Chickasaw Capital Management LLC Buys Shares of 13,849 First Horizon Co. (NYSE:FHN)

Chickasaw Capital Management LLC bought a new stake in shares of First Horizon Co. (NYSE:FHN) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 13,849 shares of the financial services provider’s stock, valued at approximately $213,000.

Other large investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in shares of First Horizon by 7.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,458,939 shares of the financial services provider’s stock valued at $38,118,000 after acquiring an additional 237,513 shares during the last quarter. Pathstone Family Office LLC increased its stake in First Horizon by 32.0% during the 3rd quarter. Pathstone Family Office LLC now owns 41,037 shares of the financial services provider’s stock worth $455,000 after purchasing an additional 9,948 shares in the last quarter. HighTower Advisors LLC increased its stake in First Horizon by 69.6% during the 3rd quarter. HighTower Advisors LLC now owns 119,122 shares of the financial services provider’s stock worth $1,316,000 after purchasing an additional 48,873 shares in the last quarter. Rhumbline Advisers grew its stake in shares of First Horizon by 2.1% during the 3rd quarter. Rhumbline Advisers now owns 1,681,467 shares of the financial services provider’s stock worth $18,530,000 after acquiring an additional 33,844 shares in the last quarter. Finally, Rafferty Asset Management LLC grew its stake in shares of First Horizon by 27.3% during the 3rd quarter. Rafferty Asset Management LLC now owns 861,983 shares of the financial services provider’s stock worth $9,499,000 after acquiring an additional 184,780 shares in the last quarter. 80.28% of the stock is currently owned by institutional investors and hedge funds.

First Horizon Trading Down 0.1 %

Shares of First Horizon stock traded down $0.01 during midday trading on Wednesday, reaching $14.45. The company had a trading volume of 5,615,716 shares, compared to its average volume of 5,776,689. The stock has a fifty day moving average price of $15.22 and a 200 day moving average price of $14.61. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.95. The firm has a market cap of $7.90 billion, a PE ratio of 10.10, a P/E/G ratio of 1.95 and a beta of 0.91. First Horizon Co. has a fifty-two week low of $10.08 and a fifty-two week high of $16.28.

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, beating the consensus estimate of $0.34 by $0.01. First Horizon had a return on equity of 8.96% and a net margin of 16.07%. The firm had revenue of $819.00 million for the quarter, compared to analyst estimates of $809.51 million. During the same period in the previous year, the firm earned $0.46 earnings per share. The company’s revenue was down 4.7% compared to the same quarter last year. On average, equities analysts anticipate that First Horizon Co. will post 1.5 earnings per share for the current year.

First Horizon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.60 annualized dividend and a dividend yield of 4.15%. First Horizon’s dividend payout ratio is 41.96%.

Wall Street Analyst Weigh In

FHN has been the subject of several recent analyst reports. Wells Fargo & Company increased their price objective on First Horizon from $14.00 to $16.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. Stephens started coverage on First Horizon in a report on Thursday, May 23rd. They set an “overweight” rating and a $19.00 price target for the company. Robert W. Baird raised their price target on First Horizon from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, April 18th. Evercore ISI raised their price target on First Horizon from $17.00 to $17.50 and gave the company an “outperform” rating in a report on Thursday, March 28th. Finally, StockNews.com raised First Horizon from a “sell” rating to a “hold” rating in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.62.

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.