Knights of Columbus Asset Advisors LLC Has $5.01 Million Stock Holdings in First Horizon Co. (NYSE:FHN)

Knights of Columbus Asset Advisors LLC lifted its holdings in First Horizon Co. (NYSE:FHN) by 45.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 354,045 shares of the financial services provider’s stock after purchasing an additional 111,070 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in First Horizon were worth $5,013,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the business. Macroview Investment Management LLC bought a new position in shares of First Horizon during the 3rd quarter worth about $25,000. Lazard Asset Management LLC acquired a new position in First Horizon during the second quarter worth $31,000. FWL Investment Management LLC acquired a new stake in shares of First Horizon during the 4th quarter worth about $39,000. Cubist Systematic Strategies LLC acquired a new stake in shares of First Horizon during the third quarter worth approximately $39,000. Finally, Byrne Asset Management LLC bought a new position in First Horizon in the 4th quarter valued at $40,000. 80.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

FHN has been the topic of a number of research reports. UBS Group upgraded shares of First Horizon from a “neutral” rating to a “buy” rating and upped their target price for the stock from $15.50 to $16.00 in a research report on Wednesday, January 24th. StockNews.com upgraded First Horizon from a “sell” rating to a “hold” rating in a research report on Friday. Robert W. Baird raised their target price on shares of First Horizon from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday. Keefe, Bruyette & Woods raised shares of First Horizon from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $16.00 to $18.00 in a research note on Friday, April 5th. Finally, JPMorgan Chase & Co. raised their price objective on shares of First Horizon from $16.00 to $17.50 and gave the company a “neutral” rating in a research note on Thursday, April 4th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.15.

First Horizon Stock Performance

FHN stock opened at $14.62 on Friday. First Horizon Co. has a 1-year low of $8.99 and a 1-year high of $18.99. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 0.13. The firm has a market cap of $8.11 billion, a PE ratio of 10.22, a P/E/G ratio of 3.93 and a beta of 0.94. The business’s 50-day moving average price is $14.55 and its two-hundred day moving average price is $13.37.

First Horizon (NYSE:FHN) last posted its 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 during the quarter, compared to analysts’ expectations of $809.51 million. During the same period in the prior year, the business earned $0.46 EPS. First Horizon’s revenue for the quarter was down 4.7% compared to the same quarter last year. As a group, research analysts forecast that First Horizon Co. will post 1.5 earnings per share for the current year.

First Horizon Announces Dividend

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

First Horizon declared that its board has initiated a share buyback program on Tuesday, January 23rd that permits the company to buyback $650.00 million in shares. This buyback authorization permits the financial services provider to reacquire up to 7.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are 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.