71,974 Shares in First Horizon Co. (NYSE:FHN) Purchased by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. purchased a new position in shares of First Horizon Co. (NYSE:FHN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 71,974 shares of the financial services provider's stock, valued at approximately $1,019,000.

Other institutional investors have also recently bought and sold shares of the company. Louisiana State Employees Retirement System acquired a new position in shares of First Horizon in the fourth quarter valued at approximately $2,222,000. Aquila Investment Management LLC acquired a new position in shares of First Horizon in the fourth quarter valued at approximately $991,000. Byrne Asset Management LLC acquired a new position in shares of First Horizon in the fourth quarter valued at approximately $40,000. Sequoia Financial Advisors LLC acquired a new position in shares of First Horizon in the fourth quarter valued at approximately $233,000. Finally, International Assets Investment Management LLC acquired a new position in shares of First Horizon in the fourth quarter valued at approximately $82,000. Institutional investors and hedge funds own 80.28% of the company's stock.

First Horizon Trading Down 1.8 %

NYSE FHN traded down $0.26 on Friday, reaching $14.20. The company had a trading volume of 4,647,998 shares, compared to its average volume of 5,448,413. The firm has a market cap of $7.88 billion, a price-to-earnings ratio of 9.28, a P/E/G ratio of 4.05 and a beta of 0.94. First Horizon Co. has a fifty-two week low of $8.99 and a fifty-two week high of $18.99. The business has a 50 day moving average of $14.51 and a two-hundred day moving average of $13.29. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.95 and a quick ratio of 0.94.

First Horizon (NYSE:FHN - Get Free Report) last posted its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.32 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.01. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $784.20 million. First Horizon had a return on equity of 9.94% and a net margin of 17.80%. During the same period in the prior year, the business posted $0.51 earnings per share. Analysts forecast that First Horizon Co. will post 1.45 EPS for the current year.

First Horizon announced that its Board of Directors has authorized a share buyback program on Tuesday, January 23rd that allows the company to buyback $650.00 million in shares. This buyback authorization allows the financial services provider to purchase up to 7.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its stock is undervalued.

First Horizon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.60 dividend on an annualized basis and a yield of 4.23%. First Horizon's payout ratio is currently 39.22%.

Analysts Set New Price Targets

FHN has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on First Horizon from $16.00 to $17.50 and gave the company a "neutral" rating in a research note on Thursday, April 4th. Wedbush reiterated an "outperform" rating and issued a $17.00 price target on shares of First Horizon in a research note on Wednesday. Wells Fargo & Company upped their target price on First Horizon from $14.00 to $16.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Barclays started coverage on First Horizon in a research note on Friday, March 8th. They set an "overweight" rating and a $18.00 target price for the company. Finally, Royal Bank of Canada upgraded First Horizon from a "sector perform" rating to an "outperform" rating and upped their target price for the stock from $16.00 to $18.00 in a research note on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $16.00.

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.