Southern Capital Advisors LLC Increases Position in First Horizon Co. (NYSE:FHN)

Southern Capital Advisors LLC boosted its position in First Horizon Co. (NYSE:FHN) by 76.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 25,676 shares of the financial services provider’s stock after purchasing an additional 11,088 shares during the period. Southern Capital Advisors LLC’s holdings in First Horizon were worth $399,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Sei Investments Co. lifted its stake in First Horizon by 57.6% in the first quarter. Sei Investments Co. now owns 426,792 shares of the financial services provider’s stock valued at $6,573,000 after purchasing an additional 155,982 shares during the last quarter. LSV Asset Management lifted its stake in First Horizon by 49.8% in the first quarter. LSV Asset Management now owns 13,333,738 shares of the financial services provider’s stock valued at $205,340,000 after purchasing an additional 4,434,929 shares during the last quarter. Seven Eight Capital LP purchased a new position in First Horizon in the first quarter valued at approximately $2,366,000. O Shaughnessy Asset Management LLC lifted its stake in First Horizon by 286.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 65,730 shares of the financial services provider’s stock valued at $1,012,000 after purchasing an additional 48,720 shares during the last quarter. Finally, M&G Plc purchased a new position in First Horizon in the first quarter valued at approximately $8,019,000. Hedge funds and other institutional investors own 80.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of First Horizon from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Royal Bank of Canada boosted their target price on shares of First Horizon from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. StockNews.com raised shares of First Horizon from a “sell” rating to a “hold” rating in a report on Saturday, July 20th. Barclays boosted their target price on shares of First Horizon from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, Wedbush cut shares of First Horizon from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $20.00 to $17.00 in a report on Tuesday, September 24th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, First Horizon presently has an average rating of “Moderate Buy” and a consensus target price of $17.77.

First Horizon Trading Up 0.8 %

First Horizon stock opened at $17.22 on Monday. The stock has a market cap of $9.42 billion, a P/E ratio of 11.95, a PEG ratio of 1.30 and a beta of 0.88. First Horizon Co. has a fifty-two week low of $10.50 and a fifty-two week high of $17.68. The firm’s fifty day moving average price is $16.07 and its 200-day moving average price is $15.67. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 1.84.

First Horizon (NYSE:FHN) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.04. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $821.63 million. First Horizon had a net margin of 15.43% and a return on equity of 9.51%. During the same quarter in the prior year, the firm posted $0.27 earnings per share. Equities research analysts forecast that First Horizon Co. will post 1.48 earnings per share for the current fiscal year.

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.