AlphaQ Advisors LLC Has $179,000 Holdings in First Horizon Co. (NYSE:FHN)

AlphaQ Advisors LLC lessened its stake in First Horizon Co. (NYSE:FHN) by 11.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,640 shares of the financial services provider’s stock after selling 1,584 shares during the quarter. AlphaQ Advisors LLC’s holdings in First Horizon were worth $179,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Macroview Investment Management LLC bought a new position in First Horizon during the 3rd quarter worth $25,000. FNY Investment Advisers LLC increased its position in shares of First Horizon by 241.5% in the third quarter. FNY Investment Advisers LLC now owns 2,800 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 1,980 shares during the period. Lazard Asset Management LLC acquired a new stake in First Horizon in the second quarter valued at about $31,000. FWL Investment Management LLC acquired a new stake in First Horizon in the fourth quarter valued at about $39,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in First Horizon in the third quarter valued at about $39,000. Institutional investors and hedge funds own 80.28% of the company’s stock.

Wall Street Analysts Forecast Growth

FHN has been the topic of a number of recent research reports. Evercore ISI lifted their price target on First Horizon from $17.00 to $17.50 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Keefe, Bruyette & Woods raised First Horizon from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $16.00 to $18.00 in a research note on Friday, April 5th. StockNews.com downgraded First Horizon from a “hold” rating to a “sell” rating in a report on Wednesday, February 7th. Royal Bank of Canada upgraded First Horizon from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $16.00 to $18.00 in a report on Tuesday. Finally, JPMorgan Chase & Co. lifted their target price on First Horizon from $16.00 to $17.50 and gave the stock a “neutral” rating in a report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.00.

First Horizon Stock Performance

Shares of NYSE FHN traded down $0.26 during trading on Friday, reaching $14.20. 4,647,998 shares of the stock traded hands, compared to its average volume of 5,448,413. First Horizon Co. has a 52-week low of $8.99 and a 52-week high of $18.99. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.95 and a quick ratio of 0.94. The company has a 50-day moving average of $14.51 and a 200-day moving average of $13.26. The stock has a market capitalization of $7.88 billion, a P/E ratio of 9.28, a price-to-earnings-growth ratio of 4.13 and a beta of 0.94.

First Horizon (NYSE:FHN) last released its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. First Horizon had a return on equity of 9.94% and a net margin of 17.80%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $784.20 million. During the same period in the previous year, the company posted $0.51 EPS. Analysts forecast that First Horizon Co. will post 1.44 EPS for the current fiscal year.

First Horizon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a $0.15 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.60 dividend on an annualized basis and a yield of 4.23%. First Horizon’s dividend payout ratio is currently 39.22%.

First Horizon declared that its Board of Directors has authorized a share repurchase program on Tuesday, January 23rd that allows the company to repurchase $650.00 million in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 7.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

First Horizon Profile

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.