63,013 Shares in First Horizon Corporation $FHN Bought by Focus Partners Advisor Solutions LLC

Focus Partners Advisor Solutions LLC bought a new stake in shares of First Horizon Corporation (NYSE:FHN) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 63,013 shares of the financial services provider’s stock, valued at approximately $1,616,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FHN. Bessemer Group Inc. increased its holdings in shares of First Horizon by 0.3% during the first quarter. Bessemer Group Inc. now owns 138,920 shares of the financial services provider’s stock valued at $3,162,000 after acquiring an additional 425 shares in the last quarter. Thoroughbred Financial Services LLC grew its position in First Horizon by 3.4% during the 4th quarter. Thoroughbred Financial Services LLC now owns 14,055 shares of the financial services provider’s stock worth $335,000 after purchasing an additional 457 shares during the last quarter. Illinois Municipal Retirement Fund increased its stake in First Horizon by 0.7% during the 4th quarter. Illinois Municipal Retirement Fund now owns 68,661 shares of the financial services provider’s stock valued at $1,641,000 after purchasing an additional 489 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of First Horizon by 1.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 40,296 shares of the financial services provider’s stock worth $963,000 after buying an additional 507 shares during the last quarter. Finally, Sanctuary Advisors LLC raised its holdings in shares of First Horizon by 3.5% in the fourth quarter. Sanctuary Advisors LLC now owns 15,803 shares of the financial services provider’s stock worth $378,000 after buying an additional 537 shares during the last quarter. 80.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on FHN. Truist Financial boosted their price objective on shares of First Horizon from $26.00 to $27.00 and gave the company a “hold” rating in a report on Friday, July 10th. Weiss Ratings upgraded First Horizon from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 8th. Wall Street Zen cut First Horizon from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Raymond James Financial boosted their price target on First Horizon from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Finally, UBS Group reissued a “buy” rating on shares of First Horizon in a report on Thursday, July 16th. Nine investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, First Horizon presently has a consensus rating of “Hold” and an average price target of $27.26.

First Horizon Trading Up 0.7%

NYSE FHN opened at $26.20 on Friday. First Horizon Corporation has a 1 year low of $19.80 and a 1 year high of $26.56. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.97 and a quick ratio of 0.96. The company has a market capitalization of $12.41 billion, a PE ratio of 12.53, a P/E/G ratio of 1.04 and a beta of 0.61. The company has a fifty day moving average of $25.44 and a 200 day moving average of $24.47.

First Horizon (NYSE:FHN) last announced its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.02. The company had revenue of $887.00 million for the quarter, compared to the consensus estimate 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 last year, the firm earned $0.45 EPS. Research analysts forecast that First Horizon Corporation will post 2.15 earnings per share for the current year.

First Horizon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Friday, September 11th. First Horizon’s dividend payout ratio (DPR) is 32.54%.

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.