Knights of Columbus Asset Advisors LLC Increases Stock Position in First Horizon Co. (NYSE:FHN)

Knights of Columbus Asset Advisors LLC lifted its stake in shares of First Horizon Co. (NYSE:FHN - Free Report) by 45.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 354,045 shares of the financial services provider's stock after acquiring an additional 111,070 shares during the quarter. Knights of Columbus Asset Advisors LLC owned about 0.06% of First Horizon worth $5,013,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Macroview Investment Management LLC acquired a new position in First Horizon in the third quarter worth approximately $25,000. Lazard Asset Management LLC acquired a new position in First Horizon in the second quarter worth approximately $31,000. FWL Investment Management LLC acquired a new position in First Horizon in the fourth quarter worth approximately $39,000. Cubist Systematic Strategies LLC acquired a new position in First Horizon in the third quarter worth approximately $39,000. Finally, Byrne Asset Management LLC acquired a new position in First Horizon in the fourth quarter worth approximately $40,000. Institutional investors and hedge funds own 80.28% of the company's stock.

Wall Street Analyst Weigh In

FHN has been the topic of several research analyst reports. Robert W. Baird lifted their price objective on shares of First Horizon from $15.00 to $16.00 and gave the stock a "neutral" rating in a research report on Thursday. UBS Group upgraded shares of First Horizon from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $15.50 to $16.00 in a research report on Wednesday, January 24th. StockNews.com upgraded shares of First Horizon from a "sell" rating to a "hold" rating in a research report on Friday. Evercore ISI lifted their price objective on shares of First Horizon from $17.00 to $17.50 and gave the stock an "outperform" rating in a research report on Thursday, March 28th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of First Horizon from $16.00 to $17.50 and gave the stock a "neutral" rating in a research report on Thursday, April 4th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $16.15.

First Horizon Stock Up 2.5 %

Shares of FHN stock traded up $0.35 on Friday, hitting $14.63. The company's stock had a trading volume of 5,108,422 shares, compared to its average volume of 5,217,001. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio 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 firm's fifty day moving average price is $14.55 and its 200-day moving average price is $13.39. The stock has a market capitalization of $8.12 billion, a price-to-earnings ratio of 10.23, a P/E/G ratio of 3.93 and a beta of 0.94.

First Horizon (NYSE:FHN - Get Free Report) last released its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. First Horizon had a net margin of 16.07% and a return on equity of 8.96%. The business had revenue of $819.00 million during the quarter, compared to analyst estimates of $809.51 million. During the same quarter in the previous year, the business earned $0.46 EPS. First Horizon's quarterly revenue was down 4.7% compared to the same quarter last year. Research analysts anticipate that First Horizon Co. will post 1.5 EPS for the current year.

First Horizon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a $0.15 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.60 annualized dividend and a yield of 4.10%. First Horizon's dividend payout ratio (DPR) is presently 41.96%.

First Horizon declared that its Board of Directors has approved a stock repurchase program on Tuesday, January 23rd that permits the company to repurchase $650.00 million in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 7.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

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.