UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $326.44 Million Stock Holdings in First Horizon Corporation $FHN

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its stake in shares of First Horizon Corporation (NYSE:FHN) by 10.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 12,731,777 shares of the financial services provider’s stock after selling 1,553,047 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in First Horizon were worth $326,443,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its holdings in First Horizon by 102.5% during 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 purchasing an additional 865,109 shares during the last quarter. Geneos Wealth Management Inc. grew 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 valued at $35,000 after buying an additional 1,095 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in First Horizon by 88.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,189 shares of the financial services provider’s stock worth $174,000 after buying an additional 3,835 shares during the period. Federated Hermes Inc. lifted its holdings in shares of First Horizon by 9.1% during 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 holdings in shares of First Horizon by 20.8% during the second quarter. Cerity Partners LLC now owns 152,878 shares of the financial services provider’s stock worth $3,241,000 after buying an additional 26,323 shares in the last quarter. 80.28% of the stock is owned by institutional investors.

Insider Transactions at First Horizon

In other First Horizon news, EVP Elizabeth A. Ardoin sold 18,313 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $24.85, for a total transaction of $455,078.05. Following the completion of the transaction, the executive vice president directly owned 340,368 shares in the company, valued at $8,458,144.80. The trade was a 5.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.91% of the stock is owned by company insiders.

First Horizon Trading Down 1.2%

FHN opened at $24.35 on Tuesday. The stock has a market capitalization of $11.54 billion, a price-to-earnings ratio of 11.65, a P/E/G ratio of 0.98 and a beta of 0.61. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.15. First Horizon Corporation has a twelve month low of $19.80 and a twelve month high of $26.56. The company has a 50-day simple moving average of $25.45 and a 200 day simple moving average of $24.44.

First Horizon (NYSE:FHN) last released its earnings results on Wednesday, July 15th. The financial services provider reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. The firm had revenue of $887.00 million for the quarter, compared to analyst estimates 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 last year, the firm earned $0.45 EPS. Analysts predict that First Horizon Corporation will post 2.15 EPS for the current fiscal year.

First Horizon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Friday, September 11th. First Horizon’s dividend payout ratio (DPR) is 32.54%.

Analyst Upgrades and Downgrades

FHN has been the topic of several research reports. Fundamental Research set a $28.50 price target on shares of First Horizon in a research note on Wednesday, July 1st. Weiss Ratings upgraded shares of First Horizon from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 8th. Wells Fargo & Company began coverage on shares of First Horizon in a report on Monday, August 10th. They set an “equal weight” rating and a $28.00 target price on the stock. Evercore set a $27.00 price target on shares of First Horizon in a research report on Monday, July 6th. Finally, Truist Financial boosted their price target on First Horizon from $26.00 to $27.00 and gave the company a “hold” rating in a research note on Friday, July 10th. Nine equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $27.26.

First Horizon 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.