Capital Square LLC Invests $2.55 Million in First Horizon Corporation $FHN

Capital Square LLC acquired a new stake in First Horizon Corporation (NYSE:FHN) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 98,980 shares of the financial services provider’s stock, valued at approximately $2,548,000. First Horizon makes up approximately 1.1% of Capital Square LLC’s portfolio, making the stock its 24th largest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Kestra Investment Management LLC grew 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 purchasing an additional 1,458 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of First Horizon by 156.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,794 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 1,095 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its stake in shares of First Horizon by 1,348.2% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 2,013 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 1,874 shares in the last quarter. Basecamp Wealth Advisors LLC raised its stake in shares of First Horizon by 56.2% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 2,073 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 746 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of First Horizon in the 4th quarter valued at approximately $51,000. Institutional investors and hedge funds own 80.28% of the company’s stock.

First Horizon Trading Down 0.1%

FHN stock opened at $24.60 on Monday. First Horizon Corporation has a one year low of $19.80 and a one year high of $26.56. The stock has a market cap of $11.65 billion, a price-to-earnings ratio of 11.77, a price-to-earnings-growth ratio of 0.98 and a beta of 0.61. The company has a fifty day moving average price of $25.48 and a two-hundred day moving average price of $24.50. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.97 and a quick ratio of 0.96.

First Horizon (NYSE:FHN) last issued its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.02. The company had revenue of $887.00 million for the quarter, compared to analyst estimates of $878.42 million. First Horizon had a net margin of 21.12% and a return on equity of 12.06%. During the same period in the prior year, the firm earned $0.45 earnings per share. Equities analysts anticipate that First Horizon Corporation will post 2.15 EPS for the current year.

First Horizon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be paid a $0.17 dividend. The ex-dividend date is Friday, September 11th. This represents a $0.68 dividend on an annualized basis and a yield of 2.8%. First Horizon’s dividend payout ratio is 32.54%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Autonomous Res cut shares of First Horizon from a “strong-buy” rating to a “strong sell” rating in a research note on Wednesday, April 29th. National Bank Financial set a $29.00 price target on shares of First Horizon in a research report on Thursday, July 16th. Fundamental Research set a $28.50 price target on shares of First Horizon in a research note on Wednesday, July 1st. Weiss Ratings upgraded shares of First Horizon from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 8th. Finally, Wall Street Zen downgraded shares of First Horizon from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Nine investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $27.26.

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.