First Horizon Co. (NYSE:FHN) Shares Acquired by Crestline Management LP

Crestline Management LP boosted its holdings in First Horizon Co. (NYSE:FHN - Free Report) by 213.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 139,626 shares of the financial services provider's stock after purchasing an additional 95,117 shares during the period. Crestline Management LP's holdings in First Horizon were worth $2,812,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Versant Capital Management Inc lifted its holdings in First Horizon by 160.1% in the 4th quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider's stock worth $29,000 after buying an additional 884 shares during the period. Jones Financial Companies Lllp purchased a new stake in First Horizon in the 4th quarter worth approximately $30,000. Kentucky Trust Co purchased a new stake in First Horizon in the 4th quarter worth approximately $32,000. Lee Danner & Bass Inc. purchased a new stake in First Horizon in the 4th quarter worth approximately $50,000. Finally, Farther Finance Advisors LLC increased its position in shares of First Horizon by 29.9% during the fourth quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider's stock valued at $52,000 after buying an additional 591 shares during the period. Institutional investors own 80.28% of the company's stock.

First Horizon Stock Performance

FHN stock traded up $0.12 during trading on Tuesday, reaching $20.18. The company had a trading volume of 1,881,323 shares, compared to its average volume of 6,136,164. The firm has a 50-day simple moving average of $18.26 and a 200-day simple moving average of $19.75. First Horizon Co. has a twelve month low of $14.09 and a twelve month high of $22.44. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96. The company has a market cap of $10.24 billion, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 1.19 and a beta of 0.59.

First Horizon (NYSE:FHN - Get Free Report) last posted its earnings results on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.02. The firm had revenue of $823.69 million during the quarter, compared to analysts' expectations of $825.11 million. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. During the same period in the previous year, the business posted $0.35 EPS. As a group, sell-side analysts expect that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.60 annualized dividend and a dividend yield of 2.97%. First Horizon's dividend payout ratio is presently 41.67%.

Wall Street Analysts Forecast Growth

FHN has been the subject of several research reports. Citigroup increased their target price on First Horizon from $24.00 to $25.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Wells Fargo & Company reduced their target price on First Horizon from $22.00 to $20.00 and set an "equal weight" rating for the company in a report on Wednesday, April 9th. Barclays reduced their target price on shares of First Horizon from $25.00 to $23.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Truist Financial initiated coverage on First Horizon in a research report on Tuesday. They set a "hold" rating and a $21.00 target price on the stock. Finally, Keefe, Bruyette & Woods lowered their price objective on First Horizon from $24.00 to $22.00 and set a "market perform" rating on the stock in a research report on Thursday, April 17th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $21.97.

About First Horizon

First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial services. The company operates through Regional Banking and Specialty Banking segments. It offers general banking services for consumers, businesses, financial institutions, and governments.