5,241 Shares in First Horizon Co. (NYSE:FHN) Purchased by Wetzel Investment Advisors Inc.

Wetzel Investment Advisors Inc. bought a new stake in First Horizon Co. (NYSE:FHN) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 5,241 shares of the financial services provider’s stock, valued at approximately $74,000.

Several other hedge funds also recently modified their holdings of FHN. Macroview Investment Management LLC purchased a new position in shares of First Horizon during the third quarter valued at approximately $25,000. Lazard Asset Management LLC acquired a new stake in shares of First Horizon during the second quarter worth $31,000. FWL Investment Management LLC purchased a new stake in shares of First Horizon in the fourth quarter valued at $39,000. Cubist Systematic Strategies LLC acquired a new position in First Horizon in the third quarter valued at $39,000. Finally, Byrne Asset Management LLC purchased a new position in First Horizon during the fourth quarter worth about $40,000. 80.28% of the stock is owned by institutional investors and hedge funds.

First Horizon Price Performance

FHN opened at $14.63 on Friday. First Horizon Co. has a twelve month low of $8.99 and a twelve month 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 $8.12 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 4.03 and a beta of 0.94. The company has a fifty day simple moving average of $14.55 and a 200 day simple moving average of $13.39.

First Horizon (NYSE:FHN) last announced its earnings results on Wednesday, April 17th. The financial services provider reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. First Horizon had a return on equity of 8.96% and a net margin of 16.07%. The company had revenue of $819.00 million during the quarter, compared to the consensus estimate of $809.51 million. During the same period last year, the firm earned $0.46 earnings per share. The company’s revenue was down 4.7% on a year-over-year basis. Equities research analysts expect that First Horizon Co. will post 1.5 EPS for the current fiscal year.

First Horizon announced that its board has authorized a share repurchase program on Tuesday, January 23rd that authorizes the company to buyback $650.00 million in shares. This buyback authorization authorizes the financial services provider to buy up to 7.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

First Horizon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders 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 annualized dividend and a yield of 4.10%. First Horizon’s dividend payout ratio is presently 41.96%.

Wall Street Analysts Forecast Growth

FHN has been the topic of several recent analyst reports. Evercore ISI increased their price objective on shares of First Horizon from $17.00 to $17.50 and gave the stock an “outperform” rating in a report on Thursday, March 28th. StockNews.com upgraded shares of First Horizon from a “sell” rating to a “hold” rating in a report on Friday. Barclays started coverage on First Horizon in a report on Friday, March 8th. They set an “overweight” rating and a $18.00 price objective for the company. Raymond James upgraded First Horizon from an “outperform” rating to a “strong-buy” rating and lifted their target price for the company from $13.00 to $17.00 in a report on Friday, January 5th. Finally, Royal Bank of Canada upgraded First Horizon from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $16.00 to $18.00 in a research note on Tuesday, April 9th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.15.

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.