Universal Beteiligungs und Servicegesellschaft mbH Buys New Stake in First Horizon Co. (NYSE:FHN)

Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in First Horizon Co. (NYSE:FHN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 340,500 shares of the financial services provider's stock, valued at approximately $6,858,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.06% of First Horizon as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Barclays PLC grew its position in First Horizon by 169.1% during the third quarter. Barclays PLC now owns 1,886,828 shares of the financial services provider's stock valued at $29,301,000 after acquiring an additional 1,185,772 shares during the period. KBC Group NV raised its holdings in shares of First Horizon by 249.8% in the 4th quarter. KBC Group NV now owns 166,961 shares of the financial services provider's stock worth $3,363,000 after purchasing an additional 119,237 shares during the period. Pacer Advisors Inc. lifted its stake in shares of First Horizon by 1.1% in the 4th quarter. Pacer Advisors Inc. now owns 79,022 shares of the financial services provider's stock valued at $1,592,000 after purchasing an additional 824 shares in the last quarter. Perigon Wealth Management LLC grew its holdings in shares of First Horizon by 9.9% during the 4th quarter. Perigon Wealth Management LLC now owns 12,698 shares of the financial services provider's stock worth $271,000 after purchasing an additional 1,149 shares during the period. Finally, R Squared Ltd acquired a new stake in First Horizon during the 4th quarter worth approximately $66,000. Hedge funds and other institutional investors own 80.28% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Barclays reduced their price target on shares of First Horizon from $25.00 to $23.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Baird R W raised First Horizon from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Raymond James lowered their target price on First Horizon from $23.00 to $22.00 and set an "outperform" rating for the company in a research note on Wednesday, April 2nd. Bank of America boosted their price target on First Horizon from $23.00 to $24.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Finally, Royal Bank of Canada decreased their price target on First Horizon from $24.00 to $22.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, First Horizon has a consensus rating of "Moderate Buy" and an average target price of $22.41.

First Horizon Stock Down 0.3%

NYSE:FHN traded down $0.06 during trading hours on Monday, hitting $19.83. 3,978,160 shares of the company's stock traded hands, compared to its average volume of 6,173,189. The stock's fifty day moving average price is $18.57 and its two-hundred day moving average price is $19.89. The firm has a market cap of $10.06 billion, a P/E ratio of 14.58, a P/E/G ratio of 1.19 and a beta of 0.59. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96. 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 issued its earnings results on Wednesday, April 16th. The financial services provider reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.02. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. The firm had revenue of $823.69 million for the quarter, compared to the consensus estimate of $825.11 million. During the same quarter in the previous year, the company posted $0.35 earnings per share. On average, research analysts expect that First Horizon Co. will post 1.67 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.03%. The ex-dividend date is Friday, June 13th. 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.