Townsquare Capital LLC Buys 20,065 Shares of First Horizon Co. (NYSE:FHN)

Townsquare Capital LLC increased its position in shares of First Horizon Co. (NYSE:FHN - Free Report) by 135.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,928 shares of the financial services provider's stock after purchasing an additional 20,065 shares during the period. Townsquare Capital LLC's holdings in First Horizon were worth $703,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stifel Financial Corp increased its stake in First Horizon by 14.8% during the 3rd quarter. Stifel Financial Corp now owns 85,461 shares of the financial services provider's stock worth $1,327,000 after acquiring an additional 10,988 shares during the period. Barclays PLC raised its holdings in shares of First Horizon by 169.1% during the 3rd quarter. Barclays PLC now owns 1,886,828 shares of the financial services provider's stock worth $29,301,000 after buying an additional 1,185,772 shares in the last quarter. Virtu Financial LLC lifted its position in shares of First Horizon by 227.0% during the 3rd quarter. Virtu Financial LLC now owns 33,423 shares of the financial services provider's stock worth $519,000 after buying an additional 23,203 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in First Horizon by 16.8% in the third quarter. Sanctuary Advisors LLC now owns 24,637 shares of the financial services provider's stock valued at $383,000 after buying an additional 3,540 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in First Horizon in the third quarter valued at about $127,000. 80.28% of the stock is owned by institutional investors and hedge funds.

First Horizon Price Performance

Shares of FHN stock traded up $0.34 during trading hours on Thursday, reaching $17.73. The stock had a trading volume of 1,295,298 shares, compared to its average volume of 6,319,650. The stock's fifty day simple moving average is $18.92 and its 200 day simple moving average is $19.54. The firm has a market capitalization of $9.11 billion, a PE ratio of 13.02, a PEG ratio of 1.19 and a beta of 0.60. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. First Horizon Co. has a 12 month low of $14.09 and a 12 month high of $22.44.

First Horizon (NYSE:FHN - Get Free Report) last announced its earnings results on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share 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 for the quarter, compared to analyst estimates of $825.11 million. During the same period in the prior year, the company earned $0.35 EPS. On average, equities research analysts predict that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a dividend of $0.15 per share. The ex-dividend date was Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.38%. First Horizon's dividend payout ratio is 41.67%.

Analyst Upgrades and Downgrades

FHN has been the topic of a number of research analyst reports. Baird R W upgraded shares of First Horizon from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. StockNews.com raised First Horizon from a "sell" rating to a "hold" rating in a report on Tuesday, April 8th. Stephens restated an "overweight" rating and issued a $24.00 price target on shares of First Horizon in a report on Friday, January 17th. Royal Bank of Canada dropped their price target on First Horizon from $24.00 to $22.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Finally, Bank of America lifted their price target on shares of First Horizon from $23.00 to $24.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.03.

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.