Voloridge Investment Management LLC Purchases 57,693 Shares of First Horizon Co. (NYSE:FHN)

Voloridge Investment Management LLC lifted its position in First Horizon Co. (NYSE:FHN - Free Report) by 16.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 412,724 shares of the financial services provider's stock after acquiring an additional 57,693 shares during the period. Voloridge Investment Management LLC owned about 0.08% of First Horizon worth $8,312,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Jones Financial Companies Lllp purchased a new position in First Horizon in the fourth quarter valued at about $30,000. Kentucky Trust Co acquired a new position in shares of First Horizon during the 4th quarter worth $32,000. Lee Danner & Bass Inc. bought a new position in shares of First Horizon during the 4th quarter valued at $50,000. Farther Finance Advisors LLC boosted its holdings in First Horizon by 29.9% in the fourth 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 in the last quarter. Finally, R Squared Ltd bought a new stake in shares of First Horizon during the 4th quarter worth about $66,000. Institutional investors and hedge funds own 80.28% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Citigroup lifted their price objective on First Horizon from $24.00 to $25.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Wall Street Zen upgraded shares of First Horizon from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. Bank of America increased their price target 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. Wells Fargo & Company dropped their price objective on shares of First Horizon from $22.00 to $20.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 9th. Finally, Jefferies Financial Group began coverage on shares of First Horizon in a research note on Wednesday, May 21st. They issued a "buy" rating and a $25.00 target price for the company. Seven 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 stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $22.41.

First Horizon Stock Down 1.4%

Shares of First Horizon stock traded down $0.28 on Wednesday, hitting $19.91. The company had a trading volume of 3,916,046 shares, compared to its average volume of 6,177,019. The stock has a 50 day moving average of $18.54 and a 200-day moving average of $19.89. First Horizon Co. has a 1 year low of $14.09 and a 1 year high of $22.44. The stock has a market capitalization of $10.10 billion, a price-to-earnings ratio of 14.64, 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 (NYSE:FHN - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.02. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. The business had revenue of $823.69 million for the quarter, compared to analysts' expectations of $825.11 million. During the same period in the previous year, the company earned $0.35 earnings per share. As a group, sell-side analysts forecast that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Friday, June 13th. First Horizon's dividend payout ratio is presently 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.