CWA Asset Management Group LLC Takes $2.40 Million Position in First Horizon Corporation (NYSE:FHN)

CWA Asset Management Group LLC acquired a new stake in First Horizon Corporation (NYSE:FHN - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 123,658 shares of the financial services provider's stock, valued at approximately $2,401,000.

Other hedge funds have also modified their holdings of the company. Jones Financial Companies Lllp acquired a new position in shares of First Horizon in the fourth quarter valued at about $30,000. Byrne Asset Management LLC increased its holdings in shares of First Horizon by 115.3% in the first quarter. Byrne Asset Management LLC now owns 1,550 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 830 shares during the period. Lee Danner & Bass Inc. acquired a new position in shares of First Horizon in the fourth quarter valued at about $50,000. Farther Finance Advisors LLC increased its holdings in shares of First Horizon by 29.9% in the fourth quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 591 shares during the period. Finally, Versant Capital Management Inc increased its holdings in shares of First Horizon by 137.5% in the first quarter. Versant Capital Management Inc now owns 3,411 shares of the financial services provider's stock valued at $66,000 after purchasing an additional 1,975 shares during the period. 80.28% of the stock is owned by institutional investors and hedge funds.

First Horizon Price Performance

FHN traded up $0.41 during trading on Friday, hitting $19.92. The company's stock had a trading volume of 13,290,147 shares, 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 twelve month low of $14.34 and a twelve month high of $22.44. The business's fifty day simple moving average is $19.13 and its 200 day simple moving average is $19.80. The firm has a market capitalization of $10.10 billion, a price-to-earnings ratio of 13.83, a P/E/G ratio of 1.02 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 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 company had revenue of $823.69 million for the quarter, compared to analyst estimates of $825.11 million. During the same period last year, the company earned $0.35 earnings per share. On average, equities research analysts forecast that First Horizon Corporation will post 1.67 EPS for the current fiscal year.

First Horizon Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued 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 currently 41.67%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Baird R W raised First Horizon from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Citigroup raised 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. Keefe, Bruyette & Woods dropped their target price on First Horizon from $24.00 to $22.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $24.00 target price (up from $22.00) on shares of First Horizon in a report on Monday, June 9th. Finally, Raymond James Financial dropped their target price on First Horizon from $23.00 to $22.00 and set an "outperform" rating on the stock in a report on Wednesday, April 2nd. One investment 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. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus 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.