Benjamin Edwards Inc. Takes Position in First Horizon Corporation $FHN

Benjamin Edwards Inc. acquired a new position in First Horizon Corporation (NYSE:FHN) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 33,207 shares of the financial services provider’s stock, valued at approximately $794,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Goldman Sachs Group Inc. raised its stake in First Horizon by 102.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,709,434 shares of the financial services provider’s stock valued at $33,197,000 after purchasing an additional 865,109 shares during the last quarter. Geneos Wealth Management Inc. grew its position in First Horizon by 156.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,794 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 1,095 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of First Horizon by 88.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,189 shares of the financial services provider’s stock worth $174,000 after purchasing an additional 3,835 shares during the period. Federated Hermes Inc. raised its position in shares of First Horizon by 9.1% during the second quarter. Federated Hermes Inc. now owns 54,125 shares of the financial services provider’s stock valued at $1,147,000 after buying an additional 4,507 shares during the last quarter. Finally, Cerity Partners LLC raised its position in shares of First Horizon by 20.8% during the second quarter. Cerity Partners LLC now owns 152,878 shares of the financial services provider’s stock valued at $3,241,000 after buying an additional 26,323 shares during the last quarter. Institutional investors own 80.28% of the company’s stock.

First Horizon Trading Up 0.6%

NYSE:FHN opened at $24.62 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.15. First Horizon Corporation has a 1-year low of $19.03 and a 1-year high of $26.56. The firm has a market capitalization of $11.76 billion, a price-to-earnings ratio of 12.31, a PEG ratio of 0.96 and a beta of 0.62. The business’s 50-day moving average price is $23.48 and its two-hundred day moving average price is $23.39.

First Horizon (NYSE:FHN) last announced its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. The company had revenue of $865.00 million during the quarter, compared to analysts’ expectations of $869.49 million. First Horizon had a return on equity of 11.65% and a net margin of 20.54%.First Horizon’s revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 EPS. On average, equities analysts expect that First Horizon Corporation will post 2.16 earnings per share for the current year.

First Horizon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, June 12th. First Horizon’s dividend payout ratio (DPR) is currently 34.00%.

Analysts Set New Price Targets

Several brokerages recently issued reports on FHN. TD Cowen boosted their price target on First Horizon from $26.00 to $27.00 and gave the company a “hold” rating in a research note on Friday, January 16th. Keefe, Bruyette & Woods raised their price objective on First Horizon from $25.00 to $26.00 and gave the stock a “market perform” rating in a research report on Thursday, April 16th. Truist Financial set a $27.00 price objective on First Horizon in a report on Friday, January 9th. JPMorgan Chase & Co. lowered their price objective on First Horizon from $28.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 1st. Finally, Barclays cut their target price on First Horizon from $30.00 to $29.00 and set an “overweight” rating for the company in a research note on Tuesday, April 7th. Nine investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $26.45.

About First Horizon

First Horizon Corporation, headquartered in Memphis, Tennessee, is a diversified financial services company providing an array of retail, commercial and wealth management solutions. As the largest bank-based financial services firm in Tennessee, First Horizon operates through a network of branches and digital platforms across the Southeastern United States, offering personal and business banking, mortgage origination and servicing, payment solutions and treasury management services.

Tracing its origins to the First National Bank of Memphis established in 1864, First Horizon has grown through strategic acquisitions and organic expansion to serve customers in Tennessee, Texas, North Carolina, South Carolina, Georgia and Florida.