First Horizon Corporation (NYSE:FHN) Holdings Reduced by Vishria Bird Financial Group LLC

Vishria Bird Financial Group LLC lessened its stake in First Horizon Corporation (NYSE:FHN - Free Report) by 50.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,160 shares of the financial services provider's stock after selling 19,160 shares during the quarter. Vishria Bird Financial Group LLC's holdings in First Horizon were worth $372,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp bought a new stake in shares of First Horizon in the fourth quarter valued at about $30,000. Byrne Asset Management LLC raised its stake in 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 acquiring an additional 830 shares during the period. Lee Danner & Bass Inc. bought a new position in shares of First Horizon in the fourth quarter valued at about $50,000. Farther Finance Advisors LLC boosted its stake in 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 purchasing an additional 591 shares during the period. Finally, Golden State Wealth Management LLC boosted its position in shares of First Horizon by 53,160.0% in the first quarter. Golden State Wealth Management LLC now owns 2,663 shares of the financial services provider's stock valued at $52,000 after acquiring an additional 2,658 shares during the period. Institutional investors own 80.28% of the company's stock.

First Horizon Price Performance

Shares of FHN stock traded up $0.30 during mid-day trading on Wednesday, hitting $21.79. 7,248,478 shares of the stock were exchanged, compared to its average volume of 6,032,774. The company has a market cap of $11.05 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 1.08 and a beta of 0.61. First Horizon Corporation has a 52-week low of $14.34 and a 52-week high of $22.44. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.20. The firm has a fifty day moving average of $19.65 and a 200 day moving average of $19.82.

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

First Horizon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.75%. The ex-dividend date was Friday, June 13th. First Horizon's payout ratio is 41.67%.

Analyst Upgrades and Downgrades

FHN has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their price objective on First Horizon from $19.50 to $22.50 and gave the company a "neutral" rating in a research note on Tuesday. Truist Financial started coverage on shares of First Horizon in a report on Tuesday, May 13th. They issued a "hold" rating and a $21.00 price target for the company. Wall Street Zen cut First Horizon from a "hold" rating to a "sell" rating in a report on Sunday, June 22nd. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $24.00 target price (up previously from $22.00) on shares of First Horizon in a research report on Monday, June 9th. Finally, Wells Fargo & Company decreased their price objective on shares of First Horizon from $22.00 to $20.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $22.47.

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.