Leeward Investments LLC MA Reduces Stock Holdings in First Horizon Corporation (NYSE:FHN)

Leeward Investments LLC MA decreased its stake in First Horizon Corporation (NYSE:FHN - Free Report) by 4.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,831,744 shares of the financial services provider's stock after selling 77,480 shares during the quarter. First Horizon comprises 1.9% of Leeward Investments LLC MA's portfolio, making the stock its 2nd biggest holding. Leeward Investments LLC MA owned about 0.36% of First Horizon worth $35,572,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp purchased a new stake in shares of First Horizon during the fourth quarter valued at about $30,000. Byrne Asset Management LLC boosted its position 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 purchasing an additional 830 shares in the last quarter. Lee Danner & Bass Inc. purchased a new position in First Horizon during the fourth quarter worth approximately $50,000. Farther Finance Advisors LLC raised its holdings in shares of 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 valued at $52,000 after acquiring an additional 591 shares during the last quarter. Finally, Golden State Wealth Management LLC raised its holdings in shares of 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 valued at $52,000 after acquiring an additional 2,658 shares during the last quarter. 80.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FHN has been the subject of several recent analyst reports. Royal Bank Of Canada reissued an "outperform" rating and set a $24.00 target price (up previously from $22.00) on shares of First Horizon in a research note on Monday, June 9th. Baird R W raised First Horizon from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Wall Street Zen cut First Horizon from a "hold" rating to a "sell" rating in a research report on Sunday, June 22nd. Bank of America boosted their target price on First Horizon from $23.00 to $24.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Finally, Keefe, Bruyette & Woods reduced their price objective on First Horizon from $24.00 to $22.00 and set a "market perform" rating for the company in a research note on Thursday, April 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $22.47.

First Horizon Stock Performance

Shares of NYSE FHN traded down $0.18 during midday trading on Monday, hitting $21.83. 5,870,096 shares of the company's stock were exchanged, compared to its average volume of 6,024,590. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.96 and a quick ratio of 0.95. The stock's 50 day moving average price is $19.90 and its 200-day moving average price is $19.87. The firm has a market cap of $11.07 billion, a P/E ratio of 15.16, a PEG ratio of 1.13 and a beta of 0.61. First Horizon Corporation has a twelve month low of $14.34 and a twelve month high of $22.44.

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

First Horizon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.60 dividend on an annualized basis and a yield of 2.75%. First Horizon's dividend payout ratio (DPR) is 41.67%.

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.