First Horizon Co. (NYSE:FHN) Stock Holdings Lifted by Carolinas Wealth Consulting LLC

Carolinas Wealth Consulting LLC raised its position in shares of First Horizon Co. (NYSE:FHN - Free Report) by 359.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,998 shares of the financial services provider's stock after acquiring an additional 14,081 shares during the period. Carolinas Wealth Consulting LLC's holdings in First Horizon were worth $363,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of FHN. JPMorgan Chase & Co. lifted its stake in 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 worth $111,270,000 after acquiring an additional 3,400,811 shares during the period. First Citizens Bank & Trust Co. acquired a new position in shares of First Horizon during the fourth quarter valued at about $304,000. Smith Group Asset Management LLC acquired a new position in First Horizon in the 4th quarter worth approximately $1,813,000. Atria Investments Inc acquired a new position in First Horizon in the 4th quarter worth approximately $442,000. Finally, Johnson Investment Counsel Inc. grew its stake in shares of First Horizon by 2.8% during the 4th quarter. Johnson Investment Counsel Inc. now owns 2,661,592 shares of the financial services provider's stock worth $53,604,000 after purchasing an additional 72,339 shares during the period. Institutional investors own 80.28% of the company's stock.

First Horizon Stock Up 1.1%

Shares of FHN stock traded up $0.22 on Thursday, hitting $20.11. The stock had a trading volume of 3,573,899 shares, compared to its average volume of 6,166,978. First Horizon Co. has a 52-week low of $14.09 and a 52-week high of $22.44. The stock's 50 day moving average is $18.56 and its 200-day moving average is $19.89. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96. The firm has a market capitalization of $10.20 billion, a price-to-earnings ratio of 14.79, a P/E/G ratio of 1.19 and a beta of 0.59.

First Horizon (NYSE:FHN - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.02. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. The firm had revenue of $823.69 million during 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. As a group, research analysts expect that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.60 dividend on an annualized basis and a yield of 2.98%. First Horizon's dividend payout ratio (DPR) is presently 41.67%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Wells Fargo & Company decreased their target price on First Horizon from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. Truist Financial started coverage on First Horizon in a research note on Tuesday, May 13th. They issued a "hold" rating and a $21.00 price objective for the company. Bank of America boosted their target price on First Horizon from $23.00 to $24.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Jefferies Financial Group assumed coverage on First Horizon in a research note on Wednesday, May 21st. They issued a "buy" rating and a $25.00 price objective for the company. 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 report on Wednesday, April 2nd. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.41.

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.