Townsquare Capital LLC Increases Stake in First Horizon Co. (NYSE:FHN)

Townsquare Capital LLC boosted its holdings in shares of First Horizon Co. (NYSE:FHN - Free Report) by 135.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 34,928 shares of the financial services provider's stock after purchasing an additional 20,065 shares during the quarter. Townsquare Capital LLC's holdings in First Horizon were worth $703,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Versant Capital Management Inc lifted its holdings in shares of 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 buying an additional 884 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in shares of First Horizon during the fourth quarter valued at about $30,000. Kentucky Trust Co bought a new stake in shares of First Horizon in the fourth quarter worth about $32,000. Lee Danner & Bass Inc. purchased a new stake in shares of First Horizon in the fourth quarter worth about $50,000. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in First Horizon by 335.6% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider's stock valued at $52,000 after buying an additional 2,000 shares during the last quarter. 80.28% of the stock is owned by hedge funds and other institutional investors.

First Horizon Stock Up 2.3 %

First Horizon stock traded up $0.39 during mid-day trading on Wednesday, reaching $17.47. 3,663,744 shares of the company were exchanged, compared to its average volume of 6,456,092. First Horizon Co. has a 12-month low of $14.09 and a 12-month high of $22.44. The business has a fifty day moving average of $19.01 and a 200 day moving average of $19.55. The firm has a market cap of $8.98 billion, a P/E ratio of 12.85, a PEG ratio of 1.19 and a beta of 0.60. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96.

First Horizon (NYSE:FHN - Get Free Report) last announced its earnings results on Wednesday, April 16th. The financial services provider reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.02. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. The business had revenue of $823.69 million during the quarter, compared to the consensus estimate of $825.11 million. During the same period in the previous year, the company posted $0.35 earnings per share. Research analysts anticipate that First Horizon Co. will post 1.67 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend was Friday, March 14th. First Horizon's dividend payout ratio is currently 41.67%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Baird R W raised First Horizon from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. StockNews.com raised First Horizon from a "sell" rating to a "hold" rating in a research note on Tuesday, April 8th. Wells Fargo & Company lowered their price target on First Horizon from $22.00 to $20.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Stephens reiterated an "overweight" rating and set a $24.00 price objective on shares of First Horizon in a research report on Friday, January 17th. Finally, Barclays dropped their price target on shares of First Horizon from $25.00 to $23.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Six research 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 MarketBeat.com, the stock currently has a consensus 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.