First Horizon Co. (NYSE:FHN) Shares Purchased by Voloridge Investment Management LLC

Voloridge Investment Management LLC raised its stake in First Horizon Co. (NYSE:FHN - Free Report) by 16.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 412,724 shares of the financial services provider's stock after buying an additional 57,693 shares during the period. Voloridge Investment Management LLC owned approximately 0.08% of First Horizon worth $8,312,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp purchased a new position in shares of First Horizon during the 4th quarter worth approximately $30,000. Kentucky Trust Co purchased a new position in shares of First Horizon during the 4th quarter worth approximately $32,000. Lee Danner & Bass Inc. purchased a new position in shares of First Horizon during the 4th quarter worth approximately $50,000. Farther Finance Advisors LLC increased its stake in shares of First Horizon by 29.9% during the 4th 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 purchased a new position in shares of First Horizon during the 4th quarter worth approximately $66,000. 80.28% of the stock is owned by hedge funds and other institutional investors.

First Horizon Trading Down 1.0%

Shares of FHN traded down $0.20 during mid-day trading on Friday, reaching $19.92. The company had a trading volume of 1,131,691 shares, compared to its average volume of 6,147,085. The stock has a market cap of $10.10 billion, a price-to-earnings ratio of 14.64, a price-to-earnings-growth ratio of 1.19 and a beta of 0.59. The firm has a fifty day simple moving average of $18.57 and a 200-day simple moving average of $19.89. First Horizon Co. has a fifty-two week low of $14.09 and a fifty-two week high of $22.44. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14.

First Horizon (NYSE:FHN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.02. The company had revenue of $823.69 million for the quarter, compared to analyst estimates of $825.11 million. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. During the same quarter last year, the business earned $0.35 EPS. On average, sell-side analysts anticipate that First Horizon Co. will post 1.67 EPS for the current fiscal year.

First Horizon Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, June 13th. This represents a $0.60 annualized dividend and a dividend yield of 3.01%. First Horizon's payout ratio is 41.67%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Bank of America raised their price objective on shares of First Horizon from $23.00 to $24.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Royal Bank of Canada lowered their target price on shares of First Horizon from $24.00 to $22.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. Wall Street Zen raised shares of First Horizon from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. Keefe, Bruyette & Woods lowered their target price on shares of First Horizon from $24.00 to $22.00 and set a "market perform" rating for the company in a research note on Thursday, April 17th. Finally, Truist Financial started coverage on shares of First Horizon in a research note on Tuesday, May 13th. They issued a "hold" rating and a $21.00 target price for the company. Seven equities research 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. According to MarketBeat, First Horizon presently has an average rating of "Moderate Buy" and a consensus price target 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.