Eventide Asset Management LLC Sells 27,193 Shares of First Horizon Corporation $FHN

Eventide Asset Management LLC lessened its stake in shares of First Horizon Corporation (NYSE:FHN) by 75.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,023 shares of the financial services provider’s stock after selling 27,193 shares during the quarter. Eventide Asset Management LLC’s holdings in First Horizon were worth $216,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in FHN. Kestra Investment Management LLC raised its holdings in shares of First Horizon by 873.1% in the 2nd quarter. Kestra Investment Management LLC now owns 1,625 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 1,458 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of First Horizon by 156.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,794 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 1,095 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its holdings in shares of First Horizon by 1,348.2% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 2,013 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 1,874 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of First Horizon in the 4th quarter worth about $51,000. Finally, Triumph Capital Management acquired a new stake in shares of First Horizon in the 3rd quarter worth about $77,000. Institutional investors and hedge funds own 80.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of First Horizon from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Monday, March 30th. Weiss Ratings upgraded shares of First Horizon from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 8th. UBS Group lowered shares of First Horizon from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $29.00 to $25.00 in a report on Tuesday, April 7th. 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. Finally, Autonomous Res lowered shares of First Horizon from a “strong-buy” rating to a “strong sell” rating in a report on Wednesday, April 29th. Nine analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $26.45.

First Horizon Trading Down 1.6%

NYSE:FHN opened at $24.74 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $11.74 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60. First Horizon Corporation has a 52 week low of $19.10 and a 52 week high of $26.56. The firm has a 50-day moving average price of $24.24 and a two-hundred day moving average price of $23.95.

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

First Horizon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, June 12th. First Horizon’s dividend 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.