AMG National Trust Bank Buys New Holdings in First Horizon Co. (NYSE:FHN)

AMG National Trust Bank purchased a new position in shares of First Horizon Co. (NYSE:FHN) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 44,468 shares of the financial services provider’s stock, valued at approximately $701,000.

A number of other large investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of First Horizon by 1.1% in the first quarter. Vanguard Group Inc. now owns 57,574,002 shares of the financial services provider’s stock worth $886,640,000 after purchasing an additional 627,730 shares during the last quarter. Bank of New York Mellon Corp boosted its position in First Horizon by 224.4% during the 1st quarter. Bank of New York Mellon Corp now owns 28,518,551 shares of the financial services provider’s stock valued at $439,186,000 after buying an additional 19,728,357 shares during the period. LSV Asset Management grew its holdings in First Horizon by 49.8% in the 1st quarter. LSV Asset Management now owns 13,333,738 shares of the financial services provider’s stock worth $205,340,000 after acquiring an additional 4,434,929 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of First Horizon by 10.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,641,140 shares of the financial services provider’s stock valued at $136,526,000 after acquiring an additional 883,503 shares during the period. Finally, Norges Bank bought a new position in shares of First Horizon during the fourth quarter valued at about $86,487,000. 80.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on FHN shares. Barclays boosted their price target on First Horizon from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Monday, June 24th. StockNews.com raised First Horizon from a “sell” rating to a “hold” rating in a research note on Saturday, July 20th. Jefferies Financial Group raised their price target on First Horizon from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Stephens began coverage on shares of First Horizon in a research report on Thursday, May 23rd. They set an “overweight” rating and a $19.00 price objective on the stock. Finally, Raymond James lowered shares of First Horizon from a “strong-buy” rating to an “outperform” rating and set a $18.00 price objective for the company. in a report on Thursday, July 18th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.31.

First Horizon Stock Up 4.5 %

NYSE:FHN traded up $0.72 during mid-day trading on Friday, hitting $16.61. 5,025,884 shares of the company’s stock were exchanged, compared to its average volume of 6,664,255. The company has a market cap of $9.08 billion, a PE ratio of 11.62, a P/E/G ratio of 3.23 and a beta of 0.89. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. First Horizon Co. has a one year low of $10.08 and a one year high of $17.46. The business has a fifty day moving average price of $15.69 and a 200 day moving average price of $15.18.

First Horizon (NYSE:FHN) last issued its quarterly earnings results 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). First Horizon had a return on equity of 8.84% and a net margin of 14.03%. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $819.82 million. During the same period in the prior year, the firm earned $0.39 earnings per share. Equities analysts predict that First Horizon Co. will post 1.46 EPS for the current year.

First Horizon Announces Dividend

The business also recently announced 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. The ex-dividend date is Friday, September 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.61%. First Horizon’s dividend payout ratio is currently 41.96%.

First Horizon Company 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.