35,700 Shares in First Horizon Co. (NYSE:FHN) Acquired by nVerses Capital LLC

by · The Markets Daily

nVerses Capital LLC acquired a new position in First Horizon Co. (NYSE:FHN – Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 35,700 shares of the financial services provider’s stock, valued at approximately $554,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Millennium Management LLC boosted its stake in shares of First Horizon by 46.5% during the 2nd quarter. Millennium Management LLC now owns 14,370,699 shares of the financial services provider’s stock valued at $226,626,000 after buying an additional 4,558,129 shares during the period. LSV Asset Management boosted its stake in shares of First Horizon by 49.8% during the 1st quarter. LSV Asset Management now owns 13,333,738 shares of the financial services provider’s stock valued at $205,340,000 after buying an additional 4,434,929 shares during the period. Jupiter Asset Management Ltd. acquired a new stake in shares of First Horizon during the 2nd quarter valued at $66,779,000. Bank of New York Mellon Corp boosted its stake in shares of First Horizon by 13.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 32,389,497 shares of the financial services provider’s stock valued at $510,782,000 after buying an additional 3,870,946 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of First Horizon by 28.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 15,515,494 shares of the financial services provider’s stock valued at $244,647,000 after buying an additional 3,470,346 shares during the period. Institutional investors and hedge funds own 80.28% of the company’s stock.

First Horizon Stock Performance

Shares of FHN opened at $17.44 on Friday. The company has a market capitalization of $9.53 billion, a PE ratio of 12.19, a price-to-earnings-growth ratio of 1.27 and a beta of 0.88. First Horizon Co. has a one year low of $10.16 and a one year high of $17.68. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. The company’s fifty day moving average price is $15.83 and its 200 day moving average price is $15.56.

First Horizon (NYSE:FHN – Get Free Report) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $0.42 EPS for the quarter, topping the consensus estimate of $0.38 by $0.04. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $821.63 million. First Horizon had a net margin of 14.03% and a return on equity of 8.84%. During the same quarter last year, the firm posted $0.27 EPS. As a group, analysts expect that First Horizon Co. will post 1.46 earnings per share for the current year.

First Horizon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a $0.15 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.60 annualized dividend and a yield of 3.44%. First Horizon’s dividend payout ratio (DPR) is presently 41.96%.

Wall Street Analyst Weigh In

FHN has been the subject of a number of research reports. Stephens lifted their target price on shares of First Horizon from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday. StockNews.com raised shares of First Horizon from a “sell” rating to a “hold” rating in a research note on Saturday, July 20th. Barclays raised their price target on shares of First Horizon from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday. JPMorgan Chase & Co. cut their price target on shares of First Horizon from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Finally, Raymond James downgraded shares of First Horizon from a “strong-buy” rating to an “outperform” rating and set a $18.00 price target on the stock. in a report on Thursday, July 18th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $17.69.

Get Our Latest Stock Report on First Horizon

First Horizon Company Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding FHN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Horizon Co. (NYSE:FHN – Free Report).