First Horizon Corporation (NYSE:FHN) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. grew its holdings in First Horizon Corporation (NYSE:FHN - Free Report) by 17.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 3,190,189 shares of the financial services provider's stock after acquiring an additional 483,144 shares during the quarter. Victory Capital Management Inc. owned about 0.62% of First Horizon worth $61,953,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Byrne Asset Management LLC boosted its position in shares of First Horizon by 115.3% in the 1st quarter. Byrne Asset Management LLC now owns 1,550 shares of the financial services provider's stock worth $30,000 after buying an additional 830 shares in the last quarter. Lee Danner & Bass Inc. purchased a new position in First Horizon during the fourth quarter worth $50,000. Farther Finance Advisors LLC grew 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. Golden State Wealth Management LLC grew its position in shares of First Horizon by 53,160.0% in the first quarter. Golden State Wealth Management LLC now owns 2,663 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 2,658 shares during the period. Finally, Versant Capital Management Inc grew its position in shares of First Horizon by 137.5% in the first 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 and hedge funds.

First Horizon Price Performance

Shares of NYSE FHN traded down $0.03 during mid-day trading on Monday, hitting $22.34. 5,043,434 shares of the company's stock traded hands, compared to its average volume of 5,957,098. The company's 50-day moving average is $20.56 and its two-hundred day moving average is $19.99. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.96 and a quick ratio of 0.95. The company has a market capitalization of $11.33 billion, a P/E ratio of 14.42, a PEG ratio of 1.06 and a beta of 0.61. First Horizon Corporation has a 1 year low of $14.34 and a 1 year high of $22.64.

First Horizon (NYSE:FHN - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $0.45 earnings per share for the quarter, topping analysts' consensus estimates of $0.41 by $0.04. First Horizon had a net margin of 17.10% and a return on equity of 10.55%. The firm had revenue of $830.19 million for the quarter, compared to analyst estimates of $832.95 million. During the same quarter in the prior year, the business earned $0.36 earnings per share. On average, equities analysts anticipate that First Horizon Corporation will post 1.67 EPS for the current fiscal year.

First Horizon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.69%. The ex-dividend date was Friday, June 13th. First Horizon's dividend payout ratio (DPR) is presently 38.71%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Robert W. Baird upgraded 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. Raymond James Financial reiterated an "outperform" rating and set a $24.00 price target (up from $20.00) on shares of First Horizon in a research report on Tuesday, July 8th. Truist Financial lifted their price target on First Horizon from $21.00 to $23.00 and gave the company a "hold" rating in a research report on Friday, July 11th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $24.00 price target (up previously from $22.00) on shares of First Horizon in a research report on Monday, June 9th. Finally, Baird R W raised First Horizon from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Seven 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 MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $23.28.

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.