KMG Fiduciary Partners LLC Buys 952 Shares of First Horizon Co. (NYSE:FHN)

KMG Fiduciary Partners LLC increased its stake in shares of First Horizon Co. (NYSE:FHN) by 0.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 150,201 shares of the financial services provider’s stock after acquiring an additional 952 shares during the period. KMG Fiduciary Partners LLC’s holdings in First Horizon were worth $2,333,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in FHN. Goldman Sachs Group Inc. lifted its stake in shares of First Horizon by 2.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,453,280 shares of the financial services provider’s stock worth $20,578,000 after buying an additional 38,455 shares during the last quarter. Vanguard Group Inc. lifted its position in First Horizon by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 56,946,272 shares of the financial services provider’s stock worth $806,359,000 after acquiring an additional 171,222 shares during the last quarter. CWM LLC boosted its holdings in First Horizon by 9.9% during the first quarter. CWM LLC now owns 38,950 shares of the financial services provider’s stock valued at $600,000 after acquiring an additional 3,520 shares during the period. Rise Advisors LLC acquired a new stake in shares of First Horizon in the first quarter valued at about $25,000. Finally, Wedmont Private Capital increased its stake in shares of First Horizon by 13.4% in the first quarter. Wedmont Private Capital now owns 36,680 shares of the financial services provider’s stock worth $551,000 after purchasing an additional 4,346 shares during the period. 80.28% of the stock is owned by institutional investors.

First Horizon Stock Up 0.1 %

FHN opened at $17.46 on Friday. The firm has a market cap of $9.55 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 1.27 and a beta of 0.88. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95. The firm’s 50-day simple moving average is $15.88 and its 200-day simple moving average is $15.58. First Horizon Co. has a twelve month low of $10.16 and a twelve month high of $17.68.

First Horizon (NYSE:FHN) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.04. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $821.63 million. First Horizon had a net margin of 14.03% and a return on equity of 8.84%. During the same period in the prior year, the firm earned $0.27 earnings per share. Equities research analysts anticipate that First Horizon Co. will post 1.46 EPS for the current fiscal year.

First Horizon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend was Friday, September 13th. First Horizon’s payout ratio is presently 41.96%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Barclays increased their target price on First Horizon from $19.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday. StockNews.com raised shares of First Horizon from a “sell” rating to a “hold” rating in a research report on Saturday, July 20th. Evercore ISI reduced their price target on shares of First Horizon from $18.50 to $18.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. JPMorgan Chase & Co. cut their price objective on shares of First Horizon from $19.00 to $18.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Finally, Wedbush cut First Horizon from an “outperform” rating to a “neutral” rating and cut their price target for the company from $20.00 to $17.00 in a report on Tuesday, September 24th. 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 data from MarketBeat, First Horizon currently has a consensus rating of “Moderate Buy” and an average target price of $17.77.

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.