First Trust Advisors LP Boosts Holdings in First Horizon Co. (NYSE:FHN)

First Trust Advisors LP boosted its stake in First Horizon Co. (NYSE:FHN - Free Report) by 44.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,217,382 shares of the financial services provider's stock after buying an additional 677,539 shares during the period. First Trust Advisors LP owned 0.42% of First Horizon worth $44,658,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in FHN. Barclays PLC raised its position in shares of First Horizon by 169.1% in the 3rd quarter. Barclays PLC now owns 1,886,828 shares of the financial services provider's stock worth $29,301,000 after purchasing an additional 1,185,772 shares during the last quarter. Virtu Financial LLC grew its holdings in shares of First Horizon by 227.0% during the third quarter. Virtu Financial LLC now owns 33,423 shares of the financial services provider's stock valued at $519,000 after buying an additional 23,203 shares during the last quarter. Sanctuary Advisors LLC increased its position in shares of First Horizon by 16.8% during the third quarter. Sanctuary Advisors LLC now owns 24,637 shares of the financial services provider's stock valued at $383,000 after acquiring an additional 3,540 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in First Horizon in the 3rd quarter worth approximately $127,000. Finally, Tidal Investments LLC lifted its position in First Horizon by 5.9% in the 3rd quarter. Tidal Investments LLC now owns 66,623 shares of the financial services provider's stock valued at $1,035,000 after acquiring an additional 3,722 shares in the last quarter. 80.28% of the stock is currently owned by institutional investors.

First Horizon Price Performance

FHN traded down $0.01 during trading on Tuesday, reaching $18.00. 584,461 shares of the company traded hands, compared to its average volume of 6,309,473. The firm has a fifty day simple moving average of $18.66 and a 200 day simple moving average of $19.63. 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 $9.25 billion, a P/E ratio of 13.25, a PEG ratio of 1.19 and a beta of 0.60. 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 announced its quarterly earnings results 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 net margin of 15.38% and a return on equity of 10.10%. The company had revenue of $823.69 million for the quarter, compared to analysts' expectations of $825.11 million. During the same quarter in the previous year, the business posted $0.35 earnings per share. On average, equities analysts forecast that First Horizon Co. will post 1.67 EPS for the current year.

Wall Street Analysts Forecast Growth

FHN has been the subject of several recent analyst reports. Baird R W upgraded First Horizon from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. StockNews.com raised shares of First Horizon from a "sell" rating to a "hold" rating in a report on Tuesday, April 8th. 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. Stephens reissued an "overweight" rating and issued a $24.00 target price on shares of First Horizon in a research report on Friday, January 17th. Finally, Wells Fargo & Company reduced their price target 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. Six analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.03.

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.