Callan Family Office LLC Buys Shares of 61,466 First Horizon Corporation $FHN

Callan Family Office LLC bought a new position in First Horizon Corporation (NYSE:FHN - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 61,466 shares of the financial services provider's stock, valued at approximately $1,576,000.

Other large investors have also made changes to their positions in the company. Goldman Sachs Group Inc. lifted its stake in shares of First Horizon by 102.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,709,434 shares of the financial services provider's stock worth $33,197,000 after purchasing an additional 865,109 shares during the period. Geneos Wealth Management Inc. grew its position in First Horizon by 156.7% during the first quarter. Geneos Wealth Management Inc. now owns 1,794 shares of the financial services provider's stock valued at $35,000 after buying an additional 1,095 shares during the period. EverSource Wealth Advisors LLC increased its holdings in First Horizon by 88.1% during the second quarter. EverSource Wealth Advisors LLC now owns 8,189 shares of the financial services provider's stock valued at $174,000 after buying an additional 3,835 shares during the last quarter. Federated Hermes Inc. increased its holdings in First Horizon by 9.1% during the second quarter. Federated Hermes Inc. now owns 54,125 shares of the financial services provider's stock valued at $1,147,000 after buying an additional 4,507 shares during the last quarter. Finally, Cerity Partners LLC raised its position in 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 acquiring an additional 26,323 shares during the period. 80.28% of the stock is currently owned by institutional investors.

First Horizon Price Performance

Shares of NYSE:FHN opened at $24.60 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.97 and a quick ratio of 0.96. First Horizon Corporation has a 1-year low of $19.80 and a 1-year high of $26.56. The company has a market capitalization of $11.65 billion, a P/E ratio of 11.77, a P/E/G ratio of 0.98 and a beta of 0.61. The firm's 50 day simple moving average is $25.48 and its two-hundred day simple moving average is $24.50.

First Horizon (NYSE:FHN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.02. The business had revenue of $887.00 million during the quarter, compared to analyst estimates of $878.42 million. First Horizon had a net margin of 21.12% and a return on equity of 12.06%. During the same period in the prior year, the business posted $0.45 earnings per share. Research analysts expect that First Horizon Corporation will post 2.15 EPS for the current fiscal year.

First Horizon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be paid a dividend of $0.17 per share. The ex-dividend date is Friday, September 11th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.8%. First Horizon's payout ratio is 32.54%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FHN. UBS Group reiterated a "buy" rating on shares of First Horizon in a research note on Thursday, July 16th. Fundamental Research set a $28.50 price objective on First Horizon in a research note on Wednesday, July 1st. Autonomous Res cut First Horizon from a "strong-buy" rating to a "strong sell" rating in a report on Wednesday, April 29th. Weiss Ratings upgraded First Horizon from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, June 8th. Finally, JPMorgan Chase & Co. cut their price target on First Horizon from $28.50 to $27.00 and set a "neutral" rating for the company in a report on Thursday, July 16th. Nine investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $27.26.

First Horizon Company 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.

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