Baader Bank Aktiengesellschaft Makes New Investment in First Horizon Corporation $FHN

Baader Bank Aktiengesellschaft purchased a new position in shares of First Horizon Corporation (NYSE:FHN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 23,640 shares of the financial services provider’s stock, valued at approximately $565,000.

Other hedge funds have also recently modified their holdings of the company. Goldman Sachs Group Inc. raised its position in shares of First Horizon by 102.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,709,434 shares of the financial services provider’s stock valued at $33,197,000 after purchasing an additional 865,109 shares during the last quarter. Geneos Wealth Management Inc. grew its position in First Horizon by 156.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,794 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 1,095 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in First Horizon by 88.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,189 shares of the financial services provider’s stock valued at $174,000 after purchasing an additional 3,835 shares in the last quarter. Federated Hermes Inc. increased its stake in First Horizon by 9.1% during the 2nd quarter. Federated Hermes Inc. now owns 54,125 shares of the financial services provider’s stock valued at $1,147,000 after purchasing an additional 4,507 shares in the last quarter. Finally, Cerity Partners LLC increased its stake in First Horizon by 20.8% during the 2nd quarter. Cerity Partners LLC now owns 152,878 shares of the financial services provider’s stock valued at $3,241,000 after purchasing an additional 26,323 shares in the last quarter. Institutional investors and hedge funds own 80.28% of the company’s stock.

First Horizon Trading Up 1.3%

FHN opened at $23.73 on Friday. The stock has a market capitalization of $11.26 billion, a PE ratio of 11.87, a P/E/G ratio of 0.92 and a beta of 0.62. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.96 and a current ratio of 0.96. First Horizon Corporation has a one year low of $19.03 and a one year high of $26.56. The business’s 50 day moving average price is $23.46 and its 200 day moving average price is $23.50.

First Horizon (NYSE:FHN) last issued its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. First Horizon had a return on equity of 11.65% and a net margin of 20.54%.The firm had revenue of $865.00 million during the quarter, compared to the consensus estimate of $869.49 million. During the same period last year, the company earned $0.42 EPS. The company’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, equities research analysts expect that First Horizon Corporation will post 2.16 EPS for the current year.

First Horizon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.9%. First Horizon’s payout ratio is presently 34.00%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on FHN shares. UBS Group cut First Horizon from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $29.00 to $25.00 in a research note on Tuesday, April 7th. National Bank Financial set a $27.00 price objective on shares of First Horizon in a research report on Friday, January 16th. Barclays decreased their target price on First Horizon from $30.00 to $29.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 7th. Citigroup lifted 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. Finally, Keefe, Bruyette & Woods upped their target price on shares of First Horizon from $25.00 to $26.00 and gave the stock a “market perform” rating in a report on Thursday, April 16th. Nine equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.45.

First Horizon Company Profile

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.