First Horizon Co. (NYSE:FHN) Stock Position Boosted by Highland Capital Management LLC

Highland Capital Management LLC raised its holdings in First Horizon Co. (NYSE:FHNGet Rating) by 2.8% in the second quarter, Holdings reports. The fund owned 98,504 shares of the financial services provider’s stock after acquiring an additional 2,690 shares during the period. Highland Capital Management LLC’s holdings in First Horizon were worth $2,153,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. CENTRAL TRUST Co lifted its stake in First Horizon by 116.0% during the first quarter. CENTRAL TRUST Co now owns 1,080 shares of the financial services provider’s stock valued at $25,000 after buying an additional 580 shares in the last quarter. Riverview Trust Co acquired a new position in First Horizon in the first quarter worth approximately $28,000. CWM LLC grew its holdings in First Horizon by 60.8% during the first quarter. CWM LLC now owns 1,233 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 466 shares during the last quarter. Koshinski Asset Management Inc. acquired a new position in First Horizon during the first quarter valued at approximately $40,000. Finally, AGF Investments LLC acquired a new position in First Horizon during the first quarter valued at approximately $52,000. 81.49% of the stock is owned by institutional investors and hedge funds.

First Horizon Stock Up 0.2 %

FHN opened at $23.54 on Friday. First Horizon Co. has a 1-year low of $15.00 and a 1-year high of $24.24. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $12.59 billion, a price-to-earnings ratio of 16.35, a P/E/G ratio of 2.94 and a beta of 1.04. The business has a 50 day moving average of $22.83 and a 200-day moving average of $22.65.

First Horizon (NYSE:FHNGet Rating) last posted its quarterly earnings data on Tuesday, July 19th. The financial services provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). First Horizon had a net margin of 26.78% and a return on equity of 12.27%. During the same period in the prior year, the firm earned $0.58 earnings per share. As a group, sell-side analysts anticipate that First Horizon Co. will post 1.56 earnings per share for the current year.

First Horizon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 9th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.55%. First Horizon’s dividend payout ratio (DPR) is presently 41.67%.

Analyst Ratings Changes

Several brokerages have commented on FHN. Truist Financial increased their price target on First Horizon to $25.00 in a report on Friday, June 3rd. upgraded First Horizon from a “sell” rating to a “hold” rating in a report on Wednesday. Nine research analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $22.83.

First Horizon Company Profile

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First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial services. The company operates through three segments: Regional Banking, Specialty Banking, and Corporate. It offers general banking services for consumers, businesses, financial institutions, and governments.

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Institutional Ownership by Quarter for First Horizon (NYSE:FHN)

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