First Horizon Co. (NYSE:FHN) Holdings Lifted by SG Americas Securities LLC

SG Americas Securities LLC grew its position in First Horizon Co. (NYSE:FHN - Free Report) by 286.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 63,346 shares of the financial services provider's stock after purchasing an additional 46,975 shares during the period. SG Americas Securities LLC's holdings in First Horizon were worth $1,230,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of FHN. Millennium Management LLC lifted its stake 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 acquiring an additional 10,763,349 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of First Horizon by 26.2% in the 4th quarter. Bank of New York Mellon Corp now owns 37,131,162 shares of the financial services provider's stock worth $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 lifted its stake in shares of First Horizon by 496.3% in the 4th 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 worth $165,199,000 after acquiring an additional 6,827,040 shares during the period. Norges Bank acquired a new stake in shares of First Horizon in the 4th quarter worth approximately $132,418,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of First Horizon in the 4th quarter worth approximately $102,467,000. Institutional investors own 80.28% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Barclays cut their target price on shares of First Horizon from $25.00 to $23.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Truist Financial began coverage on shares of First Horizon in a research note on Tuesday, May 13th. They set a "hold" rating and a $21.00 target price for the company. Citigroup upped their price target on shares of First Horizon from $24.00 to $25.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Wall Street Zen upgraded shares of First Horizon from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, Jefferies Financial Group began coverage on shares of First Horizon in a research report on Wednesday, May 21st. They issued a "buy" rating and a $25.00 price target for the company. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.53.

First Horizon Stock Up 1.8%

First Horizon stock opened at $19.44 on Tuesday. The stock has a market capitalization of $9.86 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 1.19 and a beta of 0.61. First Horizon Co. has a twelve month low of $14.11 and a twelve month high of $22.44. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. The company has a 50 day moving average of $18.97 and a 200-day moving average of $19.83.

First Horizon (NYSE:FHN - Get Free Report) last announced its earnings results on Wednesday, April 16th. The financial services provider reported $0.42 EPS for the quarter, topping the consensus estimate of $0.40 by $0.02. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. The business had revenue of $823.69 million during the quarter, compared to analysts' expectations of $825.11 million. During the same quarter in the prior year, the company posted $0.35 earnings per share. On average, equities research analysts anticipate that First Horizon Co. will post 1.67 EPS for the current fiscal year.

First Horizon Announces Dividend

The firm 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 $0.15 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.60 annualized dividend and a dividend yield of 3.09%. First Horizon's dividend payout ratio (DPR) is presently 41.67%.

First Horizon 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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