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

Wealth Enhancement Advisory Services LLC raised its stake in shares of First Horizon Co. (NYSE:FHN - Free Report) by 13.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in FHN. Jones Financial Companies Lllp purchased a new position in First Horizon in the fourth quarter worth about $30,000. Kentucky Trust Co purchased a new stake in First Horizon during the fourth quarter valued at approximately $32,000. Lee Danner & Bass Inc. bought a new stake in shares of First Horizon in the 4th quarter valued at approximately $50,000. Farther Finance Advisors LLC boosted 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 worth $52,000 after purchasing an additional 591 shares during the period. Finally, BankPlus Trust Department purchased a new position in shares of First Horizon in the 4th quarter worth approximately $70,000. Hedge funds and other institutional investors own 80.28% of the company's stock.

First Horizon Stock Up 2.3%

NYSE FHN traded up $0.47 on Friday, reaching $20.43. 5,277,405 shares of the stock traded hands, compared to its average volume of 6,151,259. First Horizon Co. has a 12 month low of $14.09 and a 12 month high of $22.44. The company 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. The company has a fifty day moving average price of $18.61 and a 200-day moving average price of $19.88. 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 released its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.02. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. The firm had revenue of $823.69 million during the quarter, compared to the consensus estimate of $825.11 million. During the same period in the previous year, the company posted $0.35 earnings per share. As a group, research analysts forecast that First Horizon Co. will post 1.67 EPS for the current fiscal year.

First Horizon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.60 annualized dividend and a dividend yield of 2.94%. First Horizon's dividend payout ratio is currently 41.67%.

Analyst Ratings Changes

FHN has been the topic of several recent research reports. Bank of America increased their price target on First Horizon from $23.00 to $24.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Robert W. Baird upgraded shares of First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 target price for the company in a report on Monday, April 7th. Wall Street Zen raised shares of First Horizon from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. Barclays cut their price target on shares of First Horizon from $25.00 to $23.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Truist Financial assumed coverage on shares of First Horizon in a research note on Tuesday, May 13th. They issued a "hold" rating and a $21.00 price objective for the company. Seven 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 company's stock. Based on data from MarketBeat.com, First Horizon has a consensus rating of "Moderate Buy" and an average 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.