Highland Capital Management LLC Increases Position in First Horizon Co. (NYSE:FHN)

Highland Capital Management LLC boosted its holdings in shares of First Horizon Co. (NYSE:FHNGet Rating) by 2.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,504 shares of the financial services provider’s stock after acquiring an additional 2,690 shares during the period. Highland Capital Management LLC’s holdings in First Horizon were worth $2,153,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Segantii Capital Management Ltd purchased a new stake in shares of First Horizon in the 1st quarter valued at approximately $253,190,000. Bank of New York Mellon Corp grew its stake in shares of First Horizon by 126.3% in the 1st quarter. Bank of New York Mellon Corp now owns 14,759,941 shares of the financial services provider’s stock valued at $346,710,000 after buying an additional 8,237,557 shares during the period. Versor Investments LP grew its stake in shares of First Horizon by 26,171.6% in the 1st quarter. Versor Investments LP now owns 4,361,084 shares of the financial services provider’s stock valued at $102,442,000 after buying an additional 4,344,484 shares during the period. Alpine Associates Management Inc. purchased a new stake in shares of First Horizon in the 1st quarter valued at approximately $63,489,000. Finally, Bank of Montreal Can grew its stake in shares of First Horizon by 2,866.5% in the 1st quarter. Bank of Montreal Can now owns 2,756,512 shares of the financial services provider’s stock valued at $64,943,000 after buying an additional 2,663,590 shares during the period. Hedge funds and other institutional investors own 81.49% of the company’s stock.

First Horizon Price Performance

First Horizon stock opened at $23.54 on Friday. The firm has a market cap of $12.59 billion, a PE ratio of 16.35, a price-to-earnings-growth ratio of 2.94 and a beta of 1.04. First Horizon Co. has a 52-week low of $15.00 and a 52-week high of $24.24. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.21. The company’s 50 day moving average is $22.83 and its two-hundred day moving average is $22.65.

First Horizon (NYSE:FHNGet Rating) last released its earnings results on Tuesday, July 19th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). First Horizon had a return on equity of 12.27% and a net margin of 26.78%. During the same quarter last year, the business earned $0.58 EPS. On average, research analysts expect that First Horizon Co. will post 1.56 EPS for the current fiscal year.

First Horizon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 9th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend is Thursday, September 8th. First Horizon’s dividend payout ratio is presently 41.67%.

Analysts Set New Price Targets

FHN has been the topic of several recent analyst reports. StockNews.com upgraded shares of First Horizon from a “sell” rating to a “hold” rating in a report on Wednesday. Truist Financial upped their price objective on shares of First Horizon to $25.00 in a report on Friday, June 3rd. Nine equities research analysts have rated the stock with a hold rating, According to MarketBeat, First Horizon presently has a consensus rating of “Hold” and a consensus price target of $22.83.

First Horizon Profile

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

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Institutional Ownership by Quarter for First Horizon (NYSE:FHN)

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