Cerity Partners LLC Has $2.46 Million Stock Holdings in First Horizon Corporation (NYSE:FHN)

Cerity Partners LLC boosted its position in First Horizon Corporation (NYSE:FHN) by 22.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 126,555 shares of the financial services provider’s stock after buying an additional 22,852 shares during the quarter. Cerity Partners LLC’s holdings in First Horizon were worth $2,458,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. DMC Group LLC increased its position in shares of First Horizon by 8.5% during the 1st quarter. DMC Group LLC now owns 33,324 shares of the financial services provider’s stock worth $647,000 after purchasing an additional 2,623 shares during the last quarter. Greenleaf Trust increased its position in shares of First Horizon by 3.9% during the 1st quarter. Greenleaf Trust now owns 20,919 shares of the financial services provider’s stock worth $406,000 after purchasing an additional 779 shares during the last quarter. M&T Bank Corp increased its position in shares of First Horizon by 23.2% during the 1st quarter. M&T Bank Corp now owns 24,762 shares of the financial services provider’s stock worth $481,000 after purchasing an additional 4,664 shares during the last quarter. Brown Advisory Inc. increased its position in shares of First Horizon by 13.3% during the 1st quarter. Brown Advisory Inc. now owns 69,033 shares of the financial services provider’s stock worth $1,341,000 after purchasing an additional 8,110 shares during the last quarter. Finally, Crossmark Global Holdings Inc. increased its position in shares of First Horizon by 14.5% during the 1st quarter. Crossmark Global Holdings Inc. now owns 40,075 shares of the financial services provider’s stock worth $778,000 after purchasing an additional 5,071 shares during the last quarter. Institutional investors and hedge funds own 80.28% of the company’s stock.

Analyst Ratings Changes

FHN has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their target price on First Horizon from $19.50 to $22.50 and gave the stock a “neutral” rating in a research note on Tuesday, July 1st. Truist Financial lifted their target price on First Horizon from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Friday, July 11th. Bank of America lifted their target price on First Horizon from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday. Keefe, Bruyette & Woods reduced their price target on First Horizon from $24.00 to $22.00 and set a “market perform” rating for the company in a research note on Thursday, April 17th. Finally, Baird R W upgraded First Horizon from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 7th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, First Horizon presently has an average rating of “Moderate Buy” and an average target price of $23.28.

First Horizon Price Performance

NYSE:FHN opened at $22.33 on Friday. The firm has a market capitalization of $11.33 billion, a price-to-earnings ratio of 14.41, a P/E/G ratio of 1.10 and a beta of 0.61. First Horizon Corporation has a 52-week low of $14.34 and a 52-week high of $22.44. The stock has a fifty day moving average of $20.56 and a 200 day moving average of $19.99. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.96.

First Horizon (NYSE:FHN) last released its earnings results on Wednesday, July 16th. The financial services provider reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. First Horizon had a return on equity of 10.55% and a net margin of 17.10%. The company had revenue of $830.19 million during the quarter, compared to analyst estimates of $832.95 million. During the same quarter in the previous year, the company posted $0.36 EPS. On average, research analysts expect that First Horizon Corporation will post 1.67 EPS for the current fiscal year.

First Horizon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were issued a dividend of $0.15 per share. The ex-dividend date was Friday, June 13th. This represents a $0.60 dividend on an annualized basis and a yield of 2.69%. First Horizon’s dividend payout ratio is presently 41.67%.

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.