Wealth Enhancement Advisory Services LLC Acquires 17,934 Shares of First Horizon Co. (NYSE:FHN)

Wealth Enhancement Advisory Services LLC grew its holdings in First Horizon Co. (NYSE:FHN - Free Report) by 13.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 152,291 shares of the financial services provider's stock after purchasing an additional 17,934 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in First Horizon were worth $3,067,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Millennium Management LLC lifted its stake in First Horizon by 102.3% in the 4th quarter. Millennium Management LLC now owns 21,285,306 shares of the financial services provider's stock worth $428,686,000 after acquiring an additional 10,763,349 shares in the last quarter. Bank of New York Mellon Corp grew its stake in First Horizon by 26.2% during the 4th quarter. Bank of New York Mellon Corp now owns 37,131,162 shares of the financial services provider's stock valued at $747,822,000 after acquiring an additional 7,715,191 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of First Horizon by 496.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,202,539 shares of the financial services provider's stock valued at $165,199,000 after purchasing an additional 6,827,040 shares during the period. Norges Bank purchased a new stake in shares of First Horizon in the fourth quarter worth approximately $132,418,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of First Horizon during the fourth quarter worth approximately $102,467,000. Institutional investors and hedge funds own 80.28% of the company's stock.

First Horizon Stock Performance

First Horizon stock traded up $0.47 during trading hours on Friday, reaching $20.43. 5,277,405 shares of the company were exchanged, compared to its average volume of 6,129,464. First Horizon Co. has a 12 month low of $14.09 and a 12 month 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 stock has a 50-day moving average of $18.64 and a 200 day moving average of $19.88. The firm has a market cap of $10.36 billion, a price-to-earnings ratio of 15.02, a PEG ratio of 1.19 and a beta of 0.61.

First Horizon (NYSE:FHN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping 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 business had revenue of $823.69 million during the quarter, compared to the consensus estimate of $825.11 million. During the same period in the prior year, the firm earned $0.35 EPS. As a group, research analysts anticipate that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date is Friday, June 13th. First Horizon's dividend payout ratio (DPR) is 41.67%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Citigroup upped their price objective on shares of 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 shares of First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 price target on the stock in a research note on Monday, April 7th. Bank of America increased their price objective on First Horizon from $23.00 to $24.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Wells Fargo & Company reduced their price objective on First Horizon from $22.00 to $20.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Finally, Keefe, Bruyette & Woods dropped their target price on First Horizon from $24.00 to $22.00 and set a "market perform" rating on the stock in a research report on Thursday, April 17th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price 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.