Ategra Capital Management LLC Has $12.66 Million Stock Holdings in First Horizon Co. (NYSE:FHN)

Ategra Capital Management LLC increased its position in shares of First Horizon Co. (NYSE:FHN) by 1.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 628,637 shares of the financial services provider’s stock after purchasing an additional 10,000 shares during the period. First Horizon makes up 8.4% of Ategra Capital Management LLC’s portfolio, making the stock its 5th largest holding. Ategra Capital Management LLC owned about 0.12% of First Horizon worth $12,661,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in FHN. Versant Capital Management Inc boosted its stake in shares of First Horizon by 160.1% during the fourth quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 884 shares during the period. Jones Financial Companies Lllp purchased a new stake in First Horizon in the 4th quarter valued at about $30,000. Kentucky Trust Co bought a new position in First Horizon in the 4th quarter worth about $32,000. Lee Danner & Bass Inc. purchased a new position in shares of First Horizon during the fourth quarter worth approximately $50,000. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of First Horizon by 335.6% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 2,000 shares in the last quarter. 80.28% of the stock is currently owned by institutional investors.

First Horizon Price Performance

Shares of FHN stock opened at $18.89 on Friday. First Horizon Co. has a fifty-two week low of $14.09 and a fifty-two week high of $22.44. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96. The firm has a market capitalization of $9.71 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 1.19 and a beta of 0.60. The stock’s 50-day simple moving average is $18.45 and its 200-day simple moving average is $19.64.

First Horizon (NYSE:FHN) last released its earnings results on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.02. The company had revenue of $823.69 million for the quarter, compared to the consensus estimate of $825.11 million. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. During the same quarter in the previous year, the firm earned $0.35 EPS. As a group, equities analysts forecast that First Horizon Co. will post 1.67 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.60 dividend on an annualized basis and a yield of 3.18%. First Horizon’s dividend payout ratio (DPR) is 41.67%.

Wall Street Analyst Weigh In

FHN has been the topic of a number of recent research reports. Citigroup increased their price target on First Horizon from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Baird R W raised shares of First Horizon from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 7th. StockNews.com lowered shares of First Horizon from a “hold” rating to a “sell” rating in a report on Tuesday. Keefe, Bruyette & Woods dropped their price objective on shares of First Horizon from $24.00 to $22.00 and set a “market perform” rating on the stock in a research note on Thursday, April 17th. Finally, Barclays lowered their target price on First Horizon from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, First Horizon presently has a consensus rating of “Moderate Buy” and an average target price of $22.03.

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.