Fisher Asset Management LLC Boosts Stock Position in First Horizon Corporation $FHN

Fisher Asset Management LLC boosted its holdings in shares of First Horizon Corporation (NYSE:FHN) by 24.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,357,989 shares of the financial services provider’s stock after purchasing an additional 270,490 shares during the quarter. Fisher Asset Management LLC’s holdings in First Horizon were worth $32,456,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Aaron Wealth Advisors LLC increased its holdings in First Horizon by 5.4% during the 4th quarter. Aaron Wealth Advisors LLC now owns 9,905 shares of the financial services provider’s stock worth $237,000 after purchasing an additional 511 shares during the last quarter. Sanctuary Advisors LLC increased its holdings in First Horizon by 3.5% during the 4th quarter. Sanctuary Advisors LLC now owns 15,803 shares of the financial services provider’s stock worth $378,000 after purchasing an additional 537 shares during the last quarter. AMG National Trust Bank increased its holdings in First Horizon by 0.6% during the 3rd quarter. AMG National Trust Bank now owns 102,344 shares of the financial services provider’s stock worth $2,314,000 after purchasing an additional 575 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in First Horizon by 57.3% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,743 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 635 shares during the last quarter. Finally, Krilogy Financial LLC increased its holdings in First Horizon by 3.9% during the 4th quarter. Krilogy Financial LLC now owns 17,499 shares of the financial services provider’s stock worth $424,000 after purchasing an additional 664 shares during the last quarter. 80.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on FHN shares. Zacks Research lowered First Horizon from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 20th. DA Davidson reiterated a “neutral” rating and issued a $26.00 target price on shares of First Horizon in a research report on Thursday, April 16th. Citigroup lifted their target price on First Horizon from $28.00 to $28.50 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. Keefe, Bruyette & Woods lifted their target price on First Horizon from $25.00 to $26.00 and gave the stock a “market perform” rating in a research report on Thursday, April 16th. Finally, UBS Group lowered First Horizon from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $29.00 to $25.00 in a research report on Tuesday, April 7th. Nine research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.45.

First Horizon Trading Up 0.6%

NYSE:FHN opened at $24.37 on Wednesday. First Horizon Corporation has a 12-month low of $19.03 and a 12-month high of $26.56. The firm has a market capitalization of $11.57 billion, a P/E ratio of 12.19, a P/E/G ratio of 0.95 and a beta of 0.62. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.96 and a quick ratio of 0.96. The business has a 50 day simple moving average of $23.66 and a 200 day simple moving average of $23.66.

First Horizon (NYSE:FHN) last released its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, beating 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 business had revenue of $865.00 million during the quarter, compared to analyst estimates of $869.49 million. During the same quarter in the previous year, the firm posted $0.42 EPS. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. Equities research analysts predict that First Horizon Corporation will post 2.16 EPS for the current year.

First Horizon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, June 12th. This represents a $0.68 dividend on an annualized basis and a yield of 2.8%. First Horizon’s payout ratio is currently 34.00%.

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.