Handelsinvest Investeringsforvaltning Has $239,000 Holdings in First Horizon Co. (NYSE:FHN)

Handelsinvest Investeringsforvaltning cut its holdings in shares of First Horizon Co. (NYSE:FHN) by 34.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,495 shares of the financial services provider’s stock after selling 8,045 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in First Horizon were worth $239,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. State of Michigan Retirement System lifted its position in First Horizon by 2.4% during the 1st quarter. State of Michigan Retirement System now owns 137,256 shares of the financial services provider’s stock valued at $2,114,000 after purchasing an additional 3,200 shares during the period. Oak Thistle LLC acquired a new position in First Horizon during the 1st quarter valued at about $701,000. Register Financial Advisors LLC acquired a new position in First Horizon during the 1st quarter valued at about $85,000. Wealth Enhancement Advisory Services LLC lifted its position in First Horizon by 1.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 106,112 shares of the financial services provider’s stock valued at $1,634,000 after purchasing an additional 2,029 shares during the period. Finally, Gateway Investment Advisers LLC lifted its position in First Horizon by 10.3% during the 1st quarter. Gateway Investment Advisers LLC now owns 73,319 shares of the financial services provider’s stock valued at $1,129,000 after purchasing an additional 6,876 shares during the period. 80.28% of the stock is currently owned by institutional investors and hedge funds.

First Horizon Stock Down 0.8 %

Shares of FHN traded down $0.12 during mid-day trading on Wednesday, hitting $15.69. 132,835 shares of the company’s stock were exchanged, compared to its average volume of 6,837,450. The company has a market cap of $8.58 billion, a PE ratio of 11.06, a P/E/G ratio of 2.12 and a beta of 0.89. First Horizon Co. has a 52 week low of $10.08 and a 52 week high of $16.28. The company has a 50-day simple moving average of $15.35 and a 200 day simple moving average of $14.71. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.95.

First Horizon (NYSE:FHN) last issued its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. The company had revenue of $819.00 million during the quarter, compared to analysts’ expectations of $809.51 million. First Horizon had a net margin of 16.07% and a return on equity of 8.96%. The business’s quarterly revenue was down 4.7% on a year-over-year basis. During the same period last year, the business earned $0.46 EPS. On average, research analysts forecast that First Horizon Co. will post 1.51 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 14th were paid a dividend of $0.15 per share. The ex-dividend date was Friday, June 14th. This represents a $0.60 annualized dividend and a dividend yield of 3.82%. First Horizon’s dividend payout ratio is currently 41.96%.

Analyst Ratings Changes

FHN has been the topic of a number of analyst reports. Wedbush reiterated an “outperform” rating and issued a $17.00 price target on shares of First Horizon in a research report on Wednesday, April 10th. Stephens initiated coverage on shares of First Horizon in a research report on Thursday, May 23rd. They issued an “overweight” rating and a $19.00 price target on the stock. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $18.00 price target on shares of First Horizon in a research report on Tuesday, June 11th. Barclays increased their price target on shares of First Horizon from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Monday, June 24th. Finally, Wells Fargo & Company increased their price target on shares of First Horizon from $14.00 to $16.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.69.

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.