Polar Capital Holdings Plc Acquires Shares of 375,912 First Horizon Co. (NYSE:FHN)

Polar Capital Holdings Plc purchased a new position in shares of First Horizon Co. (NYSE:FHN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 375,912 shares of the financial services provider's stock, valued at approximately $7,571,000. Polar Capital Holdings Plc owned about 0.07% of First Horizon at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in FHN. Jones Financial Companies Lllp acquired a new stake in shares of First Horizon during the 4th quarter worth approximately $30,000. Kentucky Trust Co acquired a new stake in shares of First Horizon during the 4th quarter worth approximately $32,000. Lee Danner & Bass Inc. acquired a new stake in shares of First Horizon during the 4th quarter worth approximately $50,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of First Horizon by 335.6% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider's stock worth $52,000 after buying an additional 2,000 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of First Horizon by 29.9% during the 4th quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider's stock worth $52,000 after buying an additional 591 shares during the last quarter. Institutional investors and hedge funds own 80.28% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Robert W. Baird raised shares of First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 price objective for the company in a research report on Monday, April 7th. Barclays lowered their price objective on shares of First Horizon from $25.00 to $23.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Royal Bank of Canada lowered their price objective on shares of First Horizon from $24.00 to $22.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Bank of America increased their price objective on shares of First Horizon from $23.00 to $24.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Finally, StockNews.com raised shares of First Horizon from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, First Horizon presently has a consensus rating of "Moderate Buy" and an average price target of $22.41.

First Horizon Trading Down 0.4%

Shares of FHN stock traded down $0.07 during mid-day trading on Wednesday, reaching $19.99. The company's stock had a trading volume of 1,727,523 shares, compared to its average volume of 6,117,706. The company's 50 day simple moving average is $18.47 and its 200-day simple moving average is $19.85. First Horizon Co. has a 12-month low of $14.09 and a 12-month high of $22.44. 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 $10.14 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 1.19 and a beta of 0.59.

First Horizon (NYSE:FHN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.02. The company had revenue of $823.69 million during the quarter, compared to analyst estimates of $825.11 million. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. During the same period last year, the business earned $0.35 EPS. On average, research analysts predict that First Horizon Co. will post 1.67 EPS for the current fiscal year.

First Horizon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders 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 dividend yield of 3.00%. The ex-dividend date is Friday, June 13th. First Horizon's dividend payout ratio is currently 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.