Entropy Technologies LP Has $1.89 Million Stake in First Horizon Corporation $FHN

Entropy Technologies LP raised its stake in First Horizon Corporation (NYSE:FHN) by 98.7% in the first quarter, Holdings Channel reports. The fund owned 82,842 shares of the financial services provider’s stock after purchasing an additional 41,152 shares during the quarter. Entropy Technologies LP’s holdings in First Horizon were worth $1,885,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Bessemer Group Inc. boosted its stake in First Horizon by 0.3% during the first quarter. Bessemer Group Inc. now owns 138,920 shares of the financial services provider’s stock worth $3,162,000 after acquiring an additional 425 shares in the last quarter. Thoroughbred Financial Services LLC boosted its position in shares of First Horizon by 3.4% during the fourth quarter. Thoroughbred Financial Services LLC now owns 14,055 shares of the financial services provider’s stock valued at $335,000 after buying an additional 457 shares during the last quarter. Illinois Municipal Retirement Fund raised its position in First Horizon by 0.7% in the 4th quarter. Illinois Municipal Retirement Fund now owns 68,661 shares of the financial services provider’s stock valued at $1,641,000 after buying an additional 489 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in First Horizon by 1.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 40,296 shares of the financial services provider’s stock worth $963,000 after purchasing an additional 507 shares during the last quarter. Finally, Aaron Wealth Advisors LLC grew its position in First Horizon by 5.4% in the 4th quarter. Aaron Wealth Advisors LLC now owns 9,905 shares of the financial services provider’s stock worth $237,000 after purchasing an additional 511 shares in the last quarter. Institutional investors and hedge funds own 80.28% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on FHN. Keefe, Bruyette & Woods lifted their target price 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. Barclays reduced their price target on shares of First Horizon from $30.00 to $29.00 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. National Bank Financial set a $29.00 price target on shares of First Horizon in a research note on Thursday, July 16th. Evercore set a $27.00 target price on First Horizon in a research report on Monday, July 6th. Finally, Autonomous Res lowered First Horizon from a “strong-buy” rating to a “strong sell” rating in a research note on Wednesday, April 29th. Nine analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $27.16.

First Horizon Trading Down 0.1%

Shares of FHN stock opened at $25.51 on Monday. The stock has a market capitalization of $12.11 billion, a price-to-earnings ratio of 12.20, a PEG ratio of 1.01 and a beta of 0.60. First Horizon Corporation has a 1 year low of $19.80 and a 1 year high of $26.56. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.97 and a quick ratio of 0.96. The company’s fifty day simple moving average is $24.94 and its two-hundred day simple moving average is $24.32.

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

First Horizon Dividend Announcement

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

First Horizon Company 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.