Diamond Hill Capital Management Inc. Acquires 794 Shares of First Horizon Co. (NYSE:FHN)

Diamond Hill Capital Management Inc. grew its holdings in shares of First Horizon Co. (NYSE:FHN) by 0.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,056,313 shares of the financial services provider’s stock after purchasing an additional 794 shares during the quarter. Diamond Hill Capital Management Inc. owned about 0.19% of First Horizon worth $16,658,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of FHN. Envestnet Asset Management Inc. raised its stake in shares of First Horizon by 5.9% during the second quarter. Envestnet Asset Management Inc. now owns 121,075 shares of the financial services provider’s stock worth $1,909,000 after acquiring an additional 6,696 shares in the last quarter. Thoroughbred Financial Services LLC increased its position in First Horizon by 11.8% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 13,941 shares of the financial services provider’s stock valued at $219,000 after purchasing an additional 1,470 shares during the period. Federated Hermes Inc. boosted its holdings in shares of First Horizon by 3.6% during the 2nd quarter. Federated Hermes Inc. now owns 2,408,894 shares of the financial services provider’s stock valued at $37,988,000 after buying an additional 84,666 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of First Horizon during the 2nd quarter valued at $159,000. Finally, Jupiter Asset Management Ltd. bought a new stake in shares of First Horizon during the 2nd quarter valued at $66,779,000. 80.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FHN has been the topic of a number of analyst reports. Royal Bank of Canada upped their price target on shares of First Horizon from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Jefferies Financial Group increased their target price on shares of First Horizon from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. StockNews.com raised shares of First Horizon from a “sell” rating to a “hold” rating in a report on Saturday, July 20th. Stephens began coverage on First Horizon in a research note on Thursday, May 23rd. They issued an “overweight” rating and a $19.00 price target for the company. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $18.00 target price on shares of First Horizon in a research report on Wednesday, July 17th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $17.31.

First Horizon Stock Performance

NYSE:FHN opened at $15.81 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $8.65 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 3.09 and a beta of 0.88. The company’s 50-day moving average is $15.97 and its two-hundred day moving average is $15.41. First Horizon Co. has a 1-year low of $10.08 and a 1-year high of $17.46.

First Horizon (NYSE:FHN) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $819.82 million. First Horizon had a net margin of 14.03% and a return on equity of 8.84%. During the same period last year, the firm posted $0.39 earnings per share. Analysts forecast that First Horizon Co. will post 1.46 EPS for the current year.

First Horizon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date is Friday, September 13th. First Horizon’s dividend payout ratio (DPR) is 41.96%.

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.