First Horizon Co. (NYSE:FHN) Shares Purchased by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC raised its stake in First Horizon Co. (NYSE:FHN) by 45.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 354,045 shares of the financial services provider’s stock after purchasing an additional 111,070 shares during the period. Knights of Columbus Asset Advisors LLC owned about 0.06% of First Horizon worth $5,013,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. FWL Investment Management LLC acquired a new stake in shares of First Horizon during the 4th quarter worth about $39,000. Cubist Systematic Strategies LLC acquired a new stake in First Horizon during the third quarter worth approximately $39,000. Compass Wealth Management LLC purchased a new stake in shares of First Horizon during the 4th quarter worth approximately $49,000. Macroview Investment Management LLC purchased a new position in shares of First Horizon in the 3rd quarter valued at $25,000. Finally, CENTRAL TRUST Co raised its stake in First Horizon by 141.7% during the 3rd quarter. CENTRAL TRUST Co now owns 2,610 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 1,530 shares in the last quarter. Institutional investors and hedge funds own 80.28% of the company’s stock.

First Horizon Trading Up 2.4 %

NYSE FHN opened at $14.62 on Friday. First Horizon Co. has a 52-week low of $8.99 and a 52-week high of $18.99. The firm has a 50-day moving average price of $14.55 and a 200 day moving average price of $13.37. The stock has a market capitalization of $8.11 billion, a P/E ratio of 10.22, a P/E/G ratio of 3.93 and a beta of 0.94. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 0.13.

First Horizon (NYSE:FHN) last issued its earnings results on Wednesday, April 17th. The financial services provider reported $0.35 EPS for the quarter, topping 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 company had revenue of $819.00 million for the quarter, compared to analyst estimates of $809.51 million. During the same period in the previous year, the firm earned $0.46 EPS. The business’s revenue was down 4.7% on a year-over-year basis. Equities research analysts expect 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. Shareholders of record on Friday, March 15th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend was Thursday, March 14th. First Horizon’s dividend payout ratio (DPR) is 41.96%.

First Horizon announced that its board has approved a stock repurchase plan on Tuesday, January 23rd that allows the company to repurchase $650.00 million in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 7.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on FHN shares. UBS Group raised First Horizon from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $15.50 to $16.00 in a report on Wednesday, January 24th. Wedbush reiterated an “outperform” rating and issued a $17.00 price objective on shares of First Horizon in a research note on Wednesday, April 10th. Raymond James raised First Horizon from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $13.00 to $17.00 in a report on Friday, January 5th. Royal Bank of Canada raised shares of First Horizon from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $16.00 to $18.00 in a report on Tuesday, April 9th. Finally, StockNews.com upgraded shares of First Horizon from a “sell” rating to a “hold” rating in a research note on Friday. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.15.

First Horizon 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.