WINTON GROUP Ltd Invests $912,000 in First Horizon Corporation $FHN

WINTON GROUP Ltd bought a new stake in First Horizon Corporation (NYSE:FHN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 40,321 shares of the financial services provider’s stock, valued at approximately $912,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FHN. Navigoe LLC purchased a new stake in First Horizon during the 3rd quarter worth about $25,000. Atlantic Union Bankshares Corp purchased a new position in shares of First Horizon in the 3rd quarter valued at about $25,000. Root Financial Partners LLC acquired a new stake in shares of First Horizon during the 3rd quarter worth about $31,000. Kestra Investment Management LLC raised its position in shares of 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 acquiring an additional 1,458 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in First Horizon by 156.7% during the first 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 last quarter. 80.28% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Anthony J. Restel sold 5,719 shares of the stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $24.35, for a total transaction of $139,257.65. Following the completion of the sale, the executive vice president owned 619,132 shares in the company, valued at $15,075,864.20. This represents a 0.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.87% of the stock is currently owned by corporate insiders.

First Horizon Stock Performance

FHN traded down $0.20 during trading on Friday, hitting $21.97. 659,333 shares of the stock were exchanged, compared to its average volume of 6,508,174. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.15. First Horizon Corporation has a 1-year low of $15.19 and a 1-year high of $26.56. The stock has a fifty day moving average price of $24.38 and a two-hundred day moving average price of $23.11. The firm has a market capitalization of $10.62 billion, a P/E ratio of 11.67, a PEG ratio of 0.85 and a beta of 0.61.

First Horizon (NYSE:FHN) last issued its quarterly earnings data on Thursday, January 15th. The financial services provider reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.06. The company had revenue of $892.00 million during the quarter, compared to analysts’ expectations of $863.87 million. First Horizon had a return on equity of 11.21% and a net margin of 19.67%.During the same quarter in the previous year, the business earned $0.43 earnings per share. As a group, sell-side analysts predict that First Horizon Corporation will post 1.67 earnings per share for the current year.

First Horizon Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be given 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 payout ratio is currently 31.91%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Weiss Ratings raised First Horizon from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. The Goldman Sachs Group set a $27.00 price objective on shares of First Horizon and gave the stock a “neutral” rating in a report on Tuesday, January 6th. UBS Group restated a “buy” rating and set a $29.00 price objective on shares of First Horizon in a research report on Wednesday, February 4th. Truist Financial set a $27.00 target price on shares of First Horizon in a report on Friday, January 9th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $28.00 price target on shares of First Horizon in a research note on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, First Horizon currently has an average rating of “Moderate Buy” and a consensus target price of $26.66.

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.