Two Sigma Advisers LP Has $1.95 Million Stake in First Horizon Co. (NYSE:FHN)

Two Sigma Advisers LP decreased its holdings in First Horizon Co. (NYSE:FHN - Free Report) by 73.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 96,773 shares of the financial services provider's stock after selling 272,100 shares during the period. Two Sigma Advisers LP's holdings in First Horizon were worth $1,949,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Belpointe Asset Management LLC lifted its holdings in shares of First Horizon by 3.1% in the 4th quarter. Belpointe Asset Management LLC now owns 17,631 shares of the financial services provider's stock worth $355,000 after buying an additional 535 shares during the period. Steward Partners Investment Advisory LLC increased its position in First Horizon by 3.8% during the 4th 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 period. Farther Finance Advisors LLC raised its holdings 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 valued at $52,000 after purchasing an additional 591 shares in the last quarter. Independent Advisor Alliance boosted 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 valued at $1,163,000 after purchasing an additional 632 shares in the last quarter. Finally, Access Investment Management LLC grew its stake in First Horizon by 0.8% in the fourth quarter. Access Investment Management LLC now owns 88,490 shares of the financial services provider's stock valued at $1,782,000 after purchasing an additional 675 shares during the last quarter. 80.28% of the stock is owned by hedge funds and other institutional investors.

First Horizon Price Performance

Shares of FHN traded down $0.09 during mid-day trading on Monday, hitting $19.80. 1,742,496 shares of the company traded hands, compared to its average volume of 6,164,508. First Horizon Co. has a one year low of $14.09 and a one year 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. The business has a 50-day moving average of $18.57 and a 200 day moving average of $19.89. The stock has a market capitalization of $10.04 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 1.19 and a beta of 0.59.

First Horizon (NYSE:FHN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating 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 period last year, the firm earned $0.35 earnings per share. As a group, equities analysts expect that First Horizon Co. will post 1.67 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a $0.15 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.60 annualized dividend and a yield of 3.03%. First Horizon's dividend payout ratio (DPR) is presently 41.67%.

Analysts Set New Price Targets

Several research analysts recently weighed in on FHN shares. Wall Street Zen upgraded First Horizon from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. Bank of America upped their price target on First Horizon from $23.00 to $24.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Truist Financial initiated coverage on First Horizon in a research note on Tuesday, May 13th. They issued a "hold" rating and a $21.00 price objective for the company. Wells Fargo & Company cut their price target on First Horizon from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. Finally, Citigroup upped their price objective on First Horizon from $24.00 to $25.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $22.41.

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.