National Bank of Canada FI Has $63.30 Million Position in First Horizon Co. (NYSE:FHN)

National Bank of Canada FI grew its position in shares of First Horizon Co. (NYSE:FHN) by 499.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,009,111 shares of the financial services provider’s stock after purchasing an additional 3,340,700 shares during the quarter. National Bank of Canada FI’s holdings in First Horizon were worth $63,304,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. HB Wealth Management LLC lifted its holdings in First Horizon by 10.3% during the 4th quarter. HB Wealth Management LLC now owns 26,071 shares of the financial services provider’s stock worth $369,000 after buying an additional 2,433 shares during the period. Cooper Financial Group bought a new stake in First Horizon in the fourth quarter valued at approximately $167,000. Pacer Advisors Inc. increased its position in First Horizon by 79.3% during the 4th quarter. Pacer Advisors Inc. now owns 84,010 shares of the financial services provider’s stock valued at $1,190,000 after purchasing an additional 37,168 shares during the period. Red Door Wealth Management LLC raised its holdings in First Horizon by 3.4% during the 4th quarter. Red Door Wealth Management LLC now owns 32,239 shares of the financial services provider’s stock worth $456,000 after purchasing an additional 1,070 shares during the last quarter. Finally, Franklin Street Advisors Inc. NC lifted its position in shares of First Horizon by 20.1% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 19,083 shares of the financial services provider’s stock worth $270,000 after purchasing an additional 3,200 shares during the period. 80.28% of the stock is currently owned by institutional investors.

First Horizon Stock Performance

Shares of First Horizon stock traded down $0.18 during trading hours on Wednesday, reaching $16.36. The company had a trading volume of 5,625,023 shares, compared to its average volume of 6,977,522. The firm has a market cap of $8.95 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of 3.29 and a beta of 0.89. First Horizon Co. has a one year low of $10.08 and a one year high of $17.46. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. The business has a fifty day simple moving average of $15.57 and a 200 day simple moving average of $14.94.

First Horizon (NYSE:FHN) last issued its earnings results on Wednesday, July 17th. The financial services provider reported $0.36 EPS for the quarter, missing the consensus estimate 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 quarter in the prior year, the business earned $0.39 EPS. On average, analysts anticipate that First Horizon Co. will post 1.48 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, September 13th. This represents a $0.60 annualized dividend and a yield of 3.67%. First Horizon’s dividend payout ratio is currently 41.96%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Raymond James downgraded shares of First Horizon from a “strong-buy” rating to an “outperform” rating and set a $18.00 target price for the company. in a research note on Thursday, July 18th. Wells Fargo & Company upped their target price on shares of First Horizon from $14.00 to $16.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. Royal Bank of Canada increased their price target on First Horizon from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. lifted their target price on shares of First Horizon from $16.00 to $17.50 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. Finally, Stephens initiated coverage on shares of First Horizon in a report on Thursday, May 23rd. They issued an “overweight” rating and a $19.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, First Horizon currently has an average rating of “Moderate Buy” and an average target price of $17.31.

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.