Berkeley Capital Partners LLC Takes Position in First Horizon Corporation $FHN

Berkeley Capital Partners LLC acquired a new stake in First Horizon Corporation (NYSE:FHN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 45,044 shares of the financial services provider’s stock, valued at approximately $1,077,000.

Other hedge funds have also modified their holdings of the company. Atlantic Union Bankshares Corp acquired a new stake in shares of First Horizon in the third quarter valued at $25,000. Root Financial Partners LLC acquired a new stake in shares of First Horizon in the third quarter valued at $31,000. Kestra Investment Management LLC raised its stake in shares of 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 acquiring an additional 1,458 shares in the last quarter. TD Waterhouse Canada Inc. increased its holdings 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 last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in First Horizon by 57.3% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,743 shares of the financial services provider’s stock valued at $39,000 after buying an additional 635 shares during the last quarter. 80.28% of the stock is currently owned by institutional investors and hedge funds.

First Horizon Stock Performance

Shares of FHN stock opened at $23.40 on Thursday. The stock’s 50-day moving average is $23.45 and its two-hundred day moving average is $23.48. The firm has a market cap of $11.11 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 0.93 and a beta of 0.62. 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 quick ratio of 0.96 and a current ratio of 0.96.

First Horizon (NYSE:FHN) last issued its quarterly earnings data 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. The company 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 business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.42 earnings per share. Analysts predict that First Horizon Corporation will post 2.16 earnings per share for the current year.

First Horizon Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Friday, June 12th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.9%. First Horizon’s dividend payout ratio (DPR) is currently 34.00%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on FHN shares. DA Davidson reissued a “neutral” rating and issued a $26.00 target price on shares of First Horizon in a report on Thursday, April 16th. Stephens increased their target price on First Horizon from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, January 16th. Weiss Ratings raised First Horizon from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, April 16th. Zacks Research lowered First Horizon from a “strong-buy” rating to a “hold” rating in a report on Friday, March 20th. Finally, Citigroup increased their target price on First Horizon from $28.00 to $28.50 and gave the company a “buy” rating in a report on Tuesday, February 24th. Nine research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus 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.