Callan Family Office LLC Invests $1.58 Million in First Horizon Corporation $FHN

Callan Family Office LLC bought a new position in shares of First Horizon Corporation (NYSE:FHN) in the 2nd quarter, Holdings Channel.com reports. The firm bought 61,466 shares of the financial services provider’s stock, valued at approximately $1,576,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. William Blair Investment Management LLC lifted its holdings in shares of First Horizon by 2.2% in the fourth quarter. William Blair Investment Management LLC now owns 5,336,021 shares of the financial services provider’s stock worth $127,531,000 after buying an additional 116,191 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of First Horizon by 158.0% during the first quarter. Renaissance Technologies LLC now owns 540,211 shares of the financial services provider’s stock worth $12,295,000 after acquiring an additional 330,800 shares during the last quarter. Focus Partners Advisor Solutions LLC purchased a new position in First Horizon during the second quarter valued at $1,616,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new position in First Horizon during the second quarter valued at $10,061,000. Finally, Qsemble Capital Management LP increased its holdings in First Horizon by 303.3% in the 4th quarter. Qsemble Capital Management LP now owns 451,446 shares of the financial services provider’s stock valued at $10,790,000 after acquiring an additional 339,508 shares during the last quarter. Institutional investors own 80.28% of the company’s stock.

First Horizon Trading Down 0.1%

Shares of FHN opened at $24.60 on Monday. The stock has a market capitalization of $11.65 billion, a PE ratio of 11.77, a P/E/G ratio of 0.98 and a beta of 0.61. The company’s fifty day moving average is $25.48 and its 200 day moving average is $24.50. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.96 and a current ratio of 0.97. First Horizon Corporation has a fifty-two week low of $19.80 and a fifty-two week high of $26.56.

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

First Horizon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Friday, September 11th. First Horizon’s dividend payout ratio is currently 32.54%.

Analyst Ratings Changes

Several brokerages have commented on FHN. Fundamental Research set a $28.50 price target on shares of First Horizon in a research note on Wednesday, July 1st. Truist Financial raised their price objective on First Horizon from $26.00 to $27.00 and gave the company a “hold” rating in a research report on Friday, July 10th. JPMorgan Chase & Co. reduced their target price on First Horizon from $28.50 to $27.00 and set a “neutral” rating on the stock in a report on Thursday, July 16th. Evercore set a $27.00 target price on First Horizon in a research report on Monday, July 6th. Finally, Raymond James Financial increased their price target on First Horizon from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Nine investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, First Horizon 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.