Allen Capital Group LLC Takes Position in First Horizon Co. (NYSE:FHN)

Allen Capital Group LLC purchased a new stake in First Horizon Co. (NYSE:FHN) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 11,868 shares of the financial services provider’s stock, valued at approximately $168,000.

Several other hedge funds and other institutional investors also recently modified their holdings of FHN. Private Advisor Group LLC increased its stake in shares of First Horizon by 15.6% in the 1st quarter. Private Advisor Group LLC now owns 29,962 shares of the financial services provider’s stock valued at $704,000 after purchasing an additional 4,036 shares during the last quarter. Panagora Asset Management Inc. increased its stake in shares of First Horizon by 22.9% in the 1st quarter. Panagora Asset Management Inc. now owns 17,303 shares of the financial services provider’s stock valued at $406,000 after purchasing an additional 3,224 shares during the last quarter. Great West Life Assurance Co. Can grew its position in First Horizon by 10.8% during the 1st quarter. Great West Life Assurance Co. Can now owns 310,733 shares of the financial services provider’s stock worth $7,507,000 after acquiring an additional 30,189 shares during the last quarter. Blair William & Co. IL grew its position in First Horizon by 2.1% during the 1st quarter. Blair William & Co. IL now owns 28,364 shares of the financial services provider’s stock worth $666,000 after acquiring an additional 575 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its position in First Horizon by 3,619.3% during the 1st quarter. Allianz Asset Management GmbH now owns 1,003,120 shares of the financial services provider’s stock worth $23,563,000 after acquiring an additional 976,149 shares during the last quarter. Institutional investors own 80.28% of the company’s stock.

First Horizon Stock Down 0.9 %

Shares of NYSE:FHN opened at $13.91 on Wednesday. The company has a market capitalization of $7.72 billion, a price-to-earnings ratio of 9.09, a P/E/G ratio of 3.98 and a beta of 0.94. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.95 and a quick ratio of 0.94. The business’s 50-day moving average is $14.51 and its 200-day moving average is $13.33. First Horizon Co. has a 1 year low of $8.99 and a 1 year high of $18.99.

First Horizon (NYSE:FHN) last announced its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The company had revenue of $1.27 billion for 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 previous year, the business earned $0.51 EPS. Equities research analysts predict that First Horizon Co. will post 1.45 earnings per share for the current year.

First Horizon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date was Thursday, March 14th. First Horizon’s dividend payout ratio (DPR) is currently 39.22%.

First Horizon declared that its board has authorized a share repurchase program on Tuesday, January 23rd that permits the company to buyback $650.00 million in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 7.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FHN. UBS Group upgraded First Horizon from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $15.50 to $16.00 in a research report on Wednesday, January 24th. JPMorgan Chase & Co. boosted their price objective on First Horizon from $16.00 to $17.50 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. Wells Fargo & Company boosted their price objective on First Horizon from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. StockNews.com lowered First Horizon from a “hold” rating to a “sell” rating in a research report on Wednesday, February 7th. Finally, Wedbush reaffirmed an “outperform” rating and set a $17.00 target price on shares of First Horizon in a report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, First Horizon has a consensus rating of “Moderate Buy” and an average target price of $16.00.

About First Horizon

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.