Gofen & Glossberg LLC IL Has $3.49 Million Stock Position in First Horizon Co. (NYSE:FHN)

Gofen & Glossberg LLC IL raised its holdings in First Horizon Co. (NYSE:FHNGet Rating) by 20.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 159,781 shares of the financial services provider’s stock after acquiring an additional 26,790 shares during the quarter. Gofen & Glossberg LLC IL’s holdings in First Horizon were worth $3,493,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. CENTRAL TRUST Co lifted its stake in First Horizon by 116.0% in the first quarter. CENTRAL TRUST Co now owns 1,080 shares of the financial services provider’s stock valued at $25,000 after buying an additional 580 shares during the period. Riverview Trust Co bought a new stake in First Horizon in the first quarter valued at approximately $28,000. CWM LLC raised its holdings in First Horizon by 60.8% in the first quarter. CWM LLC now owns 1,233 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 466 shares during the period. Koshinski Asset Management Inc. bought a new position in shares of First Horizon during the first quarter worth $40,000. Finally, AGF Investments LLC acquired a new position in shares of First Horizon in the 1st quarter valued at $52,000. Institutional investors and hedge funds own 81.49% of the company’s stock.

Analysts Set New Price Targets

FHN has been the subject of a number of research analyst reports. StockNews.com raised First Horizon from a “sell” rating to a “hold” rating in a research note on Wednesday. Truist Financial raised their target price on shares of First Horizon to $25.00 in a report on Friday, June 3rd. Nine investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, First Horizon has a consensus rating of “Hold” and an average price target of $22.83.

First Horizon Price Performance

Shares of NYSE FHN opened at $23.54 on Friday. The stock has a market capitalization of $12.59 billion, a PE ratio of 16.35, a P/E/G ratio of 2.94 and a beta of 1.04. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.95 and a quick ratio of 0.94. First Horizon Co. has a fifty-two week low of $15.00 and a fifty-two week high of $24.24. The business has a fifty day moving average price of $22.83 and a two-hundred day moving average price of $22.65.

First Horizon (NYSE:FHNGet Rating) last issued its earnings results on Tuesday, July 19th. The financial services provider reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). First Horizon had a net margin of 26.78% and a return on equity of 12.27%. During the same quarter last year, the business posted $0.58 earnings per share. As a group, equities analysts predict that First Horizon Co. will post 1.56 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 9th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $0.60 annualized dividend and a yield of 2.55%. First Horizon’s payout ratio is 41.67%.

First Horizon Company Profile

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First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial services. The company operates through three segments: Regional Banking, Specialty Banking, and Corporate. It offers general banking services for consumers, businesses, financial institutions, and governments.

Further Reading

Institutional Ownership by Quarter for First Horizon (NYSE:FHN)

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