In its most recent disclosure with the Securities and Exchange Commission, Dimensional Fund Advisors LP revealed a 0.7% decrease in its holdings of First Horizon Co. (FHN) during the fourth quarter. The financial services provider’s stock saw 81,879 shares sold by the firm, leaving it with 11,025,110 shares. The total value of Dimensional Fund Advisors’ holdings in First Horizon was reported as $270,114,000.
Various other hedge funds have also made adjustments to their positions in First Horizon. Arizona State Retirement System increased its holdings by 0.4% in the third quarter, adding 638 shares to its portfolio, now totaling 145,352 shares worth $3,329,000. SG Americas Securities LLC saw a significant increase of 131.2% in its stake during the fourth quarter, acquiring an additional 23,529 shares and bringing its total to 41,460 shares valued at $1,016,000. Yousif Capital Management LLC raised its stake by 0.7% during the same period, purchasing 1,809 more shares, resulting in a total of 280,022 shares valued at $6,861,000. Additionally, Octavia Wealth Advisors LLC entered a new position in First Horizon during the fourth quarter, investing approximately $207,000. Assetmark Inc. also increased its stake by 5.3% in the third quarter, acquiring 5,054 shares and bringing its total to 99,683 shares worth $2,283,000. Institutional investors collectively own 77.41% of the stock.
FHN Stock Performance
First Horizon Co. commenced trading on Monday with an opening price of $9.67. The company’s stock has fluctuated between a fifty-two-week low of $8.99 and a fifty-two-week high of $24.92. Its debt-to-equity ratio stands at 0.20, while the current and quick ratios are 0.94 and 0.93, respectively. With a market capitalization of $5.20 billion, First Horizon has a price-to-earnings (P/E) ratio of 5.97 and a financial growth ratio of 1.10. The company has a beta of 0.88. Over the past 50 days, the stock has had a moving average price of $16.60, and over 200 days, it averaged $21.70.
First Horizon recently released its earnings results for the quarter ending on April 18th. The company reported earnings per share of $0.45, falling short of analysts’ consensus estimate of $0.46 by $0.01. Its revenue for the quarter was $863.00 million, slightly lower than the analyst estimate of $871.36 million. Comparing year-over-year, the quarterly revenue showed a 22.6% increase. In the same quarter of the previous year, the company earned $0.38 EPS. Equities analysts have projected that First Horizon Co. will post earnings per share of 1.94 for the current year.
First Horizon also recently declared a quarterly dividend, which will be distributed on Monday, July 3rd. Stockholders of record as of Friday, June 16th will receive a dividend of $0.15 per share. The ex-dividend date for this dividend is Thursday, June 15th. The annualized dividend amounts to $0.60, resulting in a dividend yield of 6.20%. Presently, First Horizon has a dividend payout ratio (DPR) of 37.04%.
FHN Stock Analysis & Forecast
First Horizon National Corporation’s stock is projected to reach an average target price of $18.75 according to analysts’ forecasts. The stock has a Buy rating and STA analysis indicates a Slightly Bullish outlook based on positive and negative signals. The current stock price is $10.06, reflecting changes of -5.98% in the past week, -45.18% in the past month, and -53.68% over the last year.