First Horizon Corporation (NYSE:FHN) Shares Acquired by Highland Capital Management LLC

Highland Capital Management LLC lifted its position in First Horizon Corporation (NYSE:FHN - Free Report) by 12.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 383,411 shares of the financial services provider's stock after purchasing an additional 43,747 shares during the quarter. Highland Capital Management LLC owned about 0.07% of First Horizon worth $7,446,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of FHN. Jones Financial Companies Lllp purchased a new position in First Horizon during the fourth quarter worth about $30,000. Byrne Asset Management LLC boosted its stake in First Horizon by 115.3% during the first quarter. Byrne Asset Management LLC now owns 1,550 shares of the financial services provider's stock worth $30,000 after buying an additional 830 shares during the period. Lee Danner & Bass Inc. purchased a new position in First Horizon during the fourth quarter worth about $50,000. Farther Finance Advisors LLC boosted its stake in First Horizon by 29.9% during the fourth quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider's stock worth $52,000 after buying an additional 591 shares during the period. Finally, Golden State Wealth Management LLC boosted its stake in First Horizon by 53,160.0% during the first quarter. Golden State Wealth Management LLC now owns 2,663 shares of the financial services provider's stock worth $52,000 after buying an additional 2,658 shares during the period. Hedge funds and other institutional investors own 80.28% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on FHN shares. Raymond James Financial reduced their price target on shares of First Horizon from $23.00 to $22.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 2nd. Barclays reduced their price target on shares of First Horizon from $25.00 to $23.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Royal Bank Of Canada reissued an "outperform" rating and set a $24.00 price target (up previously from $22.00) on shares of First Horizon in a research report on Monday, June 9th. Baird R W raised shares of First Horizon from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of First Horizon from $24.00 to $22.00 and set a "market perform" rating on the stock in a research report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, First Horizon currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.53.

First Horizon Stock Up 0.8%

FHN stock traded up $0.17 during midday trading on Friday, reaching $21.08. 11,313,656 shares of the company were exchanged, compared to its average volume of 6,081,811. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.95 and a current ratio of 0.96. First Horizon Corporation has a 1-year low of $14.34 and a 1-year high of $22.44. The stock's 50-day simple moving average is $19.47 and its 200 day simple moving average is $19.81. The company has a market cap of $10.69 billion, a price-to-earnings ratio of 14.64, a price-to-earnings-growth ratio of 1.07 and a beta of 0.61.

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

First Horizon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, June 13th. This represents a $0.60 dividend on an annualized basis and a yield of 2.85%. First Horizon's payout ratio is currently 41.67%.

First Horizon Company Profile

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.