Lecap Asset Management Ltd. Has $1.34 Million Holdings in First Horizon Co. (NYSE:FHN)

Lecap Asset Management Ltd. lifted its stake in First Horizon Co. (NYSE:FHN) by 48.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 85,187 shares of the financial services provider’s stock after buying an additional 27,765 shares during the period. Lecap Asset Management Ltd.’s holdings in First Horizon were worth $1,343,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Rise Advisors LLC bought a new position in First Horizon in the 1st quarter valued at $25,000. Raleigh Capital Management Inc. acquired a new position in First Horizon during the 4th quarter valued at about $28,000. Fidelis Capital Partners LLC bought a new position in shares of First Horizon in the 1st quarter valued at about $28,000. Fortitude Family Office LLC boosted its stake in shares of First Horizon by 129.3% in the 1st quarter. Fortitude Family Office LLC now owns 1,954 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 1,102 shares during the last quarter. Finally, Richardson Financial Services Inc. acquired a new stake in shares of First Horizon during the 4th quarter worth approximately $35,000. Institutional investors own 80.28% of the company’s stock.

First Horizon Price Performance

Shares of FHN stock traded up $0.01 on Wednesday, hitting $15.82. 3,332,906 shares of the company’s stock were exchanged, compared to its average volume of 6,701,005. The company has a 50 day moving average of $15.60 and a 200 day moving average of $15.14. First Horizon Co. has a 12 month low of $10.08 and a 12 month high of $17.46. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market cap of $8.65 billion, a P/E ratio of 11.06, a price-to-earnings-growth ratio of 3.23 and a beta of 0.89.

First Horizon (NYSE:FHN) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $819.82 million. First Horizon had a return on equity of 8.84% and a net margin of 14.03%. During the same period in the previous year, the firm posted $0.39 earnings per share. On average, equities research analysts predict that First Horizon Co. will post 1.46 EPS for the current year.

First Horizon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend is Friday, September 13th. First Horizon’s payout ratio is currently 41.96%.

Analysts Set New Price Targets

A number of analysts have commented on FHN shares. Jefferies Financial Group lifted their target price on shares of First Horizon from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $18.00 price objective on shares of First Horizon in a report on Wednesday, July 17th. Raymond James cut First Horizon from a “strong-buy” rating to an “outperform” rating and set a $18.00 target price on the stock. in a report on Thursday, July 18th. Stephens started coverage on shares of First Horizon in a report on Thursday, May 23rd. They set an “overweight” rating and a $19.00 price objective for the company. Finally, StockNews.com upgraded shares of First Horizon from a “sell” rating to a “hold” rating in a report on Saturday, July 20th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.31.

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.