Johnson Investment Counsel Inc. Has $54.10 Million Position in First Horizon Corporation (NYSE:FHN)

Johnson Investment Counsel Inc. grew its holdings in First Horizon Corporation (NYSE:FHN - Free Report) by 4.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,785,777 shares of the financial services provider's stock after purchasing an additional 124,185 shares during the period. Johnson Investment Counsel Inc. owned approximately 0.54% of First Horizon worth $54,100,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Jones Financial Companies Lllp acquired a new position in First Horizon during the fourth quarter valued at $30,000. Byrne Asset Management LLC grew its stake 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 acquiring an additional 830 shares in the last quarter. Lee Danner & Bass Inc. purchased a new position in First Horizon during the 4th quarter valued at about $50,000. Farther Finance Advisors LLC increased its holdings 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 purchasing an additional 591 shares during the period. Finally, Versant Capital Management Inc lifted its position in shares of First Horizon by 137.5% in the first quarter. Versant Capital Management Inc now owns 3,411 shares of the financial services provider's stock worth $66,000 after purchasing an additional 1,975 shares in the last quarter. Institutional investors and hedge funds own 80.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on FHN shares. Wall Street Zen raised shares of First Horizon from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th. Barclays lowered their target price on First Horizon from $25.00 to $23.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Raymond James Financial cut their price target on First Horizon from $23.00 to $22.00 and set an "outperform" rating for the company in a research note on Wednesday, April 2nd. Wells Fargo & Company lowered their price target on 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. Finally, Robert W. Baird raised shares of First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 price objective on the stock in a research report on Monday, April 7th. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $22.53.

First Horizon Price Performance

NYSE FHN opened at $19.52 on Thursday. The stock has a 50-day simple moving average of $19.02 and a 200 day simple moving average of $19.82. First Horizon Corporation has a twelve month low of $14.34 and a twelve month high of $22.44. The stock has a market capitalization of $9.90 billion, a PE ratio of 13.56, a P/E/G ratio of 0.98 and a beta of 0.61. 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 (NYSE:FHN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.42 EPS for the quarter, topping the consensus estimate of $0.40 by $0.02. First Horizon had a return on equity of 10.33% and a net margin of 16.13%. The company had revenue of $823.69 million for the quarter, compared to the consensus estimate of $825.11 million. During the same period in the previous year, the business posted $0.35 EPS. Research analysts anticipate that First Horizon Corporation will post 1.67 EPS for the current year.

First Horizon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Friday, June 13th. First Horizon's dividend payout ratio (DPR) 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.

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.