Keybank National Association OH Trims Stake in First Horizon Corporation (NYSE:FHN)

Keybank National Association OH reduced its holdings in shares of First Horizon Corporation (NYSE:FHN - Free Report) by 23.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 67,532 shares of the financial services provider's stock after selling 21,199 shares during the period. Keybank National Association OH's holdings in First Horizon were worth $1,311,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp acquired a new stake in shares of First Horizon in the 4th quarter valued at about $30,000. Byrne Asset Management LLC grew its stake in shares of First Horizon by 115.3% in the 1st quarter. Byrne Asset Management LLC now owns 1,550 shares of the financial services provider's stock valued at $30,000 after buying an additional 830 shares during the period. Lee Danner & Bass Inc. acquired a new stake in shares of First Horizon in the 4th quarter valued at about $50,000. Farther Finance Advisors LLC grew its stake in shares of First Horizon by 29.9% in the 4th quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider's stock valued at $52,000 after buying an additional 591 shares during the period. Finally, Golden State Wealth Management LLC grew its stake in shares of First Horizon by 53,160.0% in the 1st quarter. Golden State Wealth Management LLC now owns 2,663 shares of the financial services provider's stock valued at $52,000 after buying an additional 2,658 shares during the period. 80.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on FHN. Jefferies Financial Group began coverage on First Horizon in a research note on Wednesday, May 21st. They set a "buy" rating and a $25.00 price target for the company. Truist Financial began coverage on First Horizon in a research note on Tuesday, May 13th. They set a "hold" rating and a $21.00 price target for the company. Barclays cut their price target on First Horizon from $25.00 to $23.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Wall Street Zen downgraded First Horizon from a "hold" rating to a "sell" rating in a research note on Sunday, June 22nd. Finally, Baird R W upgraded First Horizon from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, First Horizon has a consensus rating of "Moderate Buy" and an average target price of $22.47.

First Horizon Stock Performance

Shares of First Horizon stock traded up $0.10 during mid-day trading on Friday, hitting $21.86. 3,032,215 shares of the stock were exchanged, compared to its average volume of 6,025,222. First Horizon Corporation has a 12 month low of $14.34 and a 12 month high of $22.44. The company has a 50-day simple moving average of $19.90 and a 200 day simple moving average of $19.86. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.95 and a current ratio of 0.96. The company has a market capitalization of $11.09 billion, a P/E ratio of 15.18, a P/E/G ratio of 1.13 and a beta of 0.61.

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

First Horizon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were given a dividend of $0.15 per share. The ex-dividend date was Friday, June 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.74%. First Horizon's dividend payout ratio (DPR) is currently 41.67%.

About First Horizon

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.