GTS Securities LLC Raises Stock Position in First Horizon Co. (NYSE:FHN)

GTS Securities LLC grew its position in First Horizon Co. (NYSE:FHN - Free Report) by 132.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,834 shares of the financial services provider's stock after purchasing an additional 19,278 shares during the period. GTS Securities LLC's holdings in First Horizon were worth $681,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp purchased a new stake in First Horizon in the fourth quarter valued at $30,000. Kentucky Trust Co purchased a new stake in shares of First Horizon in the fourth quarter worth about $32,000. Lee Danner & Bass Inc. acquired a new stake in First Horizon during the fourth quarter worth about $50,000. Farther Finance Advisors LLC raised its position in First Horizon by 29.9% during the fourth quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider's stock valued at $52,000 after acquiring an additional 591 shares in the last quarter. Finally, R Squared Ltd purchased a new position in First Horizon during the fourth quarter valued at approximately $66,000. Hedge funds and other institutional investors own 80.28% of the company's stock.

First Horizon Trading Down 1.3%

Shares of First Horizon stock traded down $0.27 during trading hours on Friday, hitting $19.84. The company's stock had a trading volume of 5,111,372 shares, compared to its average volume of 6,163,216. The stock has a market cap of $10.06 billion, a price-to-earnings ratio of 14.59, a P/E/G ratio of 1.19 and a beta of 0.59. First Horizon Co. has a twelve month low of $14.09 and a twelve month high of $22.44. The firm has a fifty day moving average of $18.57 and a 200-day moving average of $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.

First Horizon (NYSE:FHN - Get Free Report) last released its quarterly earnings results 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. The company had revenue of $823.69 million for the quarter, compared to analysts' expectations of $825.11 million. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. During the same period in the prior year, the firm earned $0.35 earnings per share. Research analysts forecast that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Dividend Announcement

The business 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 $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date is Friday, June 13th. First Horizon's dividend payout ratio is currently 41.67%.

Analyst Upgrades and Downgrades

Several research firms recently commented on FHN. Bank of America raised their price target on shares of First Horizon from $23.00 to $24.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. Keefe, Bruyette & Woods dropped their target price on First Horizon from $24.00 to $22.00 and set a "market perform" rating on the stock in a research report on Thursday, April 17th. Jefferies Financial Group initiated coverage on First Horizon in a report on Wednesday, May 21st. They issued a "buy" rating and a $25.00 price target for the company. Robert W. Baird upgraded First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 price objective for the company in a research report on Monday, April 7th. Finally, Wall Street Zen upgraded First Horizon from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average 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.