Lighthouse Investment Partners LLC Makes New Investment in First Horizon Co. (NYSE:FHN)

Lighthouse Investment Partners LLC purchased a new position in First Horizon Co. (NYSE:FHN - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 49,627 shares of the financial services provider's stock, valued at approximately $999,000.

A number of other large investors have also bought and sold shares of FHN. Jones Financial Companies Lllp purchased a new position in First Horizon in the 4th quarter worth approximately $30,000. Kentucky Trust Co purchased a new position in First Horizon in the 4th quarter worth approximately $32,000. Lee Danner & Bass Inc. purchased a new position in First Horizon in the 4th quarter worth approximately $50,000. MassMutual Private Wealth & Trust FSB increased its stake in First Horizon by 335.6% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider's stock worth $52,000 after purchasing an additional 2,000 shares during the period. Finally, Farther Finance Advisors LLC increased 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 purchasing an additional 591 shares during the period. 80.28% of the stock is owned by hedge funds and other institutional investors.

First Horizon Stock Down 0.2%

Shares of NYSE FHN traded down $0.05 during mid-day trading on Tuesday, hitting $20.27. 737,008 shares of the stock traded hands, compared to its average volume of 6,115,413. 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 Co. has a 52 week low of $14.09 and a 52 week high of $22.44. The company has a market cap of $10.28 billion, a price-to-earnings ratio of 14.91, a PEG ratio of 1.19 and a beta of 0.59. The stock has a fifty day moving average price of $18.44 and a 200-day moving average price of $19.85.

First Horizon (NYSE:FHN - Get Free Report) last released its earnings results on Wednesday, April 16th. The financial services provider reported $0.42 EPS 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 for the quarter, compared to the consensus estimate of $825.11 million. During the same period in the previous year, the company posted $0.35 earnings per share. Research analysts anticipate that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Announces Dividend

The business 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. This represents a $0.60 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Friday, June 13th. First Horizon's dividend payout ratio (DPR) is 41.67%.

Wall Street Analyst Weigh In

A number of brokerages have commented on FHN. Citigroup lifted their price target on First Horizon from $24.00 to $25.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. StockNews.com upgraded First Horizon from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Keefe, Bruyette & Woods cut their price objective on First Horizon from $24.00 to $22.00 and set a "market perform" rating on the stock in a research report on Thursday, April 17th. Bank of America lifted their price objective on First Horizon from $23.00 to $24.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Finally, Royal Bank of Canada cut their price objective on First Horizon from $24.00 to $22.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, First Horizon presently has a consensus rating of "Moderate Buy" and a consensus target price of $21.97.

First Horizon Company 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.