61,588 Shares in First Horizon Corporation $FHN Purchased by iSAM Funds UK Ltd

iSAM Funds UK Ltd purchased a new position in shares of First Horizon Corporation (NYSE:FHN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 61,588 shares of the financial services provider’s stock, valued at approximately $1,393,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of First Horizon by 313.2% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 62,164 shares of the financial services provider’s stock worth $1,406,000 after acquiring an additional 47,119 shares during the period. First Horizon Corp bought a new stake in First Horizon in the 3rd quarter valued at $2,361,000. Allianz Asset Management GmbH bought a new stake in First Horizon in the 3rd quarter valued at $6,416,000. Voya Investment Management LLC lifted its holdings in First Horizon by 301.4% during the 3rd quarter. Voya Investment Management LLC now owns 229,860 shares of the financial services provider’s stock valued at $5,197,000 after purchasing an additional 172,599 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in First Horizon during the 3rd quarter valued at $1,211,000. Institutional investors own 80.28% of the company’s stock.

First Horizon Stock Down 2.0%

FHN stock opened at $21.73 on Friday. First Horizon Corporation has a fifty-two week low of $15.19 and a fifty-two week high of $26.56. 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 stock has a market capitalization of $10.50 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 0.84 and a beta of 0.61. The business’s fifty day moving average price is $24.34 and its two-hundred day moving average price is $23.11.

First Horizon (NYSE:FHN) last announced its earnings results on Thursday, January 15th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.06. First Horizon had a net margin of 19.67% and a return on equity of 11.21%. The company had revenue of $892.00 million during the quarter, compared to analysts’ expectations of $863.87 million. During the same quarter in the previous year, the business posted $0.43 earnings per share. On average, equities analysts anticipate that First Horizon Corporation will post 1.67 earnings per share for the current year.

First Horizon Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be paid a $0.17 dividend. This is a positive change from First Horizon’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, March 13th. This represents a $0.68 annualized dividend and a yield of 3.1%. First Horizon’s dividend payout ratio is presently 31.91%.

Insider Transactions at First Horizon

In other First Horizon news, EVP Anthony J. Restel sold 5,719 shares of the business’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $24.35, for a total value of $139,257.65. Following the completion of the sale, the executive vice president owned 619,132 shares of the company’s stock, valued at $15,075,864.20. The trade was a 0.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.87% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have commented on FHN shares. DA Davidson upped their price objective on shares of First Horizon from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, January 16th. Wall Street Zen upgraded shares of First Horizon from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Stephens lifted their target price on shares of First Horizon from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. Weiss Ratings upgraded shares of First Horizon from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. Finally, Robert W. Baird cut shares of First Horizon from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $26.66.

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.