Ategra Capital Management LLC Acquires 10,000 Shares of First Horizon Co. (NYSE:FHN)

Ategra Capital Management LLC boosted its stake in shares of First Horizon Co. (NYSE:FHN) by 1.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 628,637 shares of the financial services provider’s stock after purchasing an additional 10,000 shares during the quarter. First Horizon comprises approximately 8.4% of Ategra Capital Management LLC’s holdings, making the stock its 5th biggest position. Ategra Capital Management LLC’s holdings in First Horizon were worth $12,661,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. JPMorgan Chase & Co. boosted its stake in shares of First Horizon by 160.1% during the 4th quarter. JPMorgan Chase & Co. now owns 5,524,827 shares of the financial services provider’s stock worth $111,270,000 after acquiring an additional 3,400,811 shares in the last quarter. First Citizens Bank & Trust Co. purchased a new position in First Horizon during the fourth quarter worth approximately $304,000. Merit Financial Group LLC acquired a new stake in First Horizon in the fourth quarter valued at approximately $453,000. Smith Group Asset Management LLC purchased a new stake in shares of First Horizon in the fourth quarter valued at approximately $1,813,000. Finally, Atria Investments Inc acquired a new position in shares of First Horizon during the 4th quarter worth approximately $442,000. Hedge funds and other institutional investors own 80.28% of the company’s stock.

Wall Street Analysts Forecast Growth

FHN has been the topic of a number of research analyst reports. Royal Bank of Canada dropped their price target on shares of First Horizon from $24.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, April 17th. StockNews.com cut shares of First Horizon from a “hold” rating to a “sell” rating in a research note on Tuesday. Barclays decreased their price target on shares of First Horizon from $25.00 to $23.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Wells Fargo & Company cut their price objective on First Horizon from $22.00 to $20.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 9th. Finally, Citigroup increased their target price on First Horizon from $24.00 to $25.00 and gave the company a “buy” rating in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.03.

First Horizon Stock Up 3.3 %

Shares of NYSE:FHN opened at $18.89 on Friday. First Horizon Co. has a 52-week low of $14.09 and a 52-week high of $22.44. The stock has a market cap of $9.71 billion, a P/E ratio of 13.89, a PEG ratio of 1.19 and a beta of 0.60. The business has a fifty day moving average of $18.45 and a two-hundred day moving average of $19.64. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14.

First Horizon (NYSE:FHN) last released its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.02. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. The firm had revenue of $823.69 million during the quarter, compared to analysts’ expectations of $825.11 million. During the same period last year, the business earned $0.35 earnings per share. On average, research analysts expect that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Friday, June 13th. First Horizon’s payout ratio is presently 41.67%.

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.