First Horizon Co. (NYSE:FHN) Short Interest Update

First Horizon Co. (NYSE:FHN) was the target of a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 5,950,000 shares, a growth of 20.9% from the September 15th total of 4,920,000 shares. Based on an average daily trading volume, of 5,900,000 shares, the days-to-cover ratio is presently 1.0 days. Approximately 1.1% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FHN. Robert W. Baird reissued a “neutral” rating and set a $16.00 target price on shares of First Horizon in a research report on Tuesday, August 6th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $18.00 target price on shares of First Horizon in a research note on Wednesday, July 17th. Royal Bank of Canada raised their target price on First Horizon from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Jefferies Financial Group upped their price target on First Horizon from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Finally, Raymond James downgraded shares of First Horizon from a “strong-buy” rating to an “outperform” rating and set a $18.00 price objective on the stock. in a research note on Thursday, July 18th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, First Horizon presently has a consensus rating of “Moderate Buy” and an average price target of $17.38.

Institutional Investors Weigh In On First Horizon

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in First Horizon by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 57,574,002 shares of the financial services provider’s stock valued at $886,640,000 after buying an additional 627,730 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of First Horizon by 13.6% during the second quarter. Bank of New York Mellon Corp now owns 32,389,497 shares of the financial services provider’s stock valued at $510,782,000 after acquiring an additional 3,870,946 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of First Horizon by 28.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 15,515,494 shares of the financial services provider’s stock valued at $244,647,000 after purchasing an additional 3,470,346 shares in the last quarter. Millennium Management LLC grew its holdings in shares of First Horizon by 46.5% in the 2nd quarter. Millennium Management LLC now owns 14,370,699 shares of the financial services provider’s stock worth $226,626,000 after purchasing an additional 4,558,129 shares during the last quarter. Finally, LSV Asset Management increased its position in shares of First Horizon by 5.2% during the 2nd quarter. LSV Asset Management now owns 14,025,838 shares of the financial services provider’s stock worth $221,187,000 after purchasing an additional 692,100 shares in the last quarter. 80.28% of the stock is currently owned by institutional investors.

First Horizon Stock Up 1.6 %

FHN opened at $16.71 on Wednesday. The company has a market capitalization of $9.14 billion, a P/E ratio of 11.69, a P/E/G ratio of 1.27 and a beta of 0.88. 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’s fifty day moving average price is $15.73 and its two-hundred day moving average price is $15.53. First Horizon has a fifty-two week low of $10.16 and a fifty-two week high of $17.46.

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

First Horizon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date was Friday, September 13th. First Horizon’s dividend payout ratio is 41.96%.

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.