First Horizon Co. (NYSE:FHN) Shares Acquired by Algert Global LLC

Algert Global LLC lifted its stake in shares of First Horizon Co. (NYSE:FHN - Free Report) by 49.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 796,476 shares of the financial services provider's stock after acquiring an additional 262,294 shares during the quarter. First Horizon makes up approximately 0.4% of Algert Global LLC's holdings, making the stock its 20th biggest position. Algert Global LLC owned about 0.15% of First Horizon worth $16,041,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FHN. Bank of New York Mellon Corp increased its stake in shares of First Horizon by 26.2% in the fourth quarter. Bank of New York Mellon Corp now owns 37,131,162 shares of the financial services provider's stock worth $747,822,000 after purchasing an additional 7,715,191 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in First Horizon by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 19,869,403 shares of the financial services provider's stock worth $400,173,000 after buying an additional 97,429 shares in the last quarter. Norges Bank bought a new stake in First Horizon during the fourth quarter valued at about $132,418,000. JPMorgan Chase & Co. lifted its position in shares of First Horizon by 160.1% in the fourth 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 in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of First Horizon in the fourth quarter worth about $102,467,000. Institutional investors own 80.28% of the company's stock.

First Horizon Stock Up 3.6 %

NYSE:FHN traded up $0.68 during mid-day trading on Thursday, reaching $19.28. The company's stock had a trading volume of 4,428,017 shares, compared to its average volume of 6,143,161. 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 capitalization of $9.91 billion, a PE ratio of 14.17, a price-to-earnings-growth ratio of 1.19 and a beta of 0.59. The stock has a fifty day moving average of $18.30 and a 200-day moving average of $19.67. First Horizon Co. has a 1 year low of $14.09 and a 1 year 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, beating the consensus estimate of $0.40 by $0.02. The company had revenue of $823.69 million for the quarter, compared to analyst estimates of $825.11 million. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. During the same period last year, the company posted $0.35 earnings per share. Equities research analysts forecast that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, June 13th. This represents a $0.60 dividend on an annualized basis and a yield of 3.11%. First Horizon's payout ratio is 41.67%.

Analyst Ratings Changes

A number of research firms recently commented on FHN. Stephens reissued an "overweight" rating and issued a $24.00 price target on shares of First Horizon in a report on Friday, January 17th. Baird R W upgraded First Horizon from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Barclays reduced their price objective on First Horizon from $25.00 to $23.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Citigroup raised their target price on shares of First Horizon from $24.00 to $25.00 and gave the company a "buy" rating in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. increased their price objective on shares of First Horizon from $22.50 to $23.50 and gave the company a "neutral" rating in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $22.03.

First Horizon 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.