Tower Research Capital LLC TRC Acquires 31,068 Shares of First Horizon Co. (NYSE:FHN)

Tower Research Capital LLC TRC boosted its stake in shares of First Horizon Co. (NYSE:FHN - Free Report) by 96.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,421 shares of the financial services provider's stock after buying an additional 31,068 shares during the period. Tower Research Capital LLC TRC's holdings in First Horizon were worth $1,277,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Belpointe Asset Management LLC increased its stake in First Horizon by 3.1% during the 4th quarter. Belpointe Asset Management LLC now owns 17,631 shares of the financial services provider's stock valued at $355,000 after purchasing an additional 535 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of First Horizon by 3.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 15,731 shares of the financial services provider's stock valued at $317,000 after acquiring an additional 571 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in First Horizon by 29.9% in the 4th quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider's stock worth $52,000 after acquiring an additional 591 shares during the last quarter. Independent Advisor Alliance raised its holdings in First Horizon by 1.1% in the 4th quarter. Independent Advisor Alliance now owns 57,730 shares of the financial services provider's stock worth $1,163,000 after acquiring an additional 632 shares during the last quarter. Finally, Access Investment Management LLC lifted its position in First Horizon by 0.8% in the 4th quarter. Access Investment Management LLC now owns 88,490 shares of the financial services provider's stock valued at $1,782,000 after acquiring an additional 675 shares in the last quarter. Hedge funds and other institutional investors own 80.28% of the company's stock.

Analyst Upgrades and Downgrades

FHN has been the topic of a number of research analyst reports. Royal Bank of Canada lowered their price target on First Horizon from $24.00 to $22.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Wells Fargo & Company dropped their price target on shares of First Horizon from $22.00 to $20.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 9th. Bank of America boosted their price objective on shares of First Horizon from $23.00 to $24.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Citigroup raised their target price on shares of First Horizon from $24.00 to $25.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of First Horizon from $24.00 to $22.00 and set a "market perform" rating for the company 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, First Horizon currently has a consensus rating of "Moderate Buy" and an average price target of $22.03.

First Horizon Stock Performance

First Horizon stock traded up $0.04 during midday trading on Friday, hitting $17.81. The stock had a trading volume of 4,427,713 shares, compared to its average volume of 6,342,063. The firm's fifty day moving average is $18.74 and its two-hundred day moving average is $19.59. 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 has a market capitalization of $9.16 billion, a PE ratio of 13.10, a P/E/G ratio of 1.19 and a beta of 0.60. First Horizon Co. has a 52-week low of $14.09 and a 52-week high of $22.44.

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 for the quarter, topping the consensus estimate of $0.40 by $0.02. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. The company had revenue of $823.69 million during the quarter, compared to the consensus estimate of $825.11 million. During the same quarter in the prior year, the firm posted $0.35 EPS. On average, research analysts forecast that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a $0.15 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.37%. First Horizon's dividend payout ratio is currently 41.67%.

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.