79,042 Shares in First Horizon Corporation $FHN Acquired by Fox Run Management L.L.C.

Fox Run Management L.L.C. purchased a new stake in First Horizon Corporation (NYSE:FHN) during the third quarter, HoldingsChannel reports. The firm purchased 79,042 shares of the financial services provider’s stock, valued at approximately $1,787,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Navigoe LLC bought a new position in shares of First Horizon in the third quarter valued at about $25,000. Atlantic Union Bankshares Corp acquired a new position in First Horizon in the 3rd quarter valued at about $25,000. Root Financial Partners LLC bought a new position in First Horizon in the 3rd quarter valued at about $31,000. Kestra Investment Management LLC lifted its position in First Horizon by 873.1% during the second quarter. Kestra Investment Management LLC now owns 1,625 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 1,458 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in First Horizon by 156.7% during the first quarter. Geneos Wealth Management Inc. now owns 1,794 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 1,095 shares during the last quarter. 80.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FHN has been the subject of several research reports. Raymond James Financial lifted their price target on First Horizon from $23.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, January 7th. National Bank Financial set a $27.00 target price on shares of First Horizon in a research report on Friday, January 16th. Citigroup raised their price target on shares of First Horizon from $28.00 to $28.50 and gave the stock a “buy” rating in a research report on Tuesday. DA Davidson increased their target price on shares of First Horizon from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, January 16th. Finally, UBS Group restated a “buy” rating and set a $29.00 price objective on shares of First Horizon in a research note on Wednesday, February 4th. One research 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 stock. According to MarketBeat.com, First Horizon presently has an average rating of “Moderate Buy” and an average target price of $26.66.

First Horizon Trading Up 0.1%

Shares of FHN stock opened at $24.12 on Wednesday. First Horizon Corporation has a fifty-two week low of $15.19 and a fifty-two week high of $26.56. The stock’s fifty day moving average price is $24.58 and its two-hundred day moving average price is $23.00. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.96. The company has a market cap of $11.87 billion, a PE ratio of 12.83, a P/E/G ratio of 0.91 and a beta of 0.63.

First Horizon (NYSE:FHN) last posted its earnings results on Thursday, January 15th. The financial services provider reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.06. The firm had revenue of $892.00 million during the quarter, compared to analysts’ expectations of $863.87 million. First Horizon had a net margin of 19.67% and a return on equity of 11.21%. During the same quarter in the prior year, the business earned $0.43 earnings per share. Equities analysts predict that First Horizon Corporation will post 1.67 EPS for the current fiscal year.

First Horizon Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be issued a $0.17 dividend. This is a boost from First Horizon’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, March 13th. This represents a $0.68 dividend on an annualized basis and a yield of 2.8%. First Horizon’s dividend payout ratio (DPR) is 31.91%.

Insider Transactions at First Horizon

In other First Horizon news, EVP Anthony J. Restel sold 5,719 shares of the company’s stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $24.35, for a total value of $139,257.65. Following the completion of the transaction, the executive vice president directly owned 619,132 shares in the company, valued at approximately $15,075,864.20. This represents a 0.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.04% of the stock is currently owned by company insiders.

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.