Fisher Asset Management LLC Acquires 189,145 Shares of First Horizon Corporation $FHN

Fisher Asset Management LLC lifted its holdings in First Horizon Corporation (NYSE:FHN) by 21.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,087,499 shares of the financial services provider’s stock after acquiring an additional 189,145 shares during the period. Fisher Asset Management LLC owned 0.21% of First Horizon worth $24,588,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Atlantic Union Bankshares Corp purchased a new position in First Horizon in the 3rd quarter worth approximately $25,000. Navigoe LLC bought a new stake in shares of First Horizon during the third quarter valued at approximately $25,000. Root Financial Partners LLC purchased a new position in shares of First Horizon in the third quarter worth $31,000. Kestra Investment Management LLC boosted its position in shares of 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, TD Waterhouse Canada Inc. grew its stake in First Horizon by 122.3% during the third quarter. TD Waterhouse Canada Inc. now owns 1,636 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 80.28% of the company’s stock.

First Horizon Trading Down 2.9%

NYSE FHN opened at $23.45 on Wednesday. The stock has a market cap of $11.33 billion, a PE ratio of 12.47, a PEG ratio of 0.91 and a beta of 0.61. First Horizon Corporation has a 12 month low of $15.19 and a 12 month high of $26.56. The company’s 50-day moving average price is $24.56 and its 200-day moving average price is $23.08. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15.

First Horizon (NYSE:FHN) last released its quarterly earnings data on Thursday, January 15th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.06. The company had revenue of $888.00 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 period in the previous year, the company earned $0.43 EPS. Equities research analysts forecast that First Horizon Corporation will post 1.67 earnings per share for the current year.

First Horizon Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.9%. This is an increase from First Horizon’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, March 13th. First Horizon’s payout ratio is currently 31.91%.

Analyst Upgrades and Downgrades

Several brokerages have commented on FHN. National Bank Financial set a $27.00 price target on shares of First Horizon in a research note on Friday, January 16th. The Goldman Sachs Group set a $27.00 target price on First Horizon and gave the stock a “neutral” rating in a research report on Tuesday, January 6th. Barclays increased their price target on First Horizon from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Truist Financial set a $27.00 price objective on First Horizon in a research note on Friday, January 9th. Finally, Wall Street Zen upgraded First Horizon from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $26.66.

Insider Buying and Selling

In other First Horizon news, EVP Anthony J. Restel sold 5,719 shares of First Horizon stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $24.35, for a total transaction of $139,257.65. Following the completion of the sale, the executive vice president directly owned 619,132 shares of the company’s stock, valued at $15,075,864.20. The trade was a 0.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.04% of the stock is owned by insiders.

First Horizon 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.