New Age Alpha Advisors LLC Decreases Stock Holdings in First Horizon Corporation $FHN

New Age Alpha Advisors LLC decreased its holdings in First Horizon Corporation (NYSE:FHN) by 14.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 280,330 shares of the financial services provider’s stock after selling 45,476 shares during the quarter. New Age Alpha Advisors LLC’s holdings in First Horizon were worth $6,700,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of FHN. Atlantic Union Bankshares Corp purchased a new position in First Horizon in the 3rd quarter worth about $25,000. Root Financial Partners LLC purchased a new position in First Horizon in the 3rd quarter worth about $31,000. Kestra Investment Management LLC raised its position in First Horizon by 873.1% in 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 last quarter. Geneos Wealth Management Inc. raised its position in First Horizon by 156.7% in 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 last quarter. Finally, TD Waterhouse Canada Inc. raised its position in First Horizon by 122.3% in 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 last quarter. Hedge funds and other institutional investors own 80.28% of the company’s stock.

Analysts Set New Price Targets

FHN has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased 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. Keefe, Bruyette & Woods boosted their target price on First Horizon from $25.00 to $26.00 and gave the stock a “market perform” rating in a research report on Thursday, April 16th. Wall Street Zen lowered First Horizon from a “hold” rating to a “sell” rating in a research report on Monday. Wells Fargo & Company boosted their target price on First Horizon from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Monday, March 30th. Finally, Weiss Ratings raised First Horizon from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, April 16th. Nine equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $26.45.

First Horizon Price Performance

NYSE FHN opened at $24.26 on Monday. First Horizon Corporation has a 52 week low of $19.03 and a 52 week high of $26.56. The firm has a market capitalization of $11.51 billion, a P/E ratio of 12.13, a PEG ratio of 0.95 and a beta of 0.62. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average price of $23.57 and a 200-day moving average price of $23.62.

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

First Horizon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders 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 dividend 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.