Leeward Investments LLC MA Has $35.57 Million Stake in First Horizon Corporation (NYSE:FHN)

Leeward Investments LLC MA decreased its holdings in shares of First Horizon Corporation (NYSE:FHN - Free Report) by 4.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,831,744 shares of the financial services provider's stock after selling 77,480 shares during the quarter. First Horizon makes up about 1.9% of Leeward Investments LLC MA's investment portfolio, making the stock its 2nd biggest holding. Leeward Investments LLC MA owned 0.36% of First Horizon worth $35,572,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp acquired a new stake in First Horizon in the fourth quarter valued at $30,000. Byrne Asset Management LLC raised its position in shares of First Horizon by 115.3% in the first 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. Lee Danner & Bass Inc. bought a new position in shares of First Horizon in the fourth quarter valued at about $50,000. Farther Finance Advisors LLC raised its position in shares of First Horizon by 29.9% in the fourth 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, Golden State Wealth Management LLC increased its position 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 acquiring an additional 2,658 shares during the period. Institutional investors and hedge funds own 80.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FHN. Raymond James Financial reduced their price objective on shares of First Horizon from $23.00 to $22.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods reduced their price objective on shares of First Horizon from $24.00 to $22.00 and set a "market perform" rating on the stock in a research note on Thursday, April 17th. Wall Street Zen downgraded shares of First Horizon from a "hold" rating to a "sell" rating in a research note on Sunday, June 22nd. JPMorgan Chase & Co. raised their price target on shares of First Horizon from $19.50 to $22.50 and gave the company a "neutral" rating in a research note on Tuesday, July 1st. Finally, Baird R W upgraded shares of First Horizon from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $22.47.

First Horizon Trading Up 0.5%

NYSE:FHN traded up $0.10 during mid-day trading on Friday, hitting $21.86. 3,032,215 shares of the company's stock were exchanged, compared to its average volume of 6,025,222. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.20. First Horizon Corporation has a fifty-two week low of $14.34 and a fifty-two week high of $22.44. The company has a 50 day simple moving average of $19.90 and a 200-day simple moving average of $19.86. The firm has a market capitalization of $11.09 billion, a P/E ratio of 15.18, a PEG ratio of 1.13 and a beta of 0.61.

First Horizon (NYSE:FHN - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $823.69 million during the quarter, compared to analyst estimates of $825.11 million. First Horizon had a net margin of 16.13% and a return on equity of 10.33%. During the same quarter last year, the business earned $0.35 EPS. As a group, research analysts expect 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 was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.60 annualized dividend and a dividend yield of 2.74%. First Horizon's dividend payout ratio is currently 41.67%.

First Horizon 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.