Waters Parkerson & CO. LLC Acquires 112,941 Shares of First Horizon Co. (NYSE:FHN)

Waters Parkerson & CO. LLC boosted its holdings in First Horizon Co. (NYSE:FHN) by 203.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 168,477 shares of the financial services provider’s stock after acquiring an additional 112,941 shares during the period. Waters Parkerson & CO. LLC’s holdings in First Horizon were worth $3,393,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in FHN. Barclays PLC grew its holdings in First Horizon by 169.1% in the 3rd quarter. Barclays PLC now owns 1,886,828 shares of the financial services provider’s stock valued at $29,301,000 after buying an additional 1,185,772 shares in the last quarter. Gateway Investment Advisers LLC grew its holdings in First Horizon by 8.8% in the 4th quarter. Gateway Investment Advisers LLC now owns 68,593 shares of the financial services provider’s stock valued at $1,381,000 after buying an additional 5,553 shares in the last quarter. Ritholtz Wealth Management acquired a new position in First Horizon in the 4th quarter valued at $352,000. Merit Financial Group LLC acquired a new position in First Horizon in the 4th quarter valued at $453,000. Finally, Krilogy Financial LLC acquired a new position in First Horizon in the 4th quarter valued at $261,000. Institutional investors own 80.28% of the company’s stock.

First Horizon Price Performance

First Horizon stock opened at $20.36 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $10.32 billion, a PE ratio of 14.97, a P/E/G ratio of 1.19 and a beta of 0.59. First Horizon Co. has a 12 month low of $14.09 and a 12 month high of $22.44. The stock has a 50-day moving average price of $18.40 and a two-hundred day moving average price of $19.83.

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

First Horizon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $0.15 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.60 annualized dividend and a yield of 2.95%. First Horizon’s dividend payout ratio is presently 41.67%.

Wall Street Analysts Forecast Growth

FHN has been the topic of a number of research reports. StockNews.com raised First Horizon from a “sell” rating to a “hold” rating in a report on Monday, May 12th. Raymond James cut their target price on First Horizon from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Wednesday, April 2nd. Bank of America upped their target price on First Horizon from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Keefe, Bruyette & Woods cut their target price on First Horizon from $24.00 to $22.00 and set a “market perform” rating for the company in a research report on Thursday, April 17th. Finally, Baird R W upgraded First Horizon from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 7th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, First Horizon currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.97.

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.