Bridgewater Associates LP Purchases New Shares in First Horizon Co. (NYSE:FHN)

Bridgewater Associates LP acquired a new position in First Horizon Co. (NYSE:FHN - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 44,841 shares of the financial services provider's stock, valued at approximately $903,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Versant Capital Management Inc grew its position in shares of First Horizon by 160.1% during the 4th 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 during the period. Jones Financial Companies Lllp acquired a new stake in First Horizon in the fourth quarter valued at $30,000. Kentucky Trust Co bought a new position in First Horizon during the 4th quarter worth $32,000. Lee Danner & Bass Inc. bought a new stake in shares of First Horizon during the 4th quarter worth $50,000. Finally, Farther Finance Advisors LLC raised its position in First Horizon by 29.9% during the 4th quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider's stock worth $52,000 after purchasing an additional 591 shares during the last quarter. Institutional investors own 80.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Baird R W raised shares of First Horizon from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Stephens reissued an "overweight" rating and issued a $24.00 price target on shares of First Horizon in a research note on Friday, January 17th. Bank of America boosted their target price 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. Barclays lowered their price objective on First Horizon from $25.00 to $23.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, Raymond James dropped their target price on First Horizon from $23.00 to $22.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 2nd. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, First Horizon has an average rating of "Moderate Buy" and a consensus price target of $22.03.

First Horizon Trading Up 0.9 %

NYSE:FHN traded up $0.16 during trading hours on Friday, reaching $17.93. 1,174,402 shares of the stock were exchanged, compared to its average volume of 6,320,544. 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 company has a market capitalization of $9.22 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 1.19 and a beta of 0.60. The business has a 50-day moving average of $18.83 and a two-hundred day moving average of $19.55. First Horizon Co. has a twelve month low of $14.09 and a twelve month high of $22.44.

First Horizon (NYSE:FHN - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.02. The business had revenue of $823.69 million during the quarter, compared to analysts' expectations 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 in the previous year, the company earned $0.35 EPS. On average, equities analysts predict that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a $0.15 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.60 annualized dividend and a dividend yield of 3.35%. First Horizon's dividend payout ratio (DPR) is currently 41.67%.

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.