Siena Capital Partners GP LLC Invests $3 Million in First Horizon Co. (NYSE:FHN)

Siena Capital Partners GP LLC bought a new position in First Horizon Co. (NYSE:FHN) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 266,379 shares of the financial services provider’s stock, valued at approximately $3,002,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank bought a new position in First Horizon in the 4th quarter worth approximately $133,345,000. State Street Corp raised its position in First Horizon by 15.7% in the 1st quarter. State Street Corp now owns 23,368,182 shares of the financial services provider’s stock worth $418,736,000 after purchasing an additional 3,173,357 shares during the last quarter. First Trust Capital Management L.P. raised its position in First Horizon by 1,877.5% in the 1st quarter. First Trust Capital Management L.P. now owns 2,889,299 shares of the financial services provider’s stock worth $51,372,000 after purchasing an additional 2,743,189 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of First Horizon during the 2nd quarter valued at $22,016,000. Finally, Goldman Sachs Group Inc. raised its position in shares of First Horizon by 62.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,302,681 shares of the financial services provider’s stock valued at $101,070,000 after acquiring an additional 1,657,018 shares during the last quarter. 76.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. StockNews.com assumed coverage on shares of First Horizon in a research report on Thursday, October 5th. They set a “sell” rating for the company. Jefferies Financial Group dropped their target price on shares of First Horizon from $15.00 to $12.00 in a research report on Tuesday, October 10th. Wedbush upgraded shares of First Horizon from a “neutral” rating to an “outperform” rating and upped their target price for the company from $12.00 to $14.00 in a research report on Friday, November 3rd. Raymond James dropped their target price on shares of First Horizon from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Thursday, October 5th. Finally, Royal Bank of Canada upped their price objective on shares of First Horizon from $13.00 to $14.00 and gave the company a “sector perform” rating in a research report on Wednesday, November 15th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, First Horizon has an average rating of “Hold” and an average price target of $13.00.

First Horizon Stock Down 1.0 %

NYSE FHN traded down $0.12 on Monday, reaching $12.23. The company had a trading volume of 1,862,816 shares, compared to its average volume of 8,859,559. The firm has a market capitalization of $6.83 billion, a price-to-earnings ratio of 7.37, a price-to-earnings-growth ratio of 3.64 and a beta of 0.97. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.94 and a current ratio of 0.95. First Horizon Co. has a 1-year low of $8.99 and a 1-year high of $24.92. The company’s fifty day moving average is $11.09 and its 200-day moving average is $11.64.

First Horizon (NYSE:FHN) last announced its earnings results on Wednesday, October 18th. The financial services provider reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $801.16 million. First Horizon had a net margin of 20.40% and a return on equity of 11.74%. During the same period in the prior year, the business earned $0.44 EPS. On average, research analysts forecast that First Horizon Co. will post 1.41 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.91%. The ex-dividend date is Thursday, December 14th. First Horizon’s payout ratio is presently 35.93%.

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 three segments: Regional Banking, Specialty Banking, and Corporate. It offers general banking services for consumers, businesses, financial institutions, and governments.