Waters Parkerson & CO. LLC Has $3.39 Million Holdings in First Horizon Co. (NYSE:FHN)

Waters Parkerson & CO. LLC lifted its stake in shares of First Horizon Co. (NYSE:FHN - Free Report) by 203.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 168,477 shares of the financial services provider's stock after buying an additional 112,941 shares during the quarter. Waters Parkerson & CO. LLC's holdings in First Horizon were worth $3,393,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in shares of First Horizon by 160.1% during the fourth 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 period. First Citizens Bank & Trust Co. bought a new stake in First Horizon in the 4th quarter valued at $304,000. Merit Financial Group LLC acquired a new position in First Horizon in the 4th quarter valued at $453,000. Smith Group Asset Management LLC bought a new position in First Horizon during the 4th quarter worth $1,813,000. Finally, Atria Investments Inc acquired a new stake in shares of First Horizon during the fourth quarter worth $442,000. Institutional investors own 80.28% of the company's stock.

Analyst Ratings Changes

FHN has been the topic of a number of recent research reports. Royal Bank of Canada lowered their price target on shares of First Horizon from $24.00 to $22.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Wells Fargo & Company dropped their price objective on First Horizon from $22.00 to $20.00 and set an "equal weight" rating for the company in a report on Wednesday, April 9th. Jefferies Financial Group initiated coverage on First Horizon in a report on Wednesday. They set a "buy" rating and a $25.00 target price on the stock. Wall Street Zen raised First Horizon from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. Finally, Truist Financial started coverage on shares of First Horizon in a research report on Tuesday, May 13th. They set a "hold" rating and a $21.00 price objective for the company. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.41.

First Horizon Trading Up 0.1%

Shares of First Horizon stock traded up $0.02 on Friday, hitting $19.78. The stock had a trading volume of 5,300,888 shares, compared to its average volume of 6,162,125. First Horizon Co. has a twelve month low of $14.09 and a twelve month 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. The firm has a market capitalization of $10.03 billion, a P/E ratio of 14.54, a PEG ratio of 1.19 and a beta of 0.59. The stock has a 50 day moving average of $18.49 and a 200 day moving average of $19.87.

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 (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $825.11 million. During the same quarter last year, the firm earned $0.35 earnings per share. Sell-side analysts expect that First Horizon Co. will post 1.67 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

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 issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend is Friday, June 13th. First Horizon's payout ratio 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.