Leeward Investments LLC MA Sells 55,617 Shares of First Horizon Corporation $FHN

Leeward Investments LLC MA decreased its holdings in shares of First Horizon Corporation (NYSE:FHN) by 3.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,672,242 shares of the financial services provider’s stock after selling 55,617 shares during the quarter. First Horizon comprises approximately 2.0% of Leeward Investments LLC MA’s holdings, making the stock its 2nd biggest holding. Leeward Investments LLC MA owned approximately 0.34% of First Horizon worth $39,967,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in FHN. Atlantic Union Bankshares Corp acquired a new position in shares of First Horizon during the 3rd quarter valued at $25,000. Root Financial Partners LLC purchased a new stake in First Horizon during the 3rd quarter worth $31,000. Kestra Investment Management LLC increased its stake in First Horizon by 873.1% during the 2nd 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 period. Geneos Wealth Management Inc. increased its stake 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 buying an additional 1,095 shares during the period. Finally, TD Waterhouse Canada Inc. increased its stake in First Horizon by 122.3% during the 3rd 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 period. Institutional investors and hedge funds own 80.28% of the company’s stock.

First Horizon Price Performance

FHN opened at $23.73 on Friday. The company has a 50-day moving average of $23.46 and a 200-day moving average of $23.50. The company has a market capitalization of $11.26 billion, a P/E ratio of 11.87, a PEG ratio of 0.92 and a beta of 0.62. First Horizon Corporation has a 1-year low of $19.03 and a 1-year high of $26.56. 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 (NYSE:FHN) last released its earnings results on Wednesday, April 15th. The financial services provider reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.04. The company had revenue of $865.00 million during the quarter, compared to the consensus estimate of $869.49 million. First Horizon had a net margin of 20.54% and a return on equity of 11.65%. The company’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.42 EPS. Equities analysts expect that First Horizon Corporation will post 2.16 EPS for the current fiscal year.

First Horizon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be given a $0.17 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $0.68 annualized dividend and a dividend yield of 2.9%. First Horizon’s payout ratio is presently 34.00%.

Analyst Ratings Changes

Several research firms recently issued reports on FHN. Autonomous Res downgraded shares of First Horizon from a “strong-buy” rating to a “strong sell” rating in a research note on Wednesday, April 29th. Zacks Research downgraded shares of First Horizon from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 20th. Stephens lifted their price target on shares of First Horizon from $28.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. Barclays dropped their price target on shares of First Horizon from $30.00 to $29.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 7th. Finally, National Bank Financial set a $27.00 price target on shares of First Horizon in a research note on Friday, January 16th. Nine equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, First Horizon currently has a consensus rating of “Hold” and an average price target 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.