First Horizon Corporation $FHN Stock Position Raised by Universal Beteiligungs und Servicegesellschaft mbH

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH increased its stake in First Horizon by 25.8% in Q4 to 565,870 shares, worth about $13.53 million (≈0.11% of the company).
• First Horizon reported quarterly EPS of $0.53 (beating estimates), raised its quarterly dividend to $0.17 (annualized yield ~2.8%), and its shares trade around $24.22 with a market cap near $11.6B.
• Analysts maintain a consensus "Hold" rating on FHN with an average price target of $26.45, reflecting mixed sentiment despite several target upgrades.

Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in shares of First Horizon Corporation (NYSE:FHN - Free Report) by 25.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 565,870 shares of the financial services provider's stock after acquiring an additional 116,006 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned 0.11% of First Horizon worth $13,525,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of FHN. Atlantic Union Bankshares Corp bought a new stake in shares of First Horizon during the 3rd quarter worth $25,000. Root Financial Partners LLC purchased a new stake in shares of First Horizon in the third quarter valued at $31,000. Kestra Investment Management LLC lifted its holdings in shares of First Horizon by 873.1% in the second quarter. Kestra Investment Management LLC now owns 1,625 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 1,458 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of First Horizon by 156.7% in the first quarter. Geneos Wealth Management Inc. now owns 1,794 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 1,095 shares in the last quarter. Finally, TD Waterhouse Canada Inc. lifted its holdings in shares of First Horizon by 122.3% in the third quarter. TD Waterhouse Canada Inc. now owns 1,636 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 900 shares in the last quarter. 80.28% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other First Horizon news, EVP Anthony J. Restel sold 5,719 shares of the firm's stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $24.35, for a total transaction of $139,257.65. Following the transaction, the executive vice president directly owned 619,132 shares in the company, valued at $15,075,864.20. This trade represents a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.91% of the stock is currently owned by company insiders.

First Horizon Price Performance

Shares of NYSE:FHN opened at $24.22 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.15. First Horizon Corporation has a 1 year low of $17.57 and a 1 year high of $26.56. The business has a fifty day simple moving average of $23.48 and a 200 day simple moving average of $23.24. The firm has a market cap of $11.57 billion, a price-to-earnings ratio of 12.11, a P/E/G ratio of 0.97 and a beta of 0.62.

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

First Horizon Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.8%. This is an increase from First Horizon's previous quarterly dividend of $0.15. The ex-dividend date was Friday, March 13th. First Horizon's dividend payout ratio is 34.00%.

Analyst Ratings Changes

A number of research firms have recently issued reports on FHN. The Goldman Sachs Group set a $27.00 target price on First Horizon and gave the company a "neutral" rating in a report on Tuesday, January 6th. Citigroup increased their target price on First Horizon from $28.00 to $28.50 and gave the company a "buy" rating in a report on Tuesday, February 24th. Keefe, Bruyette & Woods increased their target price on First Horizon from $25.00 to $26.00 and gave the company a "market perform" rating in a report on Thursday, April 16th. Wells Fargo & Company increased their target price on First Horizon from $23.00 to $25.00 and gave the company an "equal weight" rating in a report on Monday, March 30th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $28.00 price objective on shares of First Horizon in a report on Monday, January 12th. Nine investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average 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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