First Horizon Corporation (NYSE:FHN) Shares Acquired by SG Americas Securities LLC

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

Several other large investors have also made changes to their positions in the business. JPMorgan Chase & Co. raised its holdings in shares of First Horizon by 160.1% during the fourth quarter. JPMorgan Chase & Co. now owns 5,524,827 shares of the financial services provider's stock valued at $111,270,000 after acquiring an additional 3,400,811 shares during the last quarter. GAMMA Investing LLC raised its stake in First Horizon by 2,658.3% in the 1st quarter. GAMMA Investing LLC now owns 251,470 shares of the financial services provider's stock valued at $4,884,000 after purchasing an additional 242,353 shares during the last quarter. Atria Investments Inc purchased a new position in First Horizon in the 4th quarter valued at $442,000. Johnson Investment Counsel Inc. lifted its holdings in First Horizon by 2.8% in the 4th quarter. Johnson Investment Counsel Inc. now owns 2,661,592 shares of the financial services provider's stock valued at $53,604,000 after purchasing an additional 72,339 shares in the last quarter. Finally, Versor Investments LP acquired a new stake in First Horizon during the 4th quarter worth $294,000. 80.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on FHN shares. Citigroup boosted their price target on shares of First Horizon from $24.00 to $25.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Keefe, Bruyette & Woods cut their target price on First Horizon from $24.00 to $22.00 and set a "market perform" rating for the company in a research note on Thursday, April 17th. Baird R W upgraded shares of First Horizon from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Wall Street Zen raised shares of First Horizon from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th. Finally, Jefferies Financial Group started coverage on First Horizon in a research note on Wednesday, May 21st. They issued a "buy" rating and a $25.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, First Horizon currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.53.

First Horizon Stock Up 2.4%

Shares of NYSE FHN traded up $0.47 during midday trading on Friday, hitting $19.98. 4,251,165 shares of the company's stock were exchanged, compared to its average volume of 5,759,273. The firm's fifty day simple moving average is $19.07 and its 200-day simple moving average is $19.81. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.96 and a quick ratio of 0.95. The company has a market cap of $10.13 billion, a PE ratio of 13.87, a P/E/G ratio of 1.00 and a beta of 0.61. First Horizon Corporation has a twelve month low of $14.34 and a twelve month high of $22.44.

First Horizon (NYSE:FHN - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.02. First Horizon had a net margin of 16.13% and a return on equity of 10.33%. The company had revenue of $823.69 million for the quarter, compared to analysts' expectations of $825.11 million. During the same quarter last year, the company earned $0.35 earnings per share. Research analysts predict that First Horizon Corporation will post 1.67 EPS for the current fiscal year.

First Horizon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.00%. The ex-dividend date is Friday, June 13th. First Horizon's payout ratio is currently 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.