Interval Partners LP Grows Position in First Horizon Co. (NYSE:FHN)

Interval Partners LP grew its stake in First Horizon Co. (NYSE:FHN - Free Report) by 63.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 421,740 shares of the financial services provider's stock after acquiring an additional 164,300 shares during the quarter. Interval Partners LP owned about 0.08% of First Horizon worth $8,494,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in FHN. Jones Financial Companies Lllp purchased a new position in First Horizon in the 4th quarter valued at about $30,000. Kentucky Trust Co acquired a new position in shares of First Horizon in the fourth quarter valued at approximately $32,000. Lee Danner & Bass Inc. purchased a new position in shares of First Horizon during the fourth quarter valued at approximately $50,000. MassMutual Private Wealth & Trust FSB boosted its position in First Horizon by 335.6% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider's stock worth $52,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its stake in 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 acquiring an additional 591 shares during the period. Institutional investors and hedge funds own 80.28% of the company's stock.

First Horizon Stock Performance

First Horizon stock opened at $19.25 on Friday. The firm has a market capitalization of $9.76 billion, a PE ratio of 14.15, a price-to-earnings-growth 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 stock's 50 day moving average price is $18.26 and its 200 day moving average price is $19.71. 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 earnings results 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 net margin of 15.38% and a return on equity of 10.10%. 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 firm earned $0.35 earnings per share. As a group, sell-side analysts expect that First Horizon Co. will post 1.67 EPS for the current fiscal year.

First Horizon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is Friday, June 13th. First Horizon's dividend payout ratio (DPR) is 41.67%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on FHN shares. Bank of America raised their price objective on First Horizon from $23.00 to $24.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Baird R W upgraded First Horizon from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Raymond James cut their price objective on shares of First Horizon from $23.00 to $22.00 and set an "outperform" rating on the stock in a report on Wednesday, April 2nd. Stephens restated an "overweight" rating and issued a $24.00 target price on shares of First Horizon in a report on Friday, January 17th. Finally, Citigroup increased their price target on shares of First Horizon from $24.00 to $25.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target 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.

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