First Horizon Corporation $FHN Stock Position Raised by Renaissance Technologies LLC

Renaissance Technologies LLC grew its holdings in First Horizon Corporation (NYSE:FHN - Free Report) by 158.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 540,211 shares of the financial services provider's stock after purchasing an additional 330,800 shares during the period. Renaissance Technologies LLC owned approximately 0.11% of First Horizon worth $12,295,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Bessemer Group Inc. boosted its stake in shares of First Horizon by 0.3% during the 1st quarter. Bessemer Group Inc. now owns 138,920 shares of the financial services provider's stock valued at $3,162,000 after buying an additional 425 shares during the period. Thoroughbred Financial Services LLC grew its holdings in shares of First Horizon by 3.4% during the 4th quarter. Thoroughbred Financial Services LLC now owns 14,055 shares of the financial services provider's stock valued at $335,000 after acquiring an additional 457 shares in the last quarter. Illinois Municipal Retirement Fund increased its stake in shares of First Horizon by 0.7% in the fourth quarter. Illinois Municipal Retirement Fund now owns 68,661 shares of the financial services provider's stock worth $1,641,000 after acquiring an additional 489 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of First Horizon by 1.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 40,296 shares of the financial services provider's stock worth $963,000 after acquiring an additional 507 shares during the last quarter. Finally, Aaron Wealth Advisors LLC raised its holdings in shares of First Horizon by 5.4% during the fourth quarter. Aaron Wealth Advisors LLC now owns 9,905 shares of the financial services provider's stock worth $237,000 after acquiring an additional 511 shares in the last quarter. Institutional investors and hedge funds own 80.28% of the company's stock.

Analyst Ratings Changes

FHN has been the subject of a number of analyst reports. UBS Group reiterated a "buy" rating on shares of First Horizon in a research note on Thursday, July 16th. Weiss Ratings upgraded shares of First Horizon from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, June 8th. Barclays cut their price target on shares of First Horizon from $30.00 to $29.00 and set an "overweight" rating on the stock in a report on Tuesday, April 7th. Raymond James Financial upped their price objective on shares of First Horizon from $26.00 to $28.00 and gave the stock an "outperform" rating in a report on Wednesday, July 1st. Finally, National Bank Financial set a $29.00 target price on shares of First Horizon in a research report on Thursday, July 16th. Nine research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $27.16.

First Horizon Stock Up 0.9%

FHN opened at $25.69 on Friday. The firm has a market cap of $12.19 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 1.02 and a beta of 0.60. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.96 and a current ratio of 0.97. The firm's 50-day simple moving average is $25.11 and its 200-day simple moving average is $24.36. First Horizon Corporation has a twelve month low of $19.80 and a twelve month high of $26.56.

First Horizon (NYSE:FHN - Get Free Report) last issued its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. The firm had revenue of $890.00 million during the quarter, compared to the consensus estimate of $878.42 million. First Horizon had a return on equity of 12.06% and a net margin of 21.12%.During the same quarter in the previous year, the company posted $0.45 EPS. Equities research analysts anticipate that First Horizon Corporation will post 2.15 EPS for the current fiscal year.

First Horizon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.6%. The ex-dividend date is Friday, September 11th. First Horizon's dividend payout ratio (DPR) is presently 32.54%.

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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