First Horizon Corporation $FHN Stock Position Decreased by Hsbc Holdings PLC

Hsbc Holdings PLC trimmed its position in shares of First Horizon Corporation (NYSE:FHN) by 79.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,198 shares of the financial services provider’s stock after selling 203,686 shares during the quarter. Hsbc Holdings PLC’s holdings in First Horizon were worth $1,249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in FHN. Nalls Sherbakoff Group LLC acquired a new position in First Horizon in the fourth quarter worth approximately $359,000. Corient Private Wealth LLC lifted its stake in First Horizon by 4.5% in the fourth quarter. Corient Private Wealth LLC now owns 126,862 shares of the financial services provider’s stock valued at $3,032,000 after acquiring an additional 5,511 shares during the last quarter. TMB Capital Partners LLC acquired a new stake in First Horizon in the fourth quarter valued at approximately $553,000. Invesco Ltd. grew its position in First Horizon by 5.6% in the fourth quarter. Invesco Ltd. now owns 8,033,759 shares of the financial services provider’s stock worth $192,007,000 after acquiring an additional 426,951 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its position in First Horizon by 72.6% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 83,680 shares of the financial services provider’s stock worth $2,000,000 after acquiring an additional 35,208 shares in the last quarter. Institutional investors own 80.28% of the company’s stock.

First Horizon Stock Up 0.0%

First Horizon stock opened at $25.75 on Monday. The firm has a market cap of $12.22 billion, a price-to-earnings ratio of 12.87, a P/E/G ratio of 1.00 and a beta of 0.60. 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 fifty-two week low of $19.80 and a fifty-two week high of $26.56. The firm has a fifty day moving average price of $24.69 and a two-hundred day moving average price of $24.23.

First Horizon (NYSE:FHN) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.04. The company had revenue of $865.00 million for the quarter, compared to the consensus estimate of $869.49 million. First Horizon had a return on equity of 11.65% and a net margin of 20.54%.The firm’s revenue was up 6.2% compared to the same quarter last year. During the same period last year, the business posted $0.42 earnings per share. As a group, analysts forecast that First Horizon Corporation will post 2.15 earnings per share for the current year.

First Horizon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th were issued a dividend of $0.17 per share. The ex-dividend date was Friday, June 12th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.6%. First Horizon’s payout ratio is 34.00%.

Analysts Set New Price Targets

FHN has been the topic of several analyst reports. UBS Group downgraded shares of First Horizon from a “buy” rating to a “neutral” rating and cut their price target for the company from $29.00 to $25.00 in a report on Tuesday, April 7th. JPMorgan Chase & Co. upped their price objective on shares of First Horizon from $26.00 to $28.50 and gave the stock a “neutral” rating in a report on Wednesday, July 1st. Wells Fargo & Company increased their target price on shares of First Horizon from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Monday, July 6th. Truist Financial raised their target price on First Horizon from $26.00 to $27.00 and gave the company a “hold” rating in a report on Friday. Finally, Autonomous Res lowered First Horizon from a “strong-buy” rating to a “strong sell” rating in a report on Wednesday, April 29th. Nine equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $27.12.

About First Horizon

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.