First Horizon Co. (NYSE:FHN) Stock Holdings Cut by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. decreased its stake in First Horizon Co. (NYSE:FHN - Free Report) by 47.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,544 shares of the financial services provider's stock after selling 40,643 shares during the period. Lecap Asset Management Ltd.'s holdings in First Horizon were worth $692,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. UMB Bank n.a. lifted its stake in shares of First Horizon by 365.0% in the third quarter. UMB Bank n.a. now owns 1,688 shares of the financial services provider's stock worth $26,000 after acquiring an additional 1,325 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in shares of First Horizon in the first quarter worth about $28,000. Family Firm Inc. acquired a new position in shares of First Horizon in the second quarter worth about $28,000. Nemes Rush Group LLC lifted its stake in shares of First Horizon by 306.2% in the second quarter. Nemes Rush Group LLC now owns 1,828 shares of the financial services provider's stock worth $29,000 after acquiring an additional 1,378 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. acquired a new position in shares of First Horizon in the second quarter worth about $31,000. Hedge funds and other institutional investors own 80.28% of the company's stock.

Wall Street Analyst Weigh In

FHN has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their price target on First Horizon from $19.00 to $18.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 9th. Robert W. Baird set a $17.00 price objective on First Horizon in a research note on Thursday, October 17th. Wedbush cut First Horizon from an "outperform" rating to a "neutral" rating and cut their price objective for the company from $20.00 to $17.00 in a research note on Tuesday, September 24th. Evercore ISI cut their price objective on First Horizon from $18.50 to $18.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 2nd. Finally, StockNews.com upgraded First Horizon from a "sell" rating to a "hold" rating in a research note on Saturday, July 20th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $17.77.

First Horizon Stock Performance

Shares of First Horizon stock traded down $0.39 on Friday, reaching $17.09. 5,671,662 shares of the company were exchanged, compared to its average volume of 6,596,161. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95. The company's 50-day moving average is $16.05 and its two-hundred day moving average is $15.65. The firm has a market cap of $9.35 billion, a price-to-earnings ratio of 11.95, a P/E/G ratio of 1.27 and a beta of 0.88. First Horizon Co. has a 1-year low of $10.34 and a 1-year high of $17.68.

First Horizon (NYSE:FHN - Get Free Report) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.04. First Horizon had a return on equity of 8.84% and a net margin of 14.03%. The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $821.63 million. During the same period in the prior year, the company posted $0.27 EPS. As a group, research analysts expect that First Horizon Co. will post 1.46 earnings per share for the current fiscal year.

About First Horizon

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.