13,180 Shares in First Horizon Corporation (NYSE:FHN) Bought by LifeWealth Investments LLC

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

A number of other institutional investors and hedge funds have also recently bought and sold shares of FHN. CIBC Asset Management Inc grew its position in First Horizon by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 17,214 shares of the financial services provider's stock worth $347,000 after acquiring an additional 884 shares in the last quarter. Truist Financial Corp grew its position in First Horizon by 2.6% in the fourth quarter. Truist Financial Corp now owns 48,049 shares of the financial services provider's stock worth $968,000 after acquiring an additional 1,230 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in First Horizon in the fourth quarter worth $101,000. Ieq Capital LLC boosted its holdings in First Horizon by 601.2% in the fourth quarter. Ieq Capital LLC now owns 180,121 shares of the financial services provider's stock worth $3,628,000 after purchasing an additional 154,433 shares in the last quarter. Finally, Concurrent Investment Advisors LLC boosted its holdings in First Horizon by 87.8% in the fourth quarter. Concurrent Investment Advisors LLC now owns 21,039 shares of the financial services provider's stock worth $424,000 after purchasing an additional 9,836 shares in the last quarter. Hedge funds and other institutional investors own 80.28% of the company's stock.

First Horizon Stock Performance

First Horizon stock traded up $0.41 during mid-day trading on Friday, reaching $19.92. The company had a trading volume of 13,290,147 shares, compared to its average volume of 6,052,831. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.20. First Horizon Corporation has a 52 week low of $14.34 and a 52 week high of $22.44. The company has a 50 day moving average of $19.13 and a 200-day moving average of $19.80. The firm has a market cap of $10.10 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 1.02 and a beta of 0.61.

First Horizon (NYSE:FHN - Get Free Report) last released its 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 business had revenue of $823.69 million during the quarter, compared to analysts' expectations of $825.11 million. During the same quarter last year, the company earned $0.35 earnings per share. On average, sell-side analysts expect that First Horizon Corporation will post 1.67 EPS for the current fiscal year.

First Horizon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $0.15 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.01%. First Horizon's dividend payout ratio is currently 41.67%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group started coverage on shares of First Horizon in a report on Wednesday, May 21st. They issued a "buy" rating and a $25.00 price objective for the company. Royal Bank Of Canada reiterated an "outperform" rating and set a $24.00 price target (up previously from $22.00) on shares of First Horizon in a research note on Monday, June 9th. Citigroup upped their target price on First Horizon from $24.00 to $25.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Wall Street Zen cut First Horizon from a "hold" rating to a "sell" rating in a research report on Sunday. Finally, Robert W. Baird raised First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 target price for the company in a research report on Monday, April 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $22.53.

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.