Worldquant Millennium Advisors LLC Has $2.73 Million Stock Holdings in First Horizon Co. (NYSE:FHN)

Worldquant Millennium Advisors LLC raised its stake in shares of First Horizon Co. (NYSE:FHN - Free Report) by 16.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 135,421 shares of the financial services provider's stock after acquiring an additional 19,599 shares during the period. Worldquant Millennium Advisors LLC's holdings in First Horizon were worth $2,727,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Jones Financial Companies Lllp acquired a new position in shares of First Horizon in the fourth quarter valued at approximately $30,000. Kentucky Trust Co purchased a new position in First Horizon in the fourth quarter worth approximately $32,000. Lee Danner & Bass Inc. purchased a new stake in shares of First Horizon during the 4th quarter worth approximately $50,000. Farther Finance Advisors LLC lifted its position in shares of First Horizon by 29.9% during the 4th quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider's stock worth $52,000 after buying an additional 591 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its position in shares of First Horizon by 335.6% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider's stock worth $52,000 after buying an additional 2,000 shares during the last quarter. 80.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on FHN shares. Barclays dropped their price objective 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. Royal Bank of Canada reduced their target price on shares of First Horizon from $24.00 to $22.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Wells Fargo & Company dropped their target price on shares of 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. Citigroup increased their target price on shares of First Horizon from $24.00 to $25.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Finally, 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 report on Monday, April 7th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.41.

First Horizon Stock Performance

FHN traded down $0.17 during trading on Wednesday, hitting $20.02. The stock had a trading volume of 1,386,478 shares, compared to its average volume of 6,167,259. The company has a 50 day moving average price of $18.54 and a 200-day moving average price of $19.89. The firm has a market cap of $10.15 billion, a price-to-earnings ratio of 14.73, a P/E/G ratio of 1.19 and a beta of 0.59. First Horizon Co. has a one year low of $14.09 and a one year high of $22.44. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95.

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 for the quarter, topping 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 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 company earned $0.35 EPS. As a group, research analysts predict that First Horizon Co. will post 1.67 EPS for the current 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 dividend on an annualized basis and a yield of 3.00%. First Horizon's payout ratio is presently 41.67%.

First Horizon 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.