Vise Technologies Inc. Invests $275,000 in First Horizon Co. (NYSE:FHN)

Vise Technologies Inc. bought a new position in shares of First Horizon Co. (NYSE:FHN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 13,676 shares of the financial services provider's stock, valued at approximately $275,000.

Other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in First Horizon by 160.1% during the 4th quarter. JPMorgan Chase & Co. now owns 5,524,827 shares of the financial services provider's stock worth $111,270,000 after acquiring an additional 3,400,811 shares during the last quarter. First Citizens Bank & Trust Co. bought a new stake in First Horizon during the 4th quarter worth approximately $304,000. Smith Group Asset Management LLC bought a new stake in shares of First Horizon in the 4th quarter valued at $1,813,000. Atria Investments Inc bought a new stake in shares of First Horizon in the 4th quarter valued at $442,000. Finally, Johnson Investment Counsel Inc. boosted its stake in shares of First Horizon by 2.8% in the 4th quarter. Johnson Investment Counsel Inc. now owns 2,661,592 shares of the financial services provider's stock valued at $53,604,000 after purchasing an additional 72,339 shares during the last quarter. 80.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

FHN has been the topic of a number of analyst reports. Robert W. Baird raised shares of First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 price objective on the stock in a research note on Monday, April 7th. Raymond James reduced their price objective on shares of First Horizon from $23.00 to $22.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 2nd. Jefferies Financial Group assumed coverage on shares of First Horizon in a research note on Wednesday, May 21st. They set a "buy" rating and a $25.00 target price on the stock. Barclays cut their target price on shares of First Horizon from $25.00 to $23.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods cut their target price on shares of First Horizon from $24.00 to $22.00 and set a "market perform" rating on the stock in a research note on Thursday, April 17th. Seven 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. According to MarketBeat.com, First Horizon currently has a consensus rating of "Moderate Buy" and an average target price of $22.41.

First Horizon Stock Performance

NYSE FHN traded down $0.27 during trading hours on Friday, reaching $19.84. 5,221,733 shares of the company were exchanged, compared to its average volume of 6,182,056. First Horizon Co. has a 1 year low of $14.09 and a 1 year high of $22.44. The business's 50 day simple moving average is $18.57 and its 200-day simple moving average is $19.89. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $10.06 billion, a P/E ratio of 14.59, a P/E/G ratio of 1.19 and a beta of 0.59.

First Horizon (NYSE:FHN - Get Free Report) last released 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 return on equity of 10.10% and a net margin of 15.38%. The business had revenue of $823.69 million during the quarter, compared to the consensus estimate of $825.11 million. During the same period last year, the business posted $0.35 earnings per share. On average, equities research analysts expect that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Announces Dividend

The firm 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. This represents a $0.60 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend is Friday, June 13th. First Horizon's dividend payout ratio (DPR) is presently 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.