NorthRock Partners LLC Makes New Investment in First Horizon Co. (NYSE:FHN)

NorthRock Partners LLC acquired a new stake in shares of First Horizon Co. (NYSE:FHN - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,296 shares of the financial services provider's stock, valued at approximately $248,000.

Other hedge funds have also recently bought and sold shares of the company. Belpointe Asset Management LLC lifted its stake in shares of First Horizon by 3.1% during the 4th quarter. Belpointe Asset Management LLC now owns 17,631 shares of the financial services provider's stock worth $355,000 after purchasing an additional 535 shares during the period. Steward Partners Investment Advisory LLC increased its stake in First Horizon by 3.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 15,731 shares of the financial services provider's stock valued at $317,000 after purchasing an additional 571 shares during the last quarter. Farther Finance Advisors LLC increased its stake 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 valued at $52,000 after purchasing an additional 591 shares during the last quarter. Independent Advisor Alliance lifted its position in First Horizon by 1.1% during the fourth quarter. Independent Advisor Alliance now owns 57,730 shares of the financial services provider's stock worth $1,163,000 after buying an additional 632 shares during the period. Finally, Access Investment Management LLC boosted its stake in First Horizon by 0.8% in the 4th quarter. Access Investment Management LLC now owns 88,490 shares of the financial services provider's stock worth $1,782,000 after buying an additional 675 shares during the last quarter. Institutional investors and hedge funds own 80.28% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Jefferies Financial Group started coverage on shares of First Horizon in a report on Wednesday. They set a "buy" rating and a $25.00 price objective on the stock. Keefe, Bruyette & Woods dropped their price target on shares of First Horizon from $24.00 to $22.00 and set a "market perform" rating for the company in a research report 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. Raymond James dropped their price objective on First Horizon from $23.00 to $22.00 and set an "outperform" rating for the company in a report on Wednesday, April 2nd. Finally, Baird R W upgraded First Horizon from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Seven investment 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. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $22.41.

First Horizon Stock Performance

Shares of NYSE FHN traded down $0.06 during trading on Friday, reaching $19.70. The stock had a trading volume of 1,399,903 shares, compared to its average volume of 6,143,525. The firm's 50 day moving average price is $18.49 and its two-hundred day moving average price is $19.87. First Horizon Co. has a one year low of $14.09 and a one year high of $22.44. The stock has a market cap of $9.99 billion, a PE ratio of 14.52, 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 issued its earnings results on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.02. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. The firm had revenue of $823.69 million for the quarter, compared to analysts' expectations of $825.11 million. During the same quarter last year, the company posted $0.35 earnings per share. On average, research analysts forecast that First Horizon Co. will post 1.67 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date is Friday, June 13th. First Horizon's payout ratio is 41.67%.

About First Horizon

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.