Expect Equity LLC Makes New $3.32 Million Investment in First Horizon Co. (NYSE:FHN)

Expect Equity LLC acquired a new stake in First Horizon Co. (NYSE:FHN - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 165,025 shares of the financial services provider's stock, valued at approximately $3,324,000. First Horizon comprises approximately 3.5% of Expect Equity LLC's holdings, making the stock its 5th largest holding.

A number of other hedge funds have also recently bought and sold shares of FHN. Fiduciary Trust Co acquired a new position in shares of First Horizon in the 4th quarter valued at $308,000. Crestline Management LP lifted its stake in shares of First Horizon by 213.7% in the 4th quarter. Crestline Management LP now owns 139,626 shares of the financial services provider's stock valued at $2,812,000 after purchasing an additional 95,117 shares during the period. Brevan Howard Capital Management LP acquired a new position in shares of First Horizon in the 4th quarter valued at $2,945,000. Cary Street Partners Financial LLC acquired a new position in shares of First Horizon in the 4th quarter valued at $374,000. Finally, Balyasny Asset Management L.P. lifted its stake in shares of First Horizon by 37.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,168,268 shares of the financial services provider's stock valued at $43,669,000 after purchasing an additional 590,786 shares during the period. 80.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on FHN. Baird R W raised First Horizon from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Robert W. Baird raised First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 price objective on the stock in a research note on Monday, April 7th. StockNews.com raised First Horizon from a "sell" rating to a "hold" rating in a research note on Monday. Keefe, Bruyette & Woods dropped their price objective on First Horizon from $24.00 to $22.00 and set a "market perform" rating on the stock in a research note on Thursday, April 17th. Finally, Stephens reaffirmed an "overweight" rating and set a $24.00 price objective on shares of First Horizon in a research note on Friday, January 17th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $21.97.

First Horizon Stock Up 0.8%

Shares of NYSE:FHN traded up $0.17 during midday trading on Wednesday, reaching $20.37. The company had a trading volume of 3,200,237 shares, compared to its average volume of 6,134,632. 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 business's 50 day moving average price is $18.28 and its 200 day moving average price is $19.75. The stock has a market cap of $10.33 billion, a PE ratio of 14.98, a P/E/G ratio of 1.19 and a beta of 0.59. 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 released its earnings results on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.02. The business had revenue of $823.69 million for the quarter, compared to the consensus estimate of $825.11 million. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. During the same quarter in the previous year, the business earned $0.35 earnings per share. Research analysts forecast that First Horizon Co. will post 1.67 EPS for the current fiscal year.

First Horizon Dividend Announcement

The business 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 $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date is Friday, June 13th. First Horizon's dividend payout ratio is currently 41.67%.

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.