BCM Advisors LLC Purchases 1,417 Shares of First Horizon Co. (NYSE:FHN)

BCM Advisors LLC lifted its position in First Horizon Co. (NYSE:FHN) by 13.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,910 shares of the financial services provider’s stock after buying an additional 1,417 shares during the quarter. BCM Advisors LLC’s holdings in First Horizon were worth $176,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FWL Investment Management LLC acquired a new stake in First Horizon during the 4th quarter valued at $39,000. Cubist Systematic Strategies LLC acquired a new stake in First Horizon during the 3rd quarter valued at $39,000. Compass Wealth Management LLC acquired a new stake in shares of First Horizon during the fourth quarter worth $49,000. Macroview Investment Management LLC acquired a new stake in shares of First Horizon during the third quarter worth $25,000. Finally, CENTRAL TRUST Co lifted its holdings in shares of First Horizon by 141.7% during the third quarter. CENTRAL TRUST Co now owns 2,610 shares of the financial services provider’s stock worth $60,000 after buying an additional 1,530 shares in the last quarter. 80.28% of the stock is owned by institutional investors.

First Horizon Stock Up 2.4 %

Shares of First Horizon stock traded up $0.34 during trading on Friday, reaching $14.62. 5,108,321 shares of the company traded hands, compared to its average volume of 7,154,283. The firm has a market capitalization of $8.11 billion, a PE ratio of 10.18, a P/E/G ratio of 4.00 and a beta of 0.94. The company has a 50 day moving average price of $14.53 and a 200-day moving average price of $13.34. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.94. First Horizon Co. has a 1-year low of $8.99 and a 1-year high of $18.99.

First Horizon (NYSE:FHN) last announced its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The business had revenue of $819.00 million during the quarter, compared to analyst estimates of $809.51 million. First Horizon had a net margin of 16.07% and a return on equity of 8.96%. First Horizon’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.46 EPS. As a group, equities research analysts expect that First Horizon Co. will post 1.46 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, April 1st. Shareholders of record on Friday, March 15th were paid a dividend of $0.15 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.60 dividend on an annualized basis and a yield of 4.10%. First Horizon’s dividend payout ratio (DPR) is presently 41.96%.

First Horizon announced that its board has initiated a stock buyback program on Tuesday, January 23rd that permits the company to repurchase $650.00 million in shares. This repurchase authorization permits the financial services provider to buy up to 7.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

FHN has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their target price on First Horizon from $16.00 to $17.50 and gave the stock a “neutral” rating in a report on Thursday, April 4th. Wedbush reaffirmed an “outperform” rating and issued a $17.00 price target on shares of First Horizon in a research note on Wednesday, April 10th. Royal Bank of Canada raised First Horizon from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $16.00 to $18.00 in a research note on Tuesday, April 9th. UBS Group raised First Horizon from a “neutral” rating to a “buy” rating and boosted their price target for the company from $15.50 to $16.00 in a research note on Wednesday, January 24th. Finally, Robert W. Baird lifted their target price on First Horizon from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.15.

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.