Caxton Associates LLP Purchases 39,568 Shares of First Horizon Corporation $FHN

Caxton Associates LLP boosted its position in First Horizon Corporation (NYSE:FHN) by 108.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,952 shares of the financial services provider’s stock after purchasing an additional 39,568 shares during the quarter. Caxton Associates LLP’s holdings in First Horizon were worth $1,729,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of FHN. Kestra Investment Management LLC increased its holdings in shares of First Horizon by 873.1% in the second quarter. Kestra Investment Management LLC now owns 1,625 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 1,458 shares during the period. Geneos Wealth Management Inc. raised its position in shares of First Horizon by 156.7% in the first quarter. Geneos Wealth Management Inc. now owns 1,794 shares of the financial services provider’s stock worth $35,000 after buying an additional 1,095 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its position in shares of First Horizon by 1,348.2% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 2,013 shares of the financial services provider’s stock worth $48,000 after buying an additional 1,874 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in First Horizon during the fourth quarter valued at $51,000. Finally, Cedar Mountain Advisors LLC bought a new stake in First Horizon during the first quarter valued at $77,000. 80.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Evercore set a $27.00 target price on First Horizon in a research note on Monday, July 6th. Barclays dropped their price target on First Horizon from $30.00 to $29.00 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. DA Davidson reissued a “neutral” rating and set a $26.00 price objective on shares of First Horizon in a report on Thursday, April 16th. Wall Street Zen cut shares of First Horizon from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of First Horizon from $25.00 to $26.00 and gave the stock a “market perform” rating in a research report on Thursday, April 16th. Nine research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, First Horizon has a consensus rating of “Hold” and an average price target of $27.16.

First Horizon Stock Down 0.1%

Shares of NYSE:FHN opened at $25.51 on Friday. The firm has a market capitalization of $12.11 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of 1.01 and a beta of 0.60. 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 52-week low of $19.80 and a 52-week high of $26.56. The firm has a fifty day moving average of $24.94 and a 200 day moving average of $24.32.

First Horizon (NYSE:FHN) last released its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. First Horizon had a return on equity of 12.06% and a net margin of 21.12%.The business had revenue of $890.00 million for the quarter, compared to the consensus estimate of $878.42 million. During the same quarter last year, the business posted $0.45 earnings per share. As a group, research analysts anticipate that First Horizon Corporation will post 2.15 EPS for the current fiscal year.

First Horizon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th were given a dividend of $0.17 per share. The ex-dividend date was Friday, June 12th. This represents a $0.68 annualized dividend and a dividend yield of 2.7%. First Horizon’s dividend payout ratio is 32.54%.

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.