First Horizon Co. (NYSE:FHN) Short Interest Update

First Horizon Co. (NYSE:FHN) was the recipient of a significant increase in short interest in September. As of September 30th, there was short interest totalling 5,950,000 shares, an increase of 20.9% from the September 15th total of 4,920,000 shares. Based on an average daily trading volume, of 5,900,000 shares, the days-to-cover ratio is presently 1.0 days. Approximately 1.1% of the shares of the stock are short sold.

Analyst Ratings Changes

FHN has been the subject of a number of recent research reports. Jefferies Financial Group lifted their price objective on First Horizon from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Wedbush lowered First Horizon from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $20.00 to $17.00 in a report on Tuesday, September 24th. StockNews.com raised shares of First Horizon from a “sell” rating to a “hold” rating in a research note on Saturday, July 20th. Royal Bank of Canada lifted their target price on First Horizon from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $18.00 price target on shares of First Horizon in a research note on Wednesday, July 17th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.38.

First Horizon Stock Performance

NYSE FHN traded up $0.07 during trading on Monday, hitting $16.45. The company’s stock had a trading volume of 4,741,713 shares, compared to its average volume of 6,508,995. First Horizon has a 52 week low of $10.16 and a 52 week high of $17.46. The firm has a 50 day moving average price of $15.65 and a 200 day moving average price of $15.52. The firm has a market cap of $9.00 billion, a P/E ratio of 11.45, a price-to-earnings-growth ratio of 1.27 and a beta of 0.88. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14.

First Horizon (NYSE:FHN) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). First Horizon had a net margin of 14.03% and a return on equity of 8.84%. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $819.82 million. During the same period in the previous year, the business posted $0.39 earnings per share. Equities research analysts forecast that First Horizon will post 1.46 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.65%. The ex-dividend date was Friday, September 13th. First Horizon’s payout ratio is presently 41.96%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Rise Advisors LLC acquired a new position in First Horizon in the 1st quarter valued at $25,000. UMB Bank n.a. boosted its stake in shares of First Horizon by 365.0% in the 3rd quarter. UMB Bank n.a. now owns 1,688 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,325 shares in the last quarter. Raleigh Capital Management Inc. acquired a new position in shares of First Horizon during the fourth quarter worth $28,000. Fidelis Capital Partners LLC acquired a new position in First Horizon in the 1st quarter worth about $28,000. Finally, Family Firm Inc. bought a new stake in First Horizon during the 2nd quarter worth approximately $28,000. Institutional investors and hedge funds own 80.28% of the company’s stock.

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.