Carolinas Wealth Consulting LLC Has $363,000 Position in First Horizon Co. (NYSE:FHN)

Carolinas Wealth Consulting LLC raised its stake in First Horizon Co. (NYSE:FHN - Free Report) by 359.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Barclays PLC lifted its position in First Horizon by 169.1% during the 3rd quarter. Barclays PLC now owns 1,886,828 shares of the financial services provider's stock worth $29,301,000 after acquiring an additional 1,185,772 shares during the period. Atomi Financial Group Inc. increased its stake in First Horizon by 20.0% in the 4th quarter. Atomi Financial Group Inc. now owns 14,883 shares of the financial services provider's stock valued at $300,000 after purchasing an additional 2,477 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in First Horizon by 13.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 125,933 shares of the financial services provider's stock valued at $2,536,000 after purchasing an additional 14,566 shares in the last quarter. First Citizens Bank & Trust Co. purchased a new position in First Horizon in the 4th quarter valued at approximately $304,000. Finally, KBC Group NV increased its stake in First Horizon by 249.8% in the 4th quarter. KBC Group NV now owns 166,961 shares of the financial services provider's stock valued at $3,363,000 after purchasing an additional 119,237 shares in the last quarter. Institutional investors and hedge funds own 80.28% of the company's stock.

First Horizon Price Performance

FHN traded down $0.27 during midday trading on Friday, reaching $19.84. 5,221,733 shares of the company's stock were exchanged, compared to its average volume of 6,176,518. The firm has a market capitalization of $10.06 billion, a price-to-earnings ratio of 14.59, a price-to-earnings-growth ratio of 1.19 and a beta of 0.59. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. First Horizon Co. has a one year low of $14.09 and a one year high of $22.44. The business has a 50-day simple moving average of $18.57 and a two-hundred day simple moving average of $19.89.

First Horizon (NYSE:FHN - Get Free Report) last posted 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. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. The company had revenue of $823.69 million during the quarter, compared to analysts' expectations 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 predict that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date is Friday, June 13th. First Horizon's dividend payout ratio (DPR) is currently 41.67%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on FHN shares. Wells Fargo & Company lowered their price objective on First Horizon from $22.00 to $20.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Jefferies Financial Group started coverage on First Horizon in a research note on Wednesday, May 21st. They issued a "buy" rating and a $25.00 price target on the stock. Barclays lowered their price objective on First Horizon from $25.00 to $23.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Royal Bank of Canada lowered their price objective on First Horizon from $24.00 to $22.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. Finally, Keefe, Bruyette & Woods lowered their target price on First Horizon from $24.00 to $22.00 and set a "market perform" 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 assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $22.41.

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.