Leeward Investments LLC MA Has $22.28 Million Position in First Horizon Corporation $FHN

Leeward Investments LLC MA lessened its holdings in shares of First Horizon Corporation (NYSE:FHN) by 41.5% during the 1st quarter, Holdings Channel.com reports. The fund owned 978,868 shares of the financial services provider’s stock after selling 693,374 shares during the period. First Horizon comprises approximately 1.1% of Leeward Investments LLC MA’s investment portfolio, making the stock its 22nd biggest position. Leeward Investments LLC MA’s holdings in First Horizon were worth $22,279,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Kestra Investment Management LLC increased its stake in shares of First Horizon by 873.1% during the 2nd quarter. Kestra Investment Management LLC now owns 1,625 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 1,458 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of First Horizon by 156.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,794 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 1,095 shares during the last quarter. Cary Street Partners Investment Advisory LLC lifted 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. Los Angeles Capital Management LLC bought a new stake in First Horizon in the fourth quarter worth $51,000. Finally, Triumph Capital Management bought a new stake in First Horizon in the third quarter worth $77,000. 80.28% of the stock is currently owned by institutional investors and hedge funds.

First Horizon Stock Performance

Shares of NYSE FHN opened at $25.00 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.15. The business’s 50 day moving average is $24.37 and its two-hundred day moving average is $24.05. The company has a market cap of $11.87 billion, a P/E ratio of 12.50, a P/E/G ratio of 0.97 and a beta of 0.60. First Horizon Corporation has a 12 month low of $19.80 and a 12 month high of $26.56.

First Horizon (NYSE:FHN) last posted 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 company had revenue of $865.00 million during the quarter, compared to analysts’ expectations of $869.49 million. First Horizon had a return on equity of 11.65% and a net margin of 20.54%.First Horizon’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.42 earnings per share. On average, equities analysts expect that First Horizon Corporation will post 2.16 EPS for the current year.

First Horizon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $0.68 dividend on an annualized basis and a yield of 2.7%. First Horizon’s dividend payout ratio is 34.00%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on FHN shares. Wall Street Zen raised First Horizon from a “sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. DA Davidson restated a “neutral” rating and issued a $26.00 target price on shares of First Horizon in a report on Thursday, April 16th. Autonomous Res lowered First Horizon from a “strong-buy” rating to a “strong sell” rating in a report on Wednesday, April 29th. Weiss Ratings raised First Horizon from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 8th. Finally, Keefe, Bruyette & Woods increased their price target on First Horizon from $25.00 to $26.00 and gave the company a “market perform” rating in a report on Thursday, April 16th. Nine analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target 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.