MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows Holdings in First Horizon Co. (NYSE:FHN)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of First Horizon Co. (NYSE:FHN - Free Report) by 15.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 105,928 shares of the financial services provider's stock after purchasing an additional 14,105 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in First Horizon were worth $2,133,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Jones Financial Companies Lllp purchased a new position in First Horizon during the fourth quarter valued at $30,000. Kentucky Trust Co bought a new position in shares of First Horizon during the fourth quarter valued at $32,000. Lee Danner & Bass Inc. bought a new position in shares of First Horizon during the fourth quarter valued at $50,000. Farther Finance Advisors LLC raised its position in shares of First Horizon by 29.9% in 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 during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of First Horizon by 335.6% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider's stock worth $52,000 after purchasing an additional 2,000 shares during the last quarter. 80.28% of the stock is owned by institutional investors.

First Horizon Stock Performance

Shares of NYSE:FHN traded up $0.27 during trading on Tuesday, hitting $20.04. The company's stock had a trading volume of 723,747 shares, compared to its average volume of 6,168,846. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95. The firm has a market cap of $10.16 billion, a price-to-earnings ratio of 14.73, a P/E/G ratio of 1.19 and a beta of 0.59. The company has a 50-day moving average of $18.53 and a 200-day moving average of $19.89. First Horizon Co. has a 12 month low of $14.09 and a 12 month high of $22.44.

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. The business had revenue of $823.69 million for the quarter, compared to the consensus estimate of $825.11 million. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. During the same period last year, the firm earned $0.35 earnings per share. On average, sell-side analysts expect that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given 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 2.99%. First Horizon's dividend payout ratio (DPR) is presently 41.67%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on FHN shares. Barclays reduced their price objective on shares of First Horizon from $25.00 to $23.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Raymond James decreased their price objective on shares of First Horizon from $23.00 to $22.00 and set an "outperform" rating for the company in a report on Wednesday, April 2nd. Citigroup increased their target price on First Horizon from $24.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Robert W. Baird raised First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 target price for the company in a report on Monday, April 7th. Finally, Wall Street Zen raised First Horizon from a "sell" rating to a "hold" rating in a report on Monday, May 12th. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock 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.