Wealth Enhancement Advisory Services LLC Sells 10,436 Shares of First Horizon Corporation (NYSE:FHN)

Wealth Enhancement Advisory Services LLC decreased its stake in shares of First Horizon Corporation (NYSE:FHN) by 6.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,855 shares of the financial services provider’s stock after selling 10,436 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in First Horizon were worth $2,755,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp bought a new stake in shares of First Horizon in the 4th quarter valued at about $30,000. Lee Danner & Bass Inc. bought a new stake in shares of First Horizon in the 4th quarter valued at about $50,000. Farther Finance Advisors LLC raised its holdings in shares of First Horizon by 29.9% in the 4th quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 591 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of 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 purchasing an additional 1,975 shares in the last quarter. Finally, Covestor Ltd raised its holdings in shares of 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 purchasing an additional 1,748 shares in the last quarter. Institutional investors own 80.28% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on FHN shares. Wells Fargo & Company reduced their price target on shares of First Horizon from $22.00 to $20.00 and set an “equal weight” rating for the company in a report on Wednesday, April 9th. Wall Street Zen lowered shares of First Horizon from a “hold” rating to a “sell” rating in a report on Sunday, June 22nd. Bank of America lifted their price objective on shares of First Horizon from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Baird R W raised shares of First Horizon from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 7th. Finally, Truist Financial began coverage on shares of First Horizon in a research report on Tuesday, May 13th. They issued a “hold” rating and a $21.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.53.

First Horizon Stock Up 0.8%

NYSE:FHN opened at $21.08 on Friday. The company has a market cap of $10.69 billion, a PE ratio of 14.64, a P/E/G ratio of 1.07 and a beta of 0.61. First Horizon Corporation has a twelve month low of $14.34 and a twelve month high of $22.44. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.20. The company’s 50 day moving average is $19.47 and its two-hundred day moving average is $19.81.

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

First Horizon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend is Friday, June 13th. First Horizon’s dividend payout ratio is presently 41.67%.

First Horizon Company 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.