First Horizon Corporation $FHN Shares Bought by Sei Investments Co.

Sei Investments Co. grew its stake in shares of First Horizon Corporation (NYSE:FHN) by 34.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 661,421 shares of the financial services provider’s stock after acquiring an additional 167,683 shares during the period. Sei Investments Co. owned about 0.14% of First Horizon worth $15,054,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Goldman Sachs Group Inc. increased its position in shares of 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 valued at $33,197,000 after buying an additional 865,109 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in First Horizon by 156.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,794 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 1,095 shares in the last quarter. EverSource Wealth Advisors LLC raised its position 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 worth $174,000 after acquiring an additional 3,835 shares during the last quarter. Federated Hermes Inc. lifted its stake in 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 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% in the second 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 in the last quarter. Institutional investors and hedge funds own 80.28% of the company’s stock.

First Horizon Stock Performance

First Horizon stock opened at $25.45 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 stock has a 50 day moving average of $25.08 and a 200-day moving average of $24.35. The stock has a market cap of $12.08 billion, a P/E ratio of 12.18, a price-to-earnings-growth ratio of 1.02 and a beta of 0.60. First Horizon Corporation has a 52 week low of $19.80 and a 52 week high of $26.56.

First Horizon (NYSE:FHN) last posted its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The firm had revenue of $890.00 million for the quarter, compared to the consensus estimate of $878.42 million. First Horizon had a net margin of 21.12% and a return on equity of 12.06%. During the same period in the prior year, the firm posted $0.45 EPS. On average, analysts expect that First Horizon Corporation will post 2.15 EPS for the current fiscal year.

First Horizon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, September 11th. First Horizon’s dividend payout ratio (DPR) is currently 32.54%.

Analyst Ratings Changes

FHN has been the topic of a number of recent analyst reports. Fundamental Research set a $28.50 price target on First Horizon in a research note on Wednesday, July 1st. National Bank Financial set a $29.00 price target on shares of First Horizon in a report on Thursday, July 16th. Autonomous Res downgraded First Horizon from a “strong-buy” rating to a “strong sell” rating in a research report on Wednesday, April 29th. Keefe, Bruyette & Woods lifted their price objective on First Horizon from $25.00 to $26.00 and gave the company a “market perform” rating in a research note on Thursday, April 16th. Finally, DA Davidson restated a “neutral” rating and issued a $26.00 price target on shares of First Horizon in a report on Thursday, April 16th. Nine investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, First Horizon currently has an average 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.