TMB Capital Partners LLC Takes $553,000 Position in First Horizon Corporation $FHN

TMB Capital Partners LLC bought a new position in First Horizon Corporation (NYSE:FHN) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 23,132 shares of the financial services provider’s stock, valued at approximately $553,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its holdings in First Horizon by 102.5% in 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 buying an additional 865,109 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings 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 purchasing an additional 1,095 shares during the period. EverSource Wealth Advisors LLC grew its holdings in First Horizon by 88.1% during the second quarter. EverSource Wealth Advisors LLC now owns 8,189 shares of the financial services provider’s stock valued at $174,000 after purchasing an additional 3,835 shares during the period. Federated Hermes Inc. increased its position in First Horizon by 9.1% in the second quarter. Federated Hermes Inc. now owns 54,125 shares of the financial services provider’s stock worth $1,147,000 after buying an additional 4,507 shares in the last quarter. Finally, Cerity Partners LLC lifted its position in shares of First Horizon by 20.8% during the 2nd quarter. Cerity Partners LLC now owns 152,878 shares of the financial services provider’s stock valued at $3,241,000 after buying an additional 26,323 shares in the last quarter. 80.28% of the stock is owned by institutional investors.

First Horizon Trading Up 0.3%

Shares of NYSE FHN opened at $24.80 on Friday. First Horizon Corporation has a 1-year low of $19.57 and a 1-year 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 0.96. The business’s 50 day moving average is $24.33 and its two-hundred day moving average is $24.00. The stock has a market capitalization of $11.77 billion, a P/E ratio of 12.40, a PEG ratio of 0.97 and a beta of 0.60.

First Horizon (NYSE:FHN) last announced its earnings results 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 analysts’ expectations of $869.49 million. First Horizon had a return on equity of 11.65% and a net margin of 20.54%.The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.42 EPS. As a group, research analysts expect that First Horizon Corporation will post 2.16 EPS for the current year.

First Horizon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Friday, June 12th. First Horizon’s dividend payout ratio (DPR) is 34.00%.

Analysts Set New Price Targets

FHN has been the subject of several recent analyst reports. Autonomous Res downgraded First Horizon from a “strong-buy” rating to a “strong sell” rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. dropped their price objective on shares of First Horizon from $28.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, April 1st. Keefe, Bruyette & Woods lifted their target price on First Horizon from $25.00 to $26.00 and gave the stock a “market perform” rating in a report on Thursday, April 16th. Zacks Research downgraded First Horizon from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 20th. Finally, Wall Street Zen raised First Horizon from a “sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. 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, the stock has a consensus rating of “Hold” and a consensus target price of $26.45.

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.