KBC Group NV Decreases Holdings in First Horizon Corporation (NYSE:FHN)

KBC Group NV lessened its stake in First Horizon Corporation (NYSE:FHN - Free Report) by 86.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,328 shares of the financial services provider's stock after selling 143,633 shares during the period. KBC Group NV's holdings in First Horizon were worth $453,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in FHN. Smartleaf Asset Management LLC grew its position in First Horizon by 20.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,736 shares of the financial services provider's stock worth $95,000 after purchasing an additional 820 shares during the period. Jones Financial Companies Lllp bought a new stake in First Horizon in the 4th quarter worth approximately $30,000. Steward Partners Investment Advisory LLC grew its position in First Horizon by 3.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 15,731 shares of the financial services provider's stock worth $317,000 after purchasing an additional 571 shares during the period. Keybank National Association OH grew its position in First Horizon by 11.9% in the 4th quarter. Keybank National Association OH now owns 88,731 shares of the financial services provider's stock worth $1,787,000 after purchasing an additional 9,402 shares during the period. Finally, Atria Investments Inc bought a new stake in First Horizon in the 4th quarter worth approximately $442,000. Institutional investors own 80.28% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on FHN shares. JPMorgan Chase & Co. lifted their target price on shares of First Horizon from $19.50 to $22.50 and gave the stock a "neutral" rating in a research report on Tuesday, July 1st. Jefferies Financial Group started coverage on shares of First Horizon in a research report on Wednesday, May 21st. They set a "buy" rating and a $25.00 price objective for the company. Truist Financial started coverage on shares of First Horizon in a research report on Tuesday, May 13th. They set a "hold" rating and a $21.00 price objective for the company. Bank of America boosted their price objective on shares of First Horizon from $23.00 to $24.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. Finally, Raymond James Financial reissued an "outperform" rating and set a $24.00 price objective (up previously from $20.00) on shares of First Horizon in a research report on Tuesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $22.78.

First Horizon Price Performance

First Horizon stock traded up $0.11 during mid-day trading on Tuesday, hitting $21.96. The stock had a trading volume of 4,470,397 shares, compared to its average volume of 6,019,434. The firm has a market capitalization of $11.14 billion, a P/E ratio of 15.25, a P/E/G ratio of 1.12 and a beta of 0.61. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.20. The firm's 50 day moving average is $20.05 and its 200 day moving average is $19.89. First Horizon Corporation has a one year low of $14.34 and a one year high of $22.44.

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

First Horizon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend was Friday, June 13th. First Horizon's dividend payout ratio (DPR) is presently 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.