Centennial Wealth Advisory LLC Buys Shares of 15,627 First Horizon Corporation (NYSE:FHN)

Centennial Wealth Advisory LLC acquired a new stake in shares of First Horizon Corporation (NYSE:FHN - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 15,627 shares of the financial services provider's stock, valued at approximately $303,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Johnson Investment Counsel Inc. grew its position in First Horizon by 4.7% in the first quarter. Johnson Investment Counsel Inc. now owns 2,785,777 shares of the financial services provider's stock valued at $54,100,000 after acquiring an additional 124,185 shares during the period. State of Alaska Department of Revenue grew its position in First Horizon by 1.6% in the first quarter. State of Alaska Department of Revenue now owns 61,408 shares of the financial services provider's stock valued at $1,192,000 after acquiring an additional 965 shares during the period. CWA Asset Management Group LLC bought a new stake in First Horizon in the first quarter valued at $2,401,000. LifeWealth Investments LLC bought a new stake in First Horizon in the first quarter valued at $256,000. Finally, Sentry LLC grew its position in First Horizon by 9.7% in the first quarter. Sentry LLC now owns 30,469 shares of the financial services provider's stock valued at $592,000 after acquiring an additional 2,702 shares during the period. 80.28% of the stock is currently owned by institutional investors.

First Horizon Trading Up 2.1%

Shares of FHN traded up $0.41 during trading hours on Friday, hitting $19.92. 13,290,147 shares of the stock traded hands, compared to its average volume of 6,052,831. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.20. First Horizon Corporation has a 1-year low of $14.34 and a 1-year high of $22.44. The firm has a market capitalization of $10.10 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 1.02 and a beta of 0.61. The business has a fifty day moving average of $19.13 and a 200-day moving average of $19.80.

First Horizon (NYSE:FHN - Get Free Report) last issued its quarterly 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. First Horizon had a return on equity of 10.33% and a net margin of 16.13%. The business had revenue of $823.69 million for the quarter, compared to analyst estimates of $825.11 million. During the same quarter in the prior year, the firm posted $0.35 earnings per share. Analysts expect that First Horizon Corporation will post 1.67 EPS for the current year.

First Horizon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend is Friday, June 13th. First Horizon's payout ratio is 41.67%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FHN. Bank of America upped their price target on First Horizon from $23.00 to $24.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. Wall Street Zen cut First Horizon from a "hold" rating to a "sell" rating in a research report on Sunday. Barclays cut their price objective on First Horizon from $25.00 to $23.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Citigroup increased their target price on First Horizon from $24.00 to $25.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $24.00 target price (up from $22.00) on shares of First Horizon in a research note on Monday, June 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $22.53.

First Horizon Company 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.