First Horizon Corporation $FHN Shares Acquired by Vise Technologies Inc.

Vise Technologies Inc. lifted its holdings in shares of First Horizon Corporation (NYSE:FHN) by 506.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 117,328 shares of the financial services provider’s stock after purchasing an additional 97,976 shares during the quarter. Vise Technologies Inc.’s holdings in First Horizon were worth $2,804,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in FHN. Norges Bank acquired a new stake in shares of First Horizon during the fourth quarter worth $153,942,000. Artemis Investment Management LLP acquired a new stake in shares of First Horizon during the fourth quarter worth $90,319,000. Jupiter Asset Management Ltd. acquired a new stake in shares of First Horizon during the third quarter worth $49,180,000. Barclays PLC boosted its holdings in shares of First Horizon by 370.5% during the third quarter. Barclays PLC now owns 2,216,410 shares of the financial services provider’s stock worth $50,113,000 after purchasing an additional 1,745,296 shares during the last quarter. Finally, Qube Research & Technologies Ltd boosted its holdings in shares of First Horizon by 419.7% during the third quarter. Qube Research & Technologies Ltd now owns 1,989,925 shares of the financial services provider’s stock worth $44,992,000 after purchasing an additional 1,607,028 shares during the last quarter. Institutional investors and hedge funds own 80.28% of the company’s stock.

First Horizon Stock Performance

NYSE FHN opened at $24.19 on Friday. The firm has a market capitalization of $11.48 billion, a P/E ratio of 12.09, a P/E/G ratio of 0.94 and a beta of 0.60. First Horizon Corporation has a 1-year low of $19.03 and a 1-year high of $26.56. 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’s 50-day simple moving average is $23.98 and its 200-day simple moving average is $23.79.

First Horizon (NYSE:FHN) last released its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.04. The business had revenue of $865.00 million for the quarter, compared to analyst estimates of $869.49 million. First Horizon had a return on equity of 11.65% and a net margin of 20.54%.The company’s revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 EPS. Equities 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. Shareholders of record on Friday, June 12th will be given a $0.17 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $0.68 annualized dividend and a yield of 2.8%. First Horizon’s dividend payout ratio (DPR) is 34.00%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FHN. JPMorgan Chase & Co. decreased their price objective on First Horizon from $28.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, April 1st. Wall Street Zen upgraded First Horizon from a “sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Barclays cut 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. UBS Group cut First Horizon from a “buy” rating to a “neutral” rating and reduced their target price for the company from $29.00 to $25.00 in a report on Tuesday, April 7th. Finally, DA Davidson reiterated a “neutral” rating and issued a $26.00 target price on shares of First Horizon in a report on Thursday, April 16th. Nine research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $26.45.

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.