First Horizon Corporation $FHN is Leeward Investments LLC MA’s 3rd Largest Position

Leeward Investments LLC MA lowered its position in shares of First Horizon Corporation (NYSE:FHN) by 3.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,775,903 shares of the financial services provider’s stock after selling 55,841 shares during the quarter. First Horizon comprises 2.0% of Leeward Investments LLC MA’s portfolio, making the stock its 3rd largest position. Leeward Investments LLC MA’s holdings in First Horizon were worth $37,649,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. HighTower Advisors LLC raised its stake in First Horizon by 1.0% during the first quarter. HighTower Advisors LLC now owns 60,510 shares of the financial services provider’s stock valued at $1,175,000 after buying an additional 575 shares in the last quarter. Inspire Investing LLC raised its stake in First Horizon by 3.5% during the second quarter. Inspire Investing LLC now owns 18,383 shares of the financial services provider’s stock valued at $390,000 after buying an additional 624 shares in the last quarter. Signaturefd LLC raised its stake in First Horizon by 4.8% during the first quarter. Signaturefd LLC now owns 13,878 shares of the financial services provider’s stock valued at $270,000 after buying an additional 635 shares in the last quarter. Greenleaf Trust raised its stake in First Horizon by 3.9% during the first quarter. Greenleaf Trust now owns 20,919 shares of the financial services provider’s stock valued at $406,000 after buying an additional 779 shares in the last quarter. Finally, Summit Asset Management LLC raised its stake in First Horizon by 4.5% during the first quarter. Summit Asset Management LLC now owns 18,455 shares of the financial services provider’s stock valued at $358,000 after buying an additional 788 shares in the last quarter. Institutional investors and hedge funds own 80.28% of the company’s stock.

First Horizon Stock Up 1.6%

FHN opened at $20.88 on Friday. First Horizon Corporation has a 12 month low of $15.19 and a 12 month high of $23.70. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.96 and a quick ratio of 0.95. The stock has a market cap of $10.60 billion, a P/E ratio of 12.65, a P/E/G ratio of 0.84 and a beta of 0.67. The stock’s 50 day moving average price is $22.27 and its 200 day moving average price is $20.90.

First Horizon (NYSE:FHN) last posted its earnings results on Wednesday, October 15th. The financial services provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.45 by $0.06. First Horizon had a return on equity of 11.03% and a net margin of 18.08%.The firm had revenue of $849.00 million for the quarter, compared to analysts’ expectations of $848.08 million. During the same period last year, the firm earned $0.42 EPS. The firm’s revenue was up 7.4% compared to the same quarter last year. As a group, research analysts predict that First Horizon Corporation will post 1.67 earnings per share for the current year.

First Horizon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Friday, September 12th. First Horizon’s dividend payout ratio (DPR) is presently 36.36%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on FHN. Truist Financial increased their price target on First Horizon from $23.00 to $24.00 and gave the stock a “hold” rating in a research report on Wednesday, September 24th. Jefferies Financial Group set a $25.00 price target on First Horizon and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Royal Bank Of Canada increased their price target on First Horizon from $24.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. Keefe, Bruyette & Woods dropped their price target on First Horizon from $24.00 to $23.00 and set a “market perform” rating on the stock in a research report on Thursday, October 16th. Finally, Raymond James Financial set a $23.00 price target on First Horizon in a research report on Wednesday, October 15th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $24.47.

Insider Transactions at First Horizon

In other First Horizon news, EVP David T. Popwell sold 100,000 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $22.50, for a total transaction of $2,250,000.00. Following the completion of the transaction, the executive vice president directly owned 462,581 shares of the company’s stock, valued at approximately $10,408,072.50. This trade represents a 17.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.87% of the company’s stock.

First Horizon Profile

First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial services. The company operates through Regional Banking and Specialty Banking segments. It offers general banking services for consumers, businesses, financial institutions, and governments.