Emerald Mutual Fund Advisers Trust Has $243,000 Stock Position in First Horizon Co. (NYSE:FHN)

Emerald Mutual Fund Advisers Trust lessened its holdings in First Horizon Co. (NYSE:FHN) by 52.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,631 shares of the financial services provider’s stock after selling 17,011 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in First Horizon were worth $243,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of FHN. Access Investment Management LLC lifted its position in shares of First Horizon by 0.8% in the second quarter. Access Investment Management LLC now owns 87,655 shares of the financial services provider’s stock worth $1,382,000 after buying an additional 715 shares during the last quarter. First Trust Direct Indexing L.P. boosted its position in First Horizon by 6.5% during the first quarter. First Trust Direct Indexing L.P. now owns 12,623 shares of the financial services provider’s stock worth $194,000 after purchasing an additional 765 shares during the period. Simplicity Wealth LLC raised its position in shares of First Horizon by 2.8% in the second quarter. Simplicity Wealth LLC now owns 29,282 shares of the financial services provider’s stock valued at $462,000 after purchasing an additional 786 shares during the period. KMG Fiduciary Partners LLC lifted its stake in shares of First Horizon by 0.6% in the third quarter. KMG Fiduciary Partners LLC now owns 150,201 shares of the financial services provider’s stock worth $2,333,000 after buying an additional 952 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in shares of First Horizon by 7.5% during the 2nd quarter. CIBC Asset Management Inc now owns 15,771 shares of the financial services provider’s stock worth $249,000 after buying an additional 1,094 shares during the period. 80.28% of the stock is currently owned by institutional investors.

First Horizon Stock Down 0.8 %

FHN opened at $17.19 on Monday. The firm has a market cap of $9.21 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 1.30 and a beta of 0.86. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 1.84. The firm’s 50-day simple moving average is $16.21 and its 200-day simple moving average is $15.77. First Horizon Co. has a twelve month low of $10.89 and a twelve month high of $17.93.

First Horizon (NYSE:FHN) last posted 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 company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $821.63 million. First Horizon had a net margin of 15.43% and a return on equity of 9.51%. During the same quarter last year, the business posted $0.27 earnings per share. Equities research analysts anticipate that First Horizon Co. will post 1.48 EPS for the current fiscal year.

First Horizon declared that its Board of Directors has initiated a stock buyback program on Tuesday, October 29th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 10.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

First Horizon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Friday, December 13th. First Horizon’s payout ratio is presently 43.48%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. JPMorgan Chase & Co. dropped their target price on shares of First Horizon from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Stephens boosted their price objective on First Horizon from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Barclays raised their target price on First Horizon from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Raymond James lowered First Horizon from a “strong-buy” rating to an “outperform” rating and set a $18.00 price target for the company. in a report on Thursday, July 18th. Finally, Evercore ISI raised their price objective on shares of First Horizon from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.92.

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.