Jupiter Asset Management Ltd. Acquires 1,478,299 Shares of First Horizon Corporation $FHN

Jupiter Asset Management Ltd. boosted its holdings in shares of First Horizon Corporation (NYSE:FHN) by 68.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 3,653,460 shares of the financial services provider’s stock after buying an additional 1,478,299 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in First Horizon were worth $87,318,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in FHN. Atlantic Union Bankshares Corp acquired a new stake in shares of First Horizon during the third quarter worth $25,000. Kestra Investment Management LLC lifted its stake in First Horizon by 873.1% in the second quarter. Kestra Investment Management LLC now owns 1,625 shares of the financial services provider’s stock valued at $34,000 after buying an additional 1,458 shares during the period. Geneos Wealth Management Inc. lifted its stake in First Horizon by 156.7% in the first quarter. Geneos Wealth Management Inc. now owns 1,794 shares of the financial services provider’s stock valued at $35,000 after buying an additional 1,095 shares during the period. TD Waterhouse Canada Inc. lifted its stake in First Horizon by 122.3% in the third quarter. TD Waterhouse Canada Inc. now owns 1,636 shares of the financial services provider’s stock valued at $37,000 after buying an additional 900 shares during the period. Finally, United Community Bank lifted its stake in First Horizon by 1,463.6% in the third quarter. United Community Bank now owns 2,017 shares of the financial services provider’s stock valued at $46,000 after buying an additional 1,888 shares during the period. Institutional investors and hedge funds own 80.28% of the company’s stock.

First Horizon Stock Up 0.1%

Shares of First Horizon stock opened at $24.24 on Friday. First Horizon Corporation has a 1 year low of $19.03 and a 1 year high of $26.56. The business has a 50-day moving average of $23.76 and a two-hundred day moving average of $23.70. The company has a market capitalization of $11.50 billion, a P/E ratio of 12.12, a price-to-earnings-growth ratio of 0.95 and a beta of 0.62. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.96 and a quick ratio of 0.96.

First Horizon (NYSE:FHN) last announced its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.04. First Horizon had a return on equity of 11.65% and a net margin of 20.54%.The company had revenue of $865.00 million during the quarter, compared to the consensus estimate of $869.49 million. During the same period in the prior year, the company earned $0.42 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, 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. Investors of record on Friday, June 12th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Friday, June 12th. First Horizon’s dividend payout ratio (DPR) is presently 34.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. DA Davidson reissued a “neutral” rating and issued a $26.00 target price on shares of First Horizon in a research note on Thursday, April 16th. Weiss Ratings raised First Horizon from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, April 16th. JPMorgan Chase & Co. cut their target price on First Horizon from $28.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 1st. UBS Group lowered First Horizon from a “buy” rating to a “neutral” rating and cut their target price for the company from $29.00 to $25.00 in a research note on Tuesday, April 7th. Finally, 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 note on Tuesday, April 7th. Nine investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, First Horizon currently has an average rating of “Hold” and an average target price of $26.45.

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.