Knights of Columbus Asset Advisors LLC Has $9.72 Million Position in First Horizon Corporation $FHN

Knights of Columbus Asset Advisors LLC lifted its stake in shares of First Horizon Corporation (NYSE:FHN) by 43.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 406,711 shares of the financial services provider’s stock after acquiring an additional 123,261 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in First Horizon were worth $9,720,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Atlantic Union Bankshares Corp acquired a new position in First Horizon during the third quarter worth $25,000. Root Financial Partners LLC acquired a new position in First Horizon during the third quarter worth $31,000. Kestra Investment Management LLC raised its holdings in First Horizon by 873.1% during the second quarter. Kestra Investment Management LLC now owns 1,625 shares of the financial services provider’s stock worth $34,000 after buying an additional 1,458 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in First Horizon by 156.7% during the first quarter. Geneos Wealth Management Inc. now owns 1,794 shares of the financial services provider’s stock worth $35,000 after buying an additional 1,095 shares during the last quarter. Finally, TD Waterhouse Canada Inc. raised its holdings in First Horizon by 122.3% during the third quarter. TD Waterhouse Canada Inc. now owns 1,636 shares of the financial services provider’s stock worth $37,000 after buying an additional 900 shares during the last quarter. Institutional investors and hedge funds own 80.28% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on FHN shares. Barclays lowered their price objective on shares of First Horizon from $30.00 to $29.00 and set an “overweight” rating on the stock in a report on Tuesday, April 7th. Wells Fargo & Company upped their price objective on shares of First Horizon from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Monday, March 30th. Wall Street Zen downgraded shares of First Horizon from a “hold” rating to a “sell” rating in a report on Monday. Weiss Ratings upgraded shares of First Horizon from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, April 16th. Finally, Citigroup upped their price objective on shares of First Horizon from $28.00 to $28.50 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Nine analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $26.45.

First Horizon Price Performance

FHN opened at $24.37 on Wednesday. The firm has a market cap of $11.57 billion, a P/E ratio of 12.19, a PEG ratio of 0.95 and a beta of 0.62. The firm has a 50-day moving average of $23.66 and a 200 day moving average of $23.66. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.96 and a current ratio of 0.96. First Horizon Corporation has a fifty-two week low of $19.03 and a fifty-two week high of $26.56.

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

First Horizon Announces Dividend

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

First Horizon Company Profile

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.