United Capital Financial Advisors LLC Makes New Investment in First Horizon Corporation $FHN

United Capital Financial Advisors LLC acquired a new stake in First Horizon Corporation (NYSE:FHN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 23,078 shares of the financial services provider’s stock, valued at approximately $592,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Kestra Investment Management LLC increased its position in 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 valued at $34,000 after acquiring an additional 1,458 shares during the period. Geneos Wealth Management Inc. lifted 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 acquiring an additional 1,095 shares during the period. Ancora Advisors LLC purchased a new position in shares of First Horizon in the 2nd quarter valued at approximately $42,000. Basecamp Wealth Advisors LLC grew its stake in shares of First Horizon by 56.2% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 2,073 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 746 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC grew its stake 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 valued at $48,000 after purchasing an additional 1,874 shares during the last quarter. 80.28% of the stock is owned by hedge funds and other institutional investors.

First Horizon Stock Performance

FHN opened at $24.35 on Tuesday. First Horizon Corporation has a 1-year low of $19.80 and a 1-year high of $26.56. The stock has a market cap of $11.54 billion, a P/E ratio of 11.65, a P/E/G ratio of 0.98 and a beta of 0.61. The stock’s 50 day simple moving average is $25.45 and its 200 day simple moving average is $24.44. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.97 and a quick ratio of 0.96.

First Horizon (NYSE:FHN) last issued its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.02. The firm had revenue of $887.00 million during the quarter, compared to analysts’ expectations of $878.42 million. First Horizon had a return on equity of 12.06% and a net margin of 21.12%.During the same period in the previous year, the firm posted $0.45 earnings per share. As a group, equities analysts anticipate that First Horizon Corporation will post 2.15 EPS for the current fiscal year.

First Horizon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be given a $0.17 dividend. The ex-dividend date is Friday, September 11th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.8%. First Horizon’s dividend payout ratio (DPR) is currently 32.54%.

Insider Activity

In other news, EVP Elizabeth A. Ardoin sold 18,313 shares of First Horizon stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $24.85, for a total transaction of $455,078.05. Following the completion of the transaction, the executive vice president owned 340,368 shares of the company’s stock, valued at $8,458,144.80. The trade was a 5.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.91% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on FHN shares. Weiss Ratings upgraded First Horizon from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 8th. Evercore set a $27.00 price objective on shares of First Horizon in a research note on Monday, July 6th. Fundamental Research set a $28.50 price objective on shares of First Horizon in a research report on Wednesday, July 1st. Wall Street Zen cut shares of First Horizon from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Finally, Raymond James Financial lifted their target price on shares of First Horizon from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Nine analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, First Horizon presently has a consensus rating of “Hold” and an average price target of $27.26.

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.