Huber Capital Management LLC Has $16.51 Million Stake in First Horizon Corporation $FHN

Huber Capital Management LLC lifted its position in shares of First Horizon Corporation (NYSE:FHN) by 12.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 690,768 shares of the financial services provider’s stock after acquiring an additional 77,600 shares during the quarter. First Horizon makes up approximately 2.4% of Huber Capital Management LLC’s portfolio, making the stock its 15th biggest position. Huber Capital Management LLC owned 0.14% of First Horizon worth $16,509,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of FHN. Goldman Sachs Group Inc. raised its position 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 worth $33,197,000 after purchasing an additional 865,109 shares during the last quarter. Geneos Wealth Management Inc. raised its position in First Horizon by 156.7% during 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 raised its position in 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 last quarter. Federated Hermes Inc. raised its position in First Horizon by 9.1% during the 2nd quarter. Federated Hermes Inc. now owns 54,125 shares of the financial services provider’s stock worth $1,147,000 after purchasing an additional 4,507 shares during the last quarter. Finally, Cerity Partners LLC raised its position in First Horizon by 20.8% during the 2nd quarter. Cerity Partners LLC now owns 152,878 shares of the financial services provider’s stock worth $3,241,000 after purchasing an additional 26,323 shares during the last quarter. Institutional investors and hedge funds own 80.28% of the company’s stock.

First Horizon Stock Performance

Shares of First Horizon stock opened at $25.14 on Friday. First Horizon Corporation has a one year low of $19.03 and a one year high of $26.56. The firm has a market capitalization of $11.93 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 0.98 and a beta of 0.60. The business has a 50-day simple moving average of $24.21 and a 200 day simple moving average of $23.91. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.96 and a quick ratio of 0.96.

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

First Horizon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, June 12th. First Horizon’s payout ratio is currently 34.00%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Weiss Ratings raised First Horizon from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 8th. JPMorgan Chase & Co. lowered their target price on First Horizon from $28.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, April 1st. Barclays lowered their target price on First Horizon from $30.00 to $29.00 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. Zacks Research lowered shares of First Horizon from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 20th. Finally, UBS Group lowered shares of First Horizon from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $29.00 to $25.00 in a research note on Tuesday, April 7th. Nine equities research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $26.45.

First Horizon 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.