Intech Investment Management LLC Has $4.48 Million Stake in First Horizon Corporation $FHN

Intech Investment Management LLC lowered its position in First Horizon Corporation (NYSE:FHN) by 27.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 187,388 shares of the financial services provider’s stock after selling 72,343 shares during the period. Intech Investment Management LLC’s holdings in First Horizon were worth $4,479,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FHN. Atlantic Union Bankshares Corp acquired a new position in shares of First Horizon in the 3rd quarter worth approximately $25,000. Kestra Investment Management LLC lifted its position in shares of First Horizon by 873.1% during the 2nd quarter. Kestra Investment Management LLC now owns 1,625 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 1,458 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of First Horizon by 156.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,794 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 1,095 shares during the period. TD Waterhouse Canada Inc. lifted its position in shares of First Horizon by 122.3% during the 3rd 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 during the period. Finally, United Community Bank lifted its position in shares of First Horizon by 1,463.6% during the 3rd quarter. United Community Bank now owns 2,017 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 1,888 shares during the period. Institutional investors and hedge funds own 80.28% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on FHN. Autonomous Res downgraded shares of First Horizon from a “strong-buy” rating to a “strong sell” rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. dropped their target price on shares of First Horizon from $28.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 1st. Zacks Research downgraded shares of First Horizon from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 20th. Keefe, Bruyette & Woods boosted their target price on shares of First Horizon from $25.00 to $26.00 and gave the company a “market perform” rating in a research report on Thursday, April 16th. Finally, Barclays dropped their target price on shares of First Horizon from $30.00 to $29.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 7th. Nine equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, First Horizon presently has a consensus rating of “Hold” and a consensus price target of $26.45.

First Horizon Stock Performance

Shares of FHN stock opened at $24.24 on Monday. The firm has a market capitalization of $11.50 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 0.95 and a beta of 0.60. The firm has a fifty day simple moving average of $23.81 and a two-hundred day simple moving average of $23.72. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.15. First Horizon Corporation has a 12 month low of $19.03 and a 12 month high of $26.56.

First Horizon (NYSE:FHN) last announced its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. The business had revenue of $865.00 million during the quarter, compared to analyst estimates of $869.49 million. First Horizon had a net margin of 20.54% and a return on equity of 11.65%. First Horizon’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.42 EPS. Analysts forecast that First Horizon Corporation will post 2.16 EPS for the current fiscal year.

First Horizon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Friday, June 12th. First Horizon’s payout ratio is 34.00%.

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.