Harmony Asset Management LLC Buys 13,439 Shares of First Horizon Co. (NYSE:FHN)

Harmony Asset Management LLC boosted its position in shares of First Horizon Co. (NYSE:FHN - Free Report) by 16.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 94,459 shares of the financial services provider's stock after buying an additional 13,439 shares during the period. Harmony Asset Management LLC's holdings in First Horizon were worth $1,902,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FHN. Millennium Management LLC boosted its stake in First Horizon by 102.3% during the fourth quarter. Millennium Management LLC now owns 21,285,306 shares of the financial services provider's stock valued at $428,686,000 after buying an additional 10,763,349 shares during the last quarter. Bank of New York Mellon Corp raised its position in First Horizon by 26.2% during the fourth quarter. Bank of New York Mellon Corp now owns 37,131,162 shares of the financial services provider's stock valued at $747,822,000 after purchasing an additional 7,715,191 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in First Horizon by 496.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,202,539 shares of the financial services provider's stock valued at $165,199,000 after purchasing an additional 6,827,040 shares during the period. Norges Bank purchased a new stake in First Horizon during the fourth quarter valued at approximately $132,418,000. Finally, Raymond James Financial Inc. purchased a new stake in First Horizon during the fourth quarter valued at approximately $102,467,000. 80.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on FHN shares. Citigroup upped their price objective on First Horizon from $24.00 to $25.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Bank of America upped their price objective on First Horizon from $23.00 to $24.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. Barclays decreased their price objective on First Horizon from $25.00 to $23.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Truist Financial assumed coverage on First Horizon in a research report on Tuesday, May 13th. They set a "hold" rating and a $21.00 price objective on the stock. Finally, Jefferies Financial Group assumed coverage on First Horizon in a report on Wednesday. They issued a "buy" rating and a $25.00 price target on the stock. Seven investment 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 data from MarketBeat, First Horizon has an average rating of "Moderate Buy" and an average price target of $22.41.

First Horizon Trading Up 0.1%

FHN traded up $0.02 during trading on Friday, hitting $19.78. 6,280,892 shares of the stock were exchanged, compared to its average volume of 6,189,955. The firm has a 50 day simple moving average of $18.51 and a 200 day simple moving average of $19.88. The firm has a market cap of $10.03 billion, a price-to-earnings ratio of 14.54, a P/E/G ratio of 1.19 and a beta of 0.59. First Horizon Co. has a 1 year low of $14.09 and a 1 year high of $22.44. 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 data on Wednesday, April 16th. The financial services provider reported $0.42 EPS for the quarter, topping the consensus estimate of $0.40 by $0.02. The company had revenue of $823.69 million for the quarter, compared to the consensus estimate 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 last year, the business posted $0.35 EPS. As a group, equities analysts expect that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders 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 yield of 3.03%. First Horizon's payout ratio is currently 41.67%.

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.