Caxton Associates LLP Acquires 39,568 Shares of First Horizon Corporation $FHN

Caxton Associates LLP increased its holdings in First Horizon Corporation (NYSE:FHN) by 108.8% in the first quarter, Holdings Channel.com reports. The firm owned 75,952 shares of the financial services provider’s stock after acquiring an additional 39,568 shares during the period. Caxton Associates LLP’s holdings in First Horizon were worth $1,729,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Goldman Sachs Group Inc. lifted its stake in First Horizon by 102.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,709,434 shares of the financial services provider’s stock worth $33,197,000 after purchasing an additional 865,109 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of 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 valued at $35,000 after buying an additional 1,095 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of 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 buying an additional 3,835 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of First Horizon by 9.1% in the 2nd quarter. Federated Hermes Inc. now owns 54,125 shares of the financial services provider’s stock valued at $1,147,000 after acquiring an additional 4,507 shares during the last quarter. Finally, Cerity Partners LLC boosted its holdings in 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 acquiring an additional 26,323 shares during the period. Institutional investors own 80.28% of the company’s stock.

First Horizon Stock Performance

First Horizon stock opened at $25.51 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.15. The firm has a market cap of $12.11 billion, a P/E ratio of 12.20, a P/E/G ratio of 1.01 and a beta of 0.60. First Horizon Corporation has a 1-year low of $19.80 and a 1-year high of $26.56. The firm has a 50-day moving average of $24.94 and a 200-day moving average of $24.32.

First Horizon (NYSE:FHN) last announced its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The company had revenue of $890.00 million for the quarter, compared to the consensus estimate of $878.42 million. First Horizon had a return on equity of 12.06% and a net margin of 21.12%.During the same quarter in the previous year, the business earned $0.45 EPS. Sell-side analysts expect that First Horizon Corporation will post 2.15 EPS for the current year.

First Horizon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Friday, June 12th. First Horizon’s dividend payout ratio (DPR) is currently 32.54%.

Wall Street Analyst Weigh In

FHN has been the topic of several recent research reports. Evercore set a $27.00 price target on First Horizon in a research report on Monday, July 6th. JPMorgan Chase & Co. lowered their price objective on First Horizon from $28.50 to $27.00 and set a “neutral” rating for the company in a research report on Thursday, July 16th. DA Davidson reissued a “neutral” rating and set a $26.00 price objective on shares of First Horizon in a research note on Thursday, April 16th. UBS Group restated a “buy” rating on shares of First Horizon in a report on Thursday, July 16th. Finally, Raymond James Financial lifted their target price on shares of First Horizon from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Nine research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, First Horizon currently has a consensus rating of “Hold” and a consensus target price of $27.16.

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.