Nilsine Partners LLC Has $169,000 Stake in First Horizon Co. (NYSE:FHN)

Nilsine Partners LLC trimmed its holdings in First Horizon Co. (NYSE:FHN) by 10.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,946 shares of the financial services provider’s stock after selling 1,261 shares during the period. Nilsine Partners LLC’s holdings in First Horizon were worth $169,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FHN. Vanguard Group Inc. raised its position in First Horizon by 4.2% during the third quarter. Vanguard Group Inc. now owns 56,775,050 shares of the financial services provider’s stock valued at $625,661,000 after purchasing an additional 2,276,977 shares in the last quarter. California Public Employees Retirement System grew its stake in shares of First Horizon by 16.0% during the third quarter. California Public Employees Retirement System now owns 994,511 shares of the financial services provider’s stock worth $10,960,000 after buying an additional 137,525 shares during the last quarter. Lecap Asset Management Ltd. bought a new stake in shares of First Horizon during the fourth quarter worth $1,019,000. Louisiana State Employees Retirement System bought a new stake in shares of First Horizon during the fourth quarter worth $2,222,000. Finally, Qsemble Capital Management LP bought a new stake in shares of First Horizon during the third quarter worth $1,189,000. 80.28% of the stock is currently owned by institutional investors and hedge funds.

First Horizon Stock Up 0.5 %

Shares of NYSE FHN traded up $0.08 during trading on Tuesday, hitting $14.92. 8,372,496 shares of the company traded hands, compared to its average volume of 7,042,042. The business’s fifty day moving average is $14.66 and its 200 day moving average is $13.60. First Horizon Co. has a fifty-two week low of $8.99 and a fifty-two week high of $17.82. The firm has a market capitalization of $8.28 billion, a price-to-earnings ratio of 10.43, a P/E/G ratio of 4.07 and a beta of 0.94. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.95 and a current ratio of 0.96.

First Horizon (NYSE:FHN) last announced its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.35 earnings per share 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 firm had revenue of $819.00 million for the quarter, compared to analyst estimates of $809.51 million. During the same quarter in the prior year, the business earned $0.46 earnings per share. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. Equities research analysts predict that First Horizon Co. will post 1.5 earnings per share for the current fiscal year.

First Horizon announced that its board has authorized a share buyback program 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 buy up to 7.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

First Horizon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.60 annualized dividend and a dividend yield of 4.02%. First Horizon’s dividend payout ratio is currently 41.96%.

Analyst Ratings Changes

FHN has been the topic of several analyst reports. StockNews.com raised shares of First Horizon from a “sell” rating to a “hold” rating in a research note on Friday, April 19th. Raymond James raised shares of First Horizon from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $13.00 to $17.00 in a research note on Friday, January 5th. JPMorgan Chase & Co. boosted their price objective on shares of First Horizon from $16.00 to $17.50 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. Keefe, Bruyette & Woods raised shares of First Horizon from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $16.00 to $18.00 in a research note on Friday, April 5th. Finally, Robert W. Baird boosted their target price on shares of First Horizon from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, April 18th. 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.