NYSE:FHN - Free Report) by 0.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,869,403 shares of the financial services provider's stock after purchasing an additional 97,429 shares during the quarter. Dimensional Fund Advisors LP owned about 3.75% of First Horizon worth $400,173,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in shares of First Horizon by 160.1% in the 4th quarter. JPMorgan Chase & Co. now owns 5,524,827 shares of the financial services provider's stock valued at $111,270,000 after acquiring an additional 3,400,811 shares during the last quarter. First Citizens Bank & Trust Co. bought a new stake in First Horizon in the fourth quarter valued at approximately $304,000. Merit Financial Group LLC acquired a new stake in First Horizon in the fourth quarter worth $453,000. Smith Group Asset Management LLC bought a new position in shares of First Horizon during the fourth quarter worth $1,813,000. Finally, Atria Investments Inc acquired a new position in shares of First Horizon in the 4th quarter valued at $442,000. Institutional investors and hedge funds own 80.28% of the company's stock.

First Horizon Stock Performance

Shares of FHN traded up $0.24 during trading hours on Friday, hitting $18.01. The company had a trading volume of 1,524,878 shares, compared to its average volume of 6,322,123. The business has a fifty day moving average of $18.83 and a 200-day moving average of $19.55. 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 firm has a market cap of $9.26 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 1.19 and a beta of 0.60. First Horizon Co. has a 12 month low of $14.09 and a 12 month high of $22.44.

First Horizon (NYSE:FHN - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $823.69 million during the quarter, compared to analysts' expectations 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 previous year, the company posted $0.35 earnings per share. Equities analysts anticipate that First Horizon Co. will post 1.67 EPS for the current fiscal year.

First Horizon Announces Dividend

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 dividend yield of 3.33%. First Horizon's payout ratio is presently 41.67%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on FHN shares. Robert W. Baird upgraded First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 target price on the stock in a report on Monday, April 7th. Raymond James decreased their price objective on First Horizon from $23.00 to $22.00 and set an "outperform" rating for the company in a research report on Wednesday, April 2nd. Bank of America lifted their price target on shares of First Horizon from $23.00 to $24.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Citigroup boosted their price objective on shares of First Horizon from $24.00 to $25.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Finally, Royal Bank of Canada dropped their price target on First Horizon from $24.00 to $22.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Six 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 company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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.