24,116 Shares in First Horizon Corporation (NYSE:FHN) Acquired by Argent Advisors Inc.

Argent Advisors Inc. acquired a new position in First Horizon Corporation (NYSE:FHN - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 24,116 shares of the financial services provider's stock, valued at approximately $468,000.

A number of other hedge funds also recently added to or reduced their stakes in FHN. Truist Financial Corp raised its stake in First Horizon by 2.6% during the 4th quarter. Truist Financial Corp now owns 48,049 shares of the financial services provider's stock valued at $968,000 after buying an additional 1,230 shares during the last quarter. IFP Advisors Inc raised its stake in First Horizon by 143.1% during the 4th quarter. IFP Advisors Inc now owns 5,977 shares of the financial services provider's stock valued at $120,000 after buying an additional 3,518 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in First Horizon during the 4th quarter valued at $2,589,000. Versor Investments LP purchased a new stake in First Horizon during the 4th quarter valued at $294,000. Finally, Fisher Asset Management LLC raised its stake in First Horizon by 237.2% during the 4th quarter. Fisher Asset Management LLC now owns 818,345 shares of the financial services provider's stock valued at $16,481,000 after buying an additional 575,661 shares during the last quarter. 80.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FHN. Keefe, Bruyette & Woods decreased their target price on shares of First Horizon from $24.00 to $22.00 and set a "market perform" rating for the company in a research note on Thursday, April 17th. Truist Financial assumed coverage on First Horizon in a research note on Tuesday, May 13th. They issued a "hold" rating and a $21.00 price objective for the company. Bank of America upped their price objective on First Horizon from $23.00 to $24.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Raymond James Financial reduced their price objective on First Horizon from $23.00 to $22.00 and set an "outperform" rating for the company in a research note on Wednesday, April 2nd. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $24.00 price objective (up from $22.00) on shares of First Horizon in a research note on Monday, June 9th. One analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $22.53.

First Horizon Stock Performance

First Horizon stock opened at $21.08 on Monday. The company has a 50 day moving average price of $19.47 and a 200-day moving average price of $19.80. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.95 and a current ratio of 0.96. First Horizon Corporation has a fifty-two week low of $14.34 and a fifty-two week high of $22.44. The company has a market capitalization of $10.69 billion, a PE ratio of 14.64, a P/E/G ratio of 1.07 and a beta of 0.61.

First Horizon (NYSE:FHN - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $823.69 million for the quarter, compared to analyst estimates of $825.11 million. First Horizon had a net margin of 16.13% and a return on equity of 10.33%. During the same period last year, the company posted $0.35 earnings per share. As a group, equities analysts forecast that First Horizon Corporation will post 1.67 earnings per share for the current year.

First Horizon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.85%. The ex-dividend date is Friday, June 13th. First Horizon's payout ratio is 41.67%.

First Horizon Profile

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.

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