First Horizon Corporation (NYSE:FHN) Shares Purchased by Farther Finance Advisors LLC

Farther Finance Advisors LLC raised its holdings in shares of First Horizon Corporation (NYSE:FHN) by 181.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,224 shares of the financial services provider’s stock after buying an additional 4,656 shares during the period. Farther Finance Advisors LLC’s holdings in First Horizon were worth $138,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in FHN. Jones Financial Companies Lllp acquired a new stake in First Horizon in the fourth quarter valued at $30,000. Lee Danner & Bass Inc. acquired a new stake in First Horizon in the 4th quarter valued at about $50,000. Versant Capital Management Inc lifted its holdings in First Horizon by 137.5% in the 1st quarter. Versant Capital Management Inc now owns 3,411 shares of the financial services provider’s stock valued at $66,000 after acquiring an additional 1,975 shares during the last quarter. BankPlus Trust Department acquired a new stake in First Horizon in the 4th quarter valued at about $70,000. Finally, Covestor Ltd lifted its holdings in First Horizon by 82.1% in the 4th quarter. Covestor Ltd now owns 3,878 shares of the financial services provider’s stock valued at $78,000 after acquiring an additional 1,748 shares during the last quarter. 80.28% of the stock is owned by institutional investors and hedge funds.

First Horizon Stock Up 2.1%

Shares of NYSE:FHN opened at $19.92 on Friday. The business’s 50 day simple moving average is $19.13 and its two-hundred day simple moving average is $19.81. The firm has a market cap of $10.10 billion, a P/E ratio of 13.83, a PEG ratio of 1.00 and a beta of 0.61. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.95 and a current ratio of 0.96. First Horizon Corporation has a 52-week low of $14.34 and a 52-week high of $22.44.

First Horizon (NYSE:FHN) last announced its earnings results on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.02. The company had revenue of $823.69 million for the quarter, compared to analysts’ expectations of $825.11 million. First Horizon had a return on equity of 10.33% and a net margin of 16.13%. During the same quarter in the previous year, the firm earned $0.35 earnings per share. As a group, research analysts forecast that First Horizon Corporation will post 1.67 EPS for the current fiscal year.

First Horizon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Friday, June 13th. First Horizon’s dividend payout ratio (DPR) is presently 41.67%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on FHN shares. Wells Fargo & Company dropped their target price on First Horizon from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 9th. Jefferies Financial Group started coverage on First Horizon in a report on Wednesday, May 21st. They issued a “buy” rating and a $25.00 price objective on the stock. Wall Street Zen upgraded First Horizon from a “sell” rating to a “hold” rating in a report on Saturday, June 14th. Barclays reduced their price objective on First Horizon from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Finally, Raymond James Financial reduced their price objective on First Horizon from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Wednesday, April 2nd. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, First Horizon has an average rating of “Moderate Buy” and an average target price of $22.53.

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.