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Invesco Ltd. Has $131.19 Million Holdings in First Horizon Corporation (NYSE:FHN)

First Horizon logo with Finance background

Invesco Ltd. raised its holdings in shares of First Horizon Corporation (NYSE:FHN - Free Report) by 78.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,755,510 shares of the financial services provider's stock after purchasing an additional 2,968,012 shares during the period. Invesco Ltd. owned 1.33% of First Horizon worth $131,192,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Byrne Asset Management LLC lifted its position in First Horizon by 115.3% during the 1st quarter. Byrne Asset Management LLC now owns 1,550 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 830 shares during the period. Golden State Wealth Management LLC increased 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 acquiring an additional 2,658 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of First Horizon by 137.5% in the 1st quarter. Versant Capital Management Inc now owns 3,411 shares of the financial services provider's stock valued at $66,000 after acquiring an additional 1,975 shares during the last quarter. Mpwm Advisory Solutions LLC bought a new stake in shares of First Horizon in the 4th quarter valued at about $130,000. Finally, UMB Bank n.a. increased its stake in shares of First Horizon by 143.5% in the 1st quarter. UMB Bank n.a. now owns 6,716 shares of the financial services provider's stock valued at $130,000 after acquiring an additional 3,958 shares during the last quarter. 80.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FHN. Jefferies Financial Group began coverage on First Horizon in a research note on Wednesday, May 21st. They issued a "buy" rating and a $25.00 price target for the company. Truist Financial upped their price target on First Horizon from $21.00 to $23.00 and gave the company a "hold" rating in a research note on Friday, July 11th. JPMorgan Chase & Co. upped their price target on First Horizon from $19.50 to $22.50 and gave the company a "neutral" rating in a research note on Tuesday, July 1st. Citigroup upped their price target on First Horizon from $22.00 to $25.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Finally, Barclays upped their price target on First Horizon from $23.00 to $26.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $23.28.

Check Out Our Latest Stock Analysis on FHN

First Horizon Price Performance

Shares of FHN opened at $22.28 on Friday. The stock has a market capitalization of $11.31 billion, a P/E ratio of 14.37, a P/E/G ratio of 1.05 and a beta of 0.65. First Horizon Corporation has a twelve month low of $14.82 and a twelve month high of $23.00. The company has a 50 day moving average of $21.30 and a 200-day moving average of $20.14. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.15.

First Horizon (NYSE:FHN - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.04. The company had revenue of $830.19 million during the quarter, compared to analysts' expectations of $832.95 million. First Horizon had a net margin of 17.10% and a return on equity of 10.55%. During the same period last year, the business earned $0.36 EPS. As a group, equities research analysts forecast that First Horizon Corporation will post 1.67 EPS for the current fiscal year.

First Horizon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, September 12th. First Horizon's dividend payout ratio is presently 38.71%.

Insider Activity at First Horizon

In other news, EVP David T. Popwell sold 38,010 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $22.20, for a total value of $843,822.00. Following the completion of the sale, the executive vice president owned 550,011 shares of the company's stock, valued at approximately $12,210,244.20. This represents a 6.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Tammy Locascio sold 10,285 shares of the stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $22.25, for a total value of $228,841.25. Following the completion of the sale, the chief operating officer directly owned 342,051 shares of the company's stock, valued at approximately $7,610,634.75. The trade was a 2.92% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.87% of the company's stock.

First Horizon Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for First Horizon (NYSE:FHN)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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