Eventide Asset Management LLC Has $216,000 Holdings in First Horizon Corporation $FHN

Eventide Asset Management LLC cut its stake in shares of First Horizon Corporation (NYSE:FHN) by 75.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,023 shares of the financial services provider’s stock after selling 27,193 shares during the period. Eventide Asset Management LLC’s holdings in First Horizon were worth $216,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of FHN. Goldman Sachs Group Inc. increased its holdings in shares of First Horizon by 102.5% during the first quarter. Goldman Sachs Group Inc. now owns 1,709,434 shares of the financial services provider’s stock worth $33,197,000 after buying an additional 865,109 shares in the last quarter. Geneos Wealth Management Inc. grew its stake 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 purchasing an additional 1,095 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of First Horizon by 88.1% in the second quarter. EverSource Wealth Advisors LLC now owns 8,189 shares of the financial services provider’s stock worth $174,000 after purchasing an additional 3,835 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of First Horizon by 9.1% in the second quarter. Federated Hermes Inc. now owns 54,125 shares of the financial services provider’s stock worth $1,147,000 after purchasing an additional 4,507 shares during the last quarter. Finally, Cerity Partners LLC grew its stake in shares of First Horizon by 20.8% in the second quarter. Cerity Partners LLC now owns 152,878 shares of the financial services provider’s stock worth $3,241,000 after purchasing an additional 26,323 shares during the last quarter. 80.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FHN has been the topic of several analyst reports. Wall Street Zen raised shares of First Horizon from a “sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Barclays reduced their price objective on shares of First Horizon from $30.00 to $29.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 7th. Wells Fargo & Company boosted their price objective on shares of First Horizon from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Monday, March 30th. UBS Group cut shares of First Horizon from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $29.00 to $25.00 in a research note on Tuesday, April 7th. Finally, Keefe, Bruyette & Woods boosted 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 note on Thursday, April 16th. Nine research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, First Horizon has an average rating of “Hold” and an average price target of $26.45.

First Horizon Price Performance

FHN stock opened at $24.74 on Tuesday. The stock has a market capitalization of $11.74 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60. The company’s 50-day moving average is $24.24 and its 200-day moving average is $23.95. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.96 and a quick ratio of 0.96. First Horizon Corporation has a 1 year low of $19.10 and a 1 year high of $26.56.

First Horizon (NYSE:FHN) last released its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. The company had revenue of $865.00 million for the quarter, compared to analysts’ expectations of $869.49 million. First Horizon had a net margin of 20.54% and a return on equity of 11.65%. The business’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.42 EPS. Equities research analysts expect that First Horizon Corporation will post 2.16 EPS for the current fiscal year.

First Horizon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, June 12th. First Horizon’s dividend 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.