Barclays PLC Has $50.11 Million Stake in First Horizon Corporation $FHN

Barclays PLC lifted its holdings in First Horizon Corporation (NYSE:FHN) by 370.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,216,410 shares of the financial services provider’s stock after acquiring an additional 1,745,296 shares during the quarter. Barclays PLC owned approximately 0.44% of First Horizon worth $50,113,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of First Horizon by 313.2% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 62,164 shares of the financial services provider’s stock worth $1,406,000 after purchasing an additional 47,119 shares during the last quarter. First Horizon Corp bought a new position in shares of First Horizon in the third quarter valued at about $2,361,000. Allianz Asset Management GmbH acquired a new position in First Horizon during the 3rd quarter worth about $6,416,000. Voya Investment Management LLC grew its holdings in First Horizon by 301.4% during the 3rd quarter. Voya Investment Management LLC now owns 229,860 shares of the financial services provider’s stock worth $5,197,000 after acquiring an additional 172,599 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new stake in First Horizon during the 3rd quarter worth about $1,211,000. 80.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. National Bank Financial set a $27.00 target price on shares of First Horizon in a research note on Friday, January 16th. Stephens boosted their price objective on shares of First Horizon from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Citigroup upped their price objective on First Horizon from $28.00 to $28.50 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Deutsche Bank Aktiengesellschaft began coverage on First Horizon in a research report on Tuesday, December 16th. They issued a “buy” rating and a $28.00 price objective on the stock. Finally, Wall Street Zen upgraded First Horizon from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, First Horizon currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.66.

Insider Activity at First Horizon

In related news, EVP Anthony J. Restel sold 5,719 shares of the company’s stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $24.35, for a total value of $139,257.65. Following the completion of the sale, the executive vice president owned 619,132 shares in the company, valued at approximately $15,075,864.20. This represents a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.04% of the stock is currently owned by company insiders.

First Horizon Trading Up 0.0%

FHN opened at $22.82 on Tuesday. The firm has a 50 day simple moving average of $24.46 and a 200 day simple moving average of $23.12. First Horizon Corporation has a fifty-two week low of $15.19 and a fifty-two week high of $26.56. The company has a market cap of $11.03 billion, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 0.86 and a beta of 0.61. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.96 and a quick ratio of 0.95.

First Horizon (NYSE:FHN) last announced its quarterly earnings data on Thursday, January 15th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.06. The firm had revenue of $888.00 million for the quarter, compared to analysts’ expectations of $863.87 million. First Horizon had a net margin of 19.67% and a return on equity of 11.21%. During the same period last year, the firm earned $0.43 earnings per share. On average, sell-side analysts anticipate that First Horizon Corporation will post 1.67 earnings per share for the current year.

First Horizon Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.0%. This is a boost from First Horizon’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, March 13th. First Horizon’s payout ratio is presently 31.91%.

About First Horizon

First Horizon Corporation, headquartered in Memphis, Tennessee, is a diversified financial services company providing an array of retail, commercial and wealth management solutions. As the largest bank-based financial services firm in Tennessee, First Horizon operates through a network of branches and digital platforms across the Southeastern United States, offering personal and business banking, mortgage origination and servicing, payment solutions and treasury management services.

Tracing its origins to the First National Bank of Memphis established in 1864, First Horizon has grown through strategic acquisitions and organic expansion to serve customers in Tennessee, Texas, North Carolina, South Carolina, Georgia and Florida.