Oppenheimer & Co. Inc. Acquires 27,814 Shares of First Horizon Corporation (NYSE:FHN)

Oppenheimer & Co. Inc. raised its stake in shares of First Horizon Corporation (NYSE:FHN - Free Report) by 180.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,214 shares of the financial services provider's stock after buying an additional 27,814 shares during the period. Oppenheimer & Co. Inc.'s holdings in First Horizon were worth $839,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Jones Financial Companies Lllp bought a new position in First Horizon in the 4th quarter worth $30,000. Byrne Asset Management LLC increased its stake 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 worth $30,000 after purchasing an additional 830 shares during the period. Lee Danner & Bass Inc. acquired a new position in shares of First Horizon during the 4th quarter worth about $50,000. Farther Finance Advisors LLC lifted its position in shares of First Horizon by 29.9% during the 4th quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider's stock worth $52,000 after purchasing an additional 591 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in First Horizon by 137.5% during the 1st quarter. Versant Capital Management Inc now owns 3,411 shares of the financial services provider's stock valued at $66,000 after purchasing an additional 1,975 shares during the period. 80.28% of the stock is owned by institutional investors.

First Horizon Trading Up 0.8%

Shares of FHN opened at $21.08 on Monday. The stock has a 50 day simple moving average of $19.47 and a 200-day simple moving average of $19.80. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.20. The stock has a market cap of $10.69 billion, a PE ratio of 14.64, a PEG ratio of 1.07 and a beta of 0.61. First Horizon Corporation has a 1 year low of $14.34 and a 1 year high of $22.44.

First Horizon (NYSE:FHN - Get Free Report) last released 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 firm had revenue of $823.69 million during the quarter, compared to analyst estimates 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 prior year, the company posted $0.35 earnings per share. On average, sell-side analysts predict that First Horizon Corporation will post 1.67 EPS for the current fiscal year.

First Horizon Dividend Announcement

The firm 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 of this dividend is Friday, June 13th. This represents a $0.60 annualized dividend and a yield of 2.85%. First Horizon's payout ratio is 41.67%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Royal Bank Of Canada reissued an "outperform" rating and issued a $24.00 price objective (up from $22.00) on shares of First Horizon in a research report on Monday, June 9th. Wall Street Zen downgraded shares of First Horizon from a "hold" rating to a "sell" rating in a report on Sunday, June 22nd. Bank of America raised their price target on shares of First Horizon from $23.00 to $24.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Jefferies Financial Group began coverage on shares of First Horizon in a research report on Wednesday, May 21st. They set a "buy" rating and a $25.00 price objective for the company. Finally, Wells Fargo & Company decreased their target price on First Horizon from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $22.53.

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.

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