LifeWealth Investments LLC Buys Shares of 13,180 First Horizon Corporation (NYSE:FHN)

LifeWealth Investments LLC acquired a new stake in First Horizon Corporation (NYSE:FHN - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 13,180 shares of the financial services provider's stock, valued at approximately $256,000.

Several other hedge funds also recently modified their holdings of FHN. Millennium Management LLC grew its stake in First Horizon by 102.3% in the fourth quarter. Millennium Management LLC now owns 21,285,306 shares of the financial services provider's stock valued at $428,686,000 after acquiring an additional 10,763,349 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of First Horizon by 26.2% in the 4th quarter. Bank of New York Mellon Corp now owns 37,131,162 shares of the financial services provider's stock worth $747,822,000 after purchasing an additional 7,715,191 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in First Horizon by 496.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,202,539 shares of the financial services provider's stock valued at $165,199,000 after purchasing an additional 6,827,040 shares during the period. Norges Bank acquired a new stake in First Horizon in the 4th quarter valued at $132,418,000. Finally, Raymond James Financial Inc. bought a new stake in First Horizon during the 4th quarter valued at $102,467,000. Institutional investors own 80.28% of the company's stock.

First Horizon Stock Performance

NYSE:FHN traded up $0.35 during trading on Friday, reaching $19.86. The company's stock had a trading volume of 1,564,299 shares, compared to its average volume of 6,025,366. First Horizon Corporation has a 12 month low of $14.34 and a 12 month high of $22.44. The firm has a market cap of $10.07 billion, a price-to-earnings ratio of 13.76, a price-to-earnings-growth ratio of 1.00 and a beta of 0.61. The firm has a 50 day moving average of $19.07 and a 200-day moving average of $19.81. 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 posted its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share 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 company had revenue of $823.69 million during the quarter, compared to analyst estimates of $825.11 million. During the same quarter in the prior year, the business earned $0.35 earnings per share. Research analysts expect that First Horizon Corporation will post 1.67 EPS for the current fiscal year.

First Horizon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders 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 dividend yield of 3.02%. The ex-dividend date is Friday, June 13th. First Horizon's dividend payout ratio is currently 41.67%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wells Fargo & Company dropped their price objective on shares of First Horizon from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Robert W. Baird raised shares of First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 price target on the stock in a research report on Monday, April 7th. Jefferies Financial Group assumed coverage on First Horizon in a research note on Wednesday, May 21st. They set a "buy" rating and a $25.00 price target for the company. Wall Street Zen raised First Horizon from a "sell" rating to a "hold" rating in a research note on Saturday, June 14th. Finally, Keefe, Bruyette & Woods dropped their target price on First Horizon from $24.00 to $22.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. Seven investment 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. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $22.53.

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.