First Horizon Corporation $FHN Shares Bought by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC raised its stake in First Horizon Corporation (NYSE:FHN - Free Report) by 52.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 562,604 shares of the financial services provider's stock after acquiring an additional 194,406 shares during the period. Brandywine Global Investment Management LLC owned 0.11% of First Horizon worth $13,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Atlantic Union Bankshares Corp acquired a new stake in shares of First Horizon during the third quarter worth about $25,000. Kestra Investment Management LLC boosted its stake in shares of First Horizon by 873.1% during the second quarter. Kestra Investment Management LLC now owns 1,625 shares of the financial services provider's stock worth $34,000 after buying an additional 1,458 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of First Horizon by 156.7% during the first quarter. Geneos Wealth Management Inc. now owns 1,794 shares of the financial services provider's stock worth $35,000 after buying an additional 1,095 shares during the period. Cary Street Partners Investment Advisory LLC boosted its stake in shares of First Horizon by 1,348.2% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 2,013 shares of the financial services provider's stock worth $48,000 after buying an additional 1,874 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of First Horizon during the fourth quarter worth about $51,000. Institutional investors and hedge funds own 80.28% of the company's stock.

First Horizon Trading Up 0.4%

Shares of First Horizon stock opened at $24.27 on Tuesday. First Horizon Corporation has a 12-month low of $19.03 and a 12-month high of $26.56. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.15. The stock has a market cap of $11.52 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 0.94 and a beta of 0.60. The company has a 50-day moving average of $24.01 and a two-hundred day moving average of $23.83.

First Horizon (NYSE:FHN - Get Free Report) last issued its earnings results on Wednesday, April 15th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.49 by $0.04. First Horizon had a net margin of 20.54% and a return on equity of 11.65%. The company had revenue of $865.00 million during the quarter, compared to analysts' expectations of $869.49 million. During the same period last year, the company posted $0.42 earnings per share. The firm's quarterly revenue was up 6.2% compared to the same quarter last year. On average, research analysts anticipate that First Horizon Corporation will post 2.16 EPS for the current fiscal year.

First Horizon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $0.68 dividend on an annualized basis and a yield of 2.8%. First Horizon's dividend payout ratio (DPR) is 34.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FHN shares. Weiss Ratings upgraded shares of First Horizon from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, April 16th. Keefe, Bruyette & Woods increased their target price on shares of First Horizon from $25.00 to $26.00 and gave the stock a "market perform" rating in a research note on Thursday, April 16th. Wall Street Zen upgraded shares of First Horizon from a "sell" rating to a "hold" rating in a research note on Tuesday, June 2nd. DA Davidson reiterated a "neutral" rating and set a $26.00 target price on shares of First Horizon in a research note on Thursday, April 16th. Finally, Citigroup increased their target price on shares of First Horizon from $28.00 to $28.50 and gave the stock a "buy" rating in a research note on Tuesday, February 24th. Nine analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, First Horizon presently has a consensus rating of "Hold" and a consensus price target of $26.45.

First Horizon Company Profile

First Horizon Corporation, headquartered in Memphis, Tennessee, is a diversified financial services company providing an array of retail, commercial and wealth management solutions. As the largest bank-based financial services firm in Tennessee, First Horizon operates through a network of branches and digital platforms across the Southeastern United States, offering personal and business banking, mortgage origination and servicing, payment solutions and treasury management services.

Tracing its origins to the First National Bank of Memphis established in 1864, First Horizon has grown through strategic acquisitions and organic expansion to serve customers in Tennessee, Texas, North Carolina, South Carolina, Georgia and Florida.

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