First Horizon Co. (NYSE:FHN) Shares Acquired by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV grew its holdings in First Horizon Co. (NYSE:FHN - Free Report) by 1,247.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 312,737 shares of the financial services provider's stock after acquiring an additional 289,536 shares during the period. Mercer Global Advisors Inc. ADV owned about 0.06% of First Horizon worth $6,299,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of FHN. Freestone Grove Partners LP acquired a new position in First Horizon during the 4th quarter worth $75,485,000. Northern Trust Corp increased its stake in shares of First Horizon by 29.5% during the fourth quarter. Northern Trust Corp now owns 4,970,951 shares of the financial services provider's stock worth $100,115,000 after buying an additional 1,130,991 shares during the period. Boothbay Fund Management LLC raised its holdings in First Horizon by 13.9% in the fourth quarter. Boothbay Fund Management LLC now owns 288,077 shares of the financial services provider's stock valued at $5,802,000 after acquiring an additional 35,216 shares in the last quarter. Hancock Whitney Corp acquired a new stake in First Horizon in the fourth quarter valued at approximately $540,000. Finally, Pinebridge Investments L.P. lifted its stake in First Horizon by 42.7% in the fourth quarter. Pinebridge Investments L.P. now owns 151,840 shares of the financial services provider's stock worth $3,058,000 after acquiring an additional 45,424 shares during the last quarter. Hedge funds and other institutional investors own 80.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Bank of America raised their price objective on shares of First Horizon from $23.00 to $24.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Wells Fargo & Company cut their price target on First Horizon from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Robert W. Baird raised First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 price objective for the company in a research report on Monday, April 7th. StockNews.com lowered First Horizon from a "hold" rating to a "sell" rating in a research report on Tuesday, April 29th. Finally, JPMorgan Chase & Co. upped their price target on First Horizon from $22.50 to $23.50 and gave the company a "neutral" rating in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $22.03.

First Horizon Stock Performance

Shares of NYSE:FHN traded up $0.68 on Thursday, reaching $19.28. The company's stock had a trading volume of 4,428,017 shares, compared to its average volume of 6,163,382. First Horizon Co. has a 52-week low of $14.09 and a 52-week high of $22.44. The stock has a market capitalization of $9.91 billion, a P/E ratio of 14.17, a PEG ratio of 1.19 and a beta of 0.59. The stock's 50-day moving average is $18.30 and its two-hundred day moving average is $19.67. 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 posted its quarterly earnings data 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. The company had revenue of $823.69 million during the quarter, compared to analysts' expectations of $825.11 million. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. During the same period last year, the firm earned $0.35 EPS. As a group, sell-side analysts forecast that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $0.15 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.60 annualized dividend and a yield of 3.11%. First Horizon's dividend payout ratio is currently 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.