BCM Advisors LLC Has $176,000 Stock Position in First Horizon Co. (NYSE:FHN)

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

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Cetera Investment Advisers boosted its stake in shares of First Horizon by 3.2% during the 1st quarter. Cetera Investment Advisers now owns 15,738 shares of the financial services provider’s stock worth $370,000 after buying an additional 491 shares during the last quarter. Blair William & Co. IL increased its holdings in shares of First Horizon by 2.1% during the first quarter. Blair William & Co. IL now owns 28,364 shares of the financial services provider’s stock worth $666,000 after purchasing an additional 575 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of First Horizon by 0.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 140,326 shares of the financial services provider’s stock worth $3,068,000 after acquiring an additional 788 shares in the last quarter. Wetherby Asset Management Inc. boosted its position in First Horizon by 7.0% in the first quarter. Wetherby Asset Management Inc. now owns 12,152 shares of the financial services provider’s stock valued at $285,000 after buying an additional 800 shares in the last quarter. Finally, United Services Automobile Association boosted its position in First Horizon by 2.5% in the second quarter. United Services Automobile Association now owns 34,254 shares of the financial services provider’s stock valued at $386,000 after buying an additional 836 shares in the last quarter. Institutional investors own 80.28% of the company’s stock.

Analysts Set New Price Targets

FHN has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price target on shares of First Horizon from $16.00 to $17.50 and gave the stock a “neutral” rating in a report on Thursday, April 4th. Robert W. Baird lifted their target price on shares of First Horizon from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday. Raymond James raised shares of First Horizon from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $13.00 to $17.00 in a research note on Friday, January 5th. Evercore ISI increased their price objective on shares of First Horizon from $17.00 to $17.50 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Finally, Keefe, Bruyette & Woods upgraded shares of First Horizon from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $16.00 to $18.00 in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.15.

First Horizon Stock Up 2.4 %

NYSE:FHN traded up $0.34 during trading hours on Friday, reaching $14.62. The company’s stock had a trading volume of 5,108,321 shares, compared to its average volume of 7,154,283. The company has a market capitalization of $8.11 billion, a P/E ratio of 10.18, a price-to-earnings-growth ratio of 4.00 and a beta of 0.94. First Horizon Co. has a 12 month low of $8.99 and a 12 month high of $18.99. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.94 and a current ratio of 0.96. The stock has a 50 day moving average price of $14.53 and a two-hundred day moving average price of $13.34.

First Horizon (NYSE:FHN) last issued its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. First Horizon had a return on equity of 8.96% and a net margin of 16.07%. The business had revenue of $819.00 million for the quarter, compared to the consensus estimate of $809.51 million. During the same period in the prior year, the firm posted $0.46 earnings per share. The business’s quarterly revenue was down 4.7% on a year-over-year basis. Equities analysts predict that First Horizon Co. will post 1.46 EPS for the current fiscal year.

First Horizon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.10%. The ex-dividend date was Thursday, March 14th. First Horizon’s payout ratio is 41.96%.

First Horizon declared that its Board of Directors has authorized a share buyback plan on Tuesday, January 23rd that authorizes the company to repurchase $650.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 7.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

About First Horizon

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.