Gofen & Glossberg LLC IL Buys 26,790 Shares of First Horizon Co. (NYSE:FHN)

Gofen & Glossberg LLC IL boosted its stake in First Horizon Co. (NYSE:FHNGet Rating) by 20.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 159,781 shares of the financial services provider’s stock after purchasing an additional 26,790 shares during the quarter. Gofen & Glossberg LLC IL’s holdings in First Horizon were worth $3,493,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of FHN. Geode Capital Management LLC boosted its holdings in shares of First Horizon by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 7,387,286 shares of the financial services provider’s stock valued at $120,743,000 after buying an additional 84,473 shares in the last quarter. Invesco Ltd. raised its position in shares of First Horizon by 0.3% in the 4th quarter. Invesco Ltd. now owns 8,065,199 shares of the financial services provider’s stock worth $131,705,000 after purchasing an additional 26,530 shares during the last quarter. Gotham Asset Management LLC raised its position in shares of First Horizon by 209.7% in the 4th quarter. Gotham Asset Management LLC now owns 33,905 shares of the financial services provider’s stock worth $554,000 after purchasing an additional 22,956 shares during the last quarter. Parallax Volatility Advisers L.P. purchased a new position in shares of First Horizon in the 4th quarter worth about $298,000. Finally, Blair William & Co. IL raised its position in shares of First Horizon by 78.5% in the 4th quarter. Blair William & Co. IL now owns 27,789 shares of the financial services provider’s stock worth $454,000 after purchasing an additional 12,220 shares during the last quarter. Institutional investors own 81.49% of the company’s stock.

First Horizon Trading Up 0.2 %

Shares of NYSE:FHN opened at $23.54 on Friday. The stock has a 50 day moving average of $22.83 and a 200 day moving average of $22.65. The company has a market cap of $12.59 billion, a PE ratio of 16.35, a price-to-earnings-growth ratio of 2.94 and a beta of 1.04. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.21. First Horizon Co. has a 12-month low of $15.00 and a 12-month high of $24.24.

First Horizon (NYSE:FHNGet Rating) last announced its quarterly earnings data on Tuesday, July 19th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). First Horizon had a net margin of 26.78% and a return on equity of 12.27%. During the same period in the prior year, the company earned $0.58 EPS. As a group, equities research analysts expect that First Horizon Co. will post 1.56 EPS for the current year.

First Horizon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 9th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $0.60 annualized dividend and a yield of 2.55%. First Horizon’s payout ratio is 41.67%.

Wall Street Analysts Forecast Growth

FHN has been the subject of several recent analyst reports. StockNews.com raised First Horizon from a “sell” rating to a “hold” rating in a research report on Wednesday. Truist Financial boosted their target price on First Horizon to $25.00 in a research report on Friday, June 3rd. Nine investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $22.83.

First Horizon Profile

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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.

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Institutional Ownership by Quarter for First Horizon (NYSE:FHN)

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