Millennium Management LLC Has $428.69 Million Stock Holdings in First Horizon Co. (NYSE:FHN)

Millennium Management LLC lifted its stake in First Horizon Co. (NYSE:FHN - Free Report) by 102.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,285,306 shares of the financial services provider's stock after buying an additional 10,763,349 shares during the period. First Horizon comprises 0.2% of Millennium Management LLC's portfolio, making the stock its 20th biggest holding. Millennium Management LLC owned approximately 4.02% of First Horizon worth $428,686,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in FHN. Jones Financial Companies Lllp acquired a new stake in First Horizon during the fourth quarter valued at approximately $30,000. Kentucky Trust Co acquired a new stake in First Horizon during the fourth quarter valued at approximately $32,000. Lee Danner & Bass Inc. acquired a new stake in First Horizon during the fourth quarter valued at approximately $50,000. MassMutual Private Wealth & Trust FSB boosted its holdings 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 valued at $52,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in First Horizon by 29.9% during the fourth quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 591 shares in the last quarter. Institutional investors own 80.28% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Raymond James reduced their target price on First Horizon from $23.00 to $22.00 and set an "outperform" rating on the stock in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods reduced their target price on First Horizon from $24.00 to $22.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. Citigroup boosted their target price on First Horizon from $24.00 to $25.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Stephens reissued an "overweight" rating and issued a $24.00 target price on shares of First Horizon in a report on Friday, January 17th. Finally, Baird R W raised First Horizon from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Seven investment 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, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $21.97.

First Horizon Trading Up 0.5%

Shares of First Horizon stock traded up $0.10 during trading on Friday, reaching $20.36. 3,018,760 shares of the company were exchanged, compared to its average volume of 6,137,955. First Horizon Co. has a twelve month low of $14.09 and a twelve month high of $22.44. The business has a 50-day moving average price of $18.36 and a 200-day moving average price of $19.77. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $10.32 billion, a price-to-earnings ratio of 14.97, a P/E/G ratio of 1.19 and a beta of 0.59.

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 (EPS) 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 company had revenue of $823.69 million during the quarter, compared to analyst estimates of $825.11 million. During the same quarter in the previous year, the business earned $0.35 EPS. Sell-side analysts anticipate that First Horizon Co. will post 1.67 EPS for the current fiscal year.

First Horizon Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend is Friday, June 13th. First Horizon's payout ratio is presently 41.67%.

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.