First Horizon Corporation $FHN Shares Purchased by Qsemble Capital Management LP

Qsemble Capital Management LP raised its stake in First Horizon Corporation (NYSE:FHN) by 303.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 451,446 shares of the financial services provider’s stock after buying an additional 339,508 shares during the quarter. First Horizon makes up approximately 0.9% of Qsemble Capital Management LP’s investment portfolio, making the stock its 15th largest position. Qsemble Capital Management LP’s holdings in First Horizon were worth $10,790,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the stock. Aaron Wealth Advisors LLC grew its holdings in First Horizon by 5.4% in the 4th quarter. Aaron Wealth Advisors LLC now owns 9,905 shares of the financial services provider’s stock valued at $237,000 after buying an additional 511 shares in the last quarter. Sanctuary Advisors LLC grew its holdings in First Horizon by 3.5% in the 4th quarter. Sanctuary Advisors LLC now owns 15,803 shares of the financial services provider’s stock valued at $378,000 after buying an additional 537 shares in the last quarter. AMG National Trust Bank grew its holdings in First Horizon by 0.6% in the 3rd quarter. AMG National Trust Bank now owns 102,344 shares of the financial services provider’s stock valued at $2,314,000 after buying an additional 575 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in First Horizon by 57.3% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,743 shares of the financial services provider’s stock valued at $39,000 after buying an additional 635 shares in the last quarter. Finally, Krilogy Financial LLC grew its holdings in First Horizon by 3.9% in the 4th quarter. Krilogy Financial LLC now owns 17,499 shares of the financial services provider’s stock valued at $424,000 after buying an additional 664 shares in the last quarter. 80.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on FHN shares. DA Davidson restated a “neutral” rating and issued a $26.00 target price on shares of First Horizon in a report on Thursday, April 16th. Stephens upped their target price on First Horizon from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, January 16th. TD Cowen increased their price target on First Horizon from $26.00 to $27.00 and gave the stock a “hold” rating in a report on Friday, January 16th. Keefe, Bruyette & Woods increased their price target on First Horizon from $25.00 to $26.00 and gave the stock a “market perform” rating in a report on Thursday, April 16th. Finally, UBS Group cut First Horizon from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $29.00 to $25.00 in a report on Tuesday, April 7th. Nine analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, First Horizon currently has a consensus rating of “Hold” and a consensus price target of $26.45.

First Horizon Price Performance

FHN stock opened at $23.55 on Friday. 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 Corporation has a 1 year low of $19.03 and a 1 year high of $26.56. The firm has a market capitalization of $11.18 billion, a P/E ratio of 11.77, a P/E/G ratio of 0.93 and a beta of 0.62. The business’s 50-day moving average is $23.46 and its two-hundred day moving average is $23.50.

First Horizon (NYSE:FHN) last issued 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. First Horizon had a return on equity of 11.65% and a net margin of 20.54%.The business had revenue of $865.00 million for the quarter, compared to analyst estimates of $869.49 million. During the same quarter last year, the company earned $0.42 EPS. The business’s quarterly revenue was up 6.2% on a year-over-year basis. Analysts anticipate that First Horizon Corporation will post 2.16 earnings per share for the current fiscal year.

First Horizon Announces Dividend

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

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.