Andrew Hill Investment Advisors Inc. Makes New Investment in First Horizon Corporation $FHN

Key Points

• Andrew Hill Investment Advisors acquired 295,374 shares of First Horizon in Q4 (≈$7.06M), making FHN its third‑largest holding at about 5.4% of the firm's portfolio while representing roughly 0.06% ownership of First Horizon.
• First Horizon beat quarterly estimates with EPS $0.52 vs. $0.46 expected and $892M in revenue, and the company recently raised its quarterly dividend to $0.17 (annualized $0.68, ~2.8% yield).
• Institutional investors own about 80.28% of FHN; the stock trades near $24.06 (52‑week range $16.36–$26.56) and carries a consensus "Hold" rating with a $26.45 price target.

Andrew Hill Investment Advisors Inc. acquired a new stake in First Horizon Corporation (NYSE:FHN - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 295,374 shares of the financial services provider's stock, valued at approximately $7,059,000. First Horizon makes up about 5.4% of Andrew Hill Investment Advisors Inc.'s holdings, making the stock its 3rd largest holding. Andrew Hill Investment Advisors Inc. owned about 0.06% of First Horizon as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Invesco Ltd. lifted its stake in shares of First Horizon by 8.5% in the third quarter. Invesco Ltd. now owns 7,606,808 shares of the financial services provider's stock valued at $171,990,000 after buying an additional 595,869 shares in the last quarter. William Blair Investment Management LLC lifted its stake in shares of First Horizon by 38.7% in the third quarter. William Blair Investment Management LLC now owns 5,219,830 shares of the financial services provider's stock valued at $118,020,000 after buying an additional 1,456,820 shares in the last quarter. Freestone Grove Partners LP lifted its stake in shares of First Horizon by 25.3% in the third quarter. Freestone Grove Partners LP now owns 4,788,438 shares of the financial services provider's stock valued at $108,267,000 after buying an additional 967,219 shares in the last quarter. Raymond James Financial Inc. lifted its stake in shares of First Horizon by 0.3% in the third quarter. Raymond James Financial Inc. now owns 3,837,799 shares of the financial services provider's stock valued at $86,773,000 after buying an additional 10,302 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of First Horizon by 18.0% in the third quarter. Victory Capital Management Inc. now owns 3,233,074 shares of the financial services provider's stock valued at $73,100,000 after buying an additional 492,888 shares in the last quarter. 80.28% of the stock is owned by institutional investors.

Insider Transactions at First Horizon

In related news, EVP Anthony J. Restel sold 5,719 shares of the firm's stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $24.35, for a total transaction of $139,257.65. Following the completion of the sale, the executive vice president owned 619,132 shares in the company, valued at approximately $15,075,864.20. This trade represents a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.91% of the company's stock.

First Horizon Stock Performance

NYSE FHN opened at $24.06 on Monday. First Horizon Corporation has a 52-week low of $16.36 and a 52-week high of $26.56. The company has a 50-day simple moving average of $23.68 and a 200 day simple moving average of $23.12. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.96. The company has a market capitalization of $11.49 billion, a PE ratio of 12.80, a price-to-earnings-growth ratio of 0.94 and a beta of 0.62.

First Horizon (NYSE:FHN - Get Free Report) last posted its quarterly earnings data on Thursday, January 15th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.06. First Horizon had a net margin of 19.67% and a return on equity of 11.21%. The business had revenue of $892.00 million during the quarter, compared to the consensus estimate of $863.87 million. During the same quarter last year, the company posted $0.43 earnings per share. On average, research analysts predict that First Horizon Corporation will post 1.67 EPS for the current year.

First Horizon Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Friday, March 13th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.8%. This is a boost from First Horizon's previous quarterly dividend of $0.15. The ex-dividend date was Friday, March 13th. First Horizon's dividend payout ratio is 36.17%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Raymond James Financial raised their price objective on shares of First Horizon from $23.00 to $27.00 and gave the company an "outperform" rating in a research note on Wednesday, January 7th. Citigroup raised their price target on shares of First Horizon from $28.00 to $28.50 and gave the company a "buy" rating in a research report on Tuesday, February 24th. Barclays dropped their price target 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. Weiss Ratings lowered shares of First Horizon from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, March 17th. Finally, Truist Financial set a $27.00 price target on shares of First Horizon in a research report on Friday, January 9th. Eight analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $26.45.

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.

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