Centennial Wealth Advisory LLC Takes Position in First Horizon Corporation (NYSE:FHN)

Centennial Wealth Advisory LLC bought a new position in shares of First Horizon Corporation (NYSE:FHN - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 15,627 shares of the financial services provider's stock, valued at approximately $303,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Millennium Management LLC grew its position in shares of First Horizon by 102.3% in the 4th quarter. Millennium Management LLC now owns 21,285,306 shares of the financial services provider's stock worth $428,686,000 after buying an additional 10,763,349 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in First Horizon by 26.2% during the 4th quarter. Bank of New York Mellon Corp now owns 37,131,162 shares of the financial services provider's stock valued at $747,822,000 after acquiring an additional 7,715,191 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in First Horizon by 496.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,202,539 shares of the financial services provider's stock valued at $165,199,000 after purchasing an additional 6,827,040 shares during the last quarter. Norges Bank acquired a new stake in First Horizon during the fourth quarter worth about $132,418,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of First Horizon during the 4th quarter worth approximately $102,467,000. 80.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on FHN. Bank of America lifted their price target on First Horizon from $23.00 to $24.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Keefe, Bruyette & Woods cut their price objective on shares of First Horizon from $24.00 to $22.00 and set a "market perform" rating for the company in a report on Thursday, April 17th. Wall Street Zen raised shares of First Horizon from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th. Robert W. Baird upgraded First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 price objective for the company in a research report on Monday, April 7th. Finally, Baird R W raised shares of First Horizon from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, First Horizon presently has an average rating of "Moderate Buy" and an average target price of $22.53.

First Horizon Trading Up 1.5%

NYSE FHN opened at $19.52 on Thursday. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.20. The firm has a 50 day moving average of $19.02 and a two-hundred day moving average of $19.82. The stock has a market capitalization of $9.90 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 0.98 and a beta of 0.61. First Horizon Corporation has a 52 week low of $14.34 and a 52 week high of $22.44.

First Horizon (NYSE:FHN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.02. The firm had revenue of $823.69 million during the quarter, compared to the consensus estimate of $825.11 million. First Horizon had a return on equity of 10.33% and a net margin of 16.13%. During the same period in the prior year, the company posted $0.35 earnings per share. As a group, research analysts expect that First Horizon Corporation will post 1.67 EPS for the current fiscal year.

First Horizon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, June 13th. This represents a $0.60 dividend on an annualized basis and a yield of 3.07%. First Horizon's dividend payout ratio is presently 41.67%.

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.

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