MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $2.13 Million Holdings in First Horizon Co. (NYSE:FHN)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of First Horizon Co. (NYSE:FHN - Free Report) by 15.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 105,928 shares of the financial services provider's stock after buying an additional 14,105 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in First Horizon were worth $2,133,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its holdings in First Horizon by 26.2% during the fourth 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 buying an additional 7,715,191 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of First Horizon by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 19,869,403 shares of the financial services provider's stock valued at $400,173,000 after acquiring an additional 97,429 shares in the last quarter. Norges Bank purchased a new stake in shares of First Horizon in the 4th quarter valued at approximately $132,418,000. JPMorgan Chase & Co. lifted its position in shares of First Horizon by 160.1% in the 4th quarter. JPMorgan Chase & Co. now owns 5,524,827 shares of the financial services provider's stock valued at $111,270,000 after acquiring an additional 3,400,811 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of First Horizon in the 4th quarter valued at approximately $102,467,000. 80.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FHN has been the subject of several research analyst reports. Robert W. Baird upgraded shares of First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 price target for the company in a research report on Monday, April 7th. Truist Financial initiated coverage on shares of First Horizon in a research report on Tuesday, May 13th. They issued a "hold" rating and a $21.00 price target for the company. Wall Street Zen upgraded shares of First Horizon from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Raymond James reduced their price target on shares of First Horizon from $23.00 to $22.00 and set an "outperform" rating for the company in a research report on Wednesday, April 2nd. Finally, Jefferies Financial Group began coverage on shares of First Horizon in a research report on Wednesday, May 21st. They issued a "buy" rating and a $25.00 target price for the company. 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $22.41.

First Horizon Stock Up 2.0%

Shares of First Horizon stock traded up $0.40 during midday trading on Tuesday, reaching $20.17. 5,216,572 shares of the company's stock traded hands, compared to its average volume of 6,186,061. The company has a market cap of $10.23 billion, a price-to-earnings ratio of 14.83, a price-to-earnings-growth ratio of 1.19 and a beta of 0.59. The company's 50 day simple moving average is $18.54 and its 200 day simple moving average is $19.89. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96. First Horizon Co. has a 52 week low of $14.09 and a 52 week high of $22.44.

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 for the quarter, beating analysts' consensus estimates of $0.40 by $0.02. The business had revenue of $823.69 million for the quarter, compared to the consensus estimate of $825.11 million. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. During the same quarter last year, the firm earned $0.35 EPS. Equities analysts expect that First Horizon Co. will post 1.67 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.97%. 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.