William Blair Investment Management LLC grew its holdings in shares of First Horizon Corporation (NYSE:FHN – Free Report) by 2.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,336,021 shares of the financial services provider’s stock after purchasing an additional 116,191 shares during the quarter. William Blair Investment Management LLC’s holdings in First Horizon were worth $127,531,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in FHN. Atlantic Union Bankshares Corp purchased a new position in shares of First Horizon in the 3rd quarter worth $25,000. Root Financial Partners LLC acquired a new stake in First Horizon in the 3rd quarter valued at $31,000. Kestra Investment Management LLC grew its stake in shares of First Horizon by 873.1% during the second quarter. Kestra Investment Management LLC now owns 1,625 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 1,458 shares in the last quarter. TD Waterhouse Canada Inc. grew its stake in shares of First Horizon by 122.3% during the third quarter. TD Waterhouse Canada Inc. now owns 1,636 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 900 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in shares of First Horizon by 57.3% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,743 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 635 shares in the last quarter. Hedge funds and other institutional investors own 80.28% of the company’s stock.
First Horizon Trading Up 0.7%
NYSE FHN opened at $24.26 on Friday. First Horizon Corporation has a twelve month low of $19.03 and a twelve month high of $26.56. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market cap of $11.51 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 0.95 and a beta of 0.62. The firm’s 50 day moving average price is $23.57 and its two-hundred day moving average price is $23.61.
First Horizon Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.8%. The ex-dividend date is Friday, June 12th. First Horizon’s payout ratio is presently 34.00%.
Wall Street Analyst Weigh In
FHN has been the subject of a number of research reports. Wells Fargo & Company lifted their price target on First Horizon from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Monday, March 30th. Wall Street Zen raised First Horizon from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Barclays reduced their price objective on First Horizon from $30.00 to $29.00 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. Weiss Ratings raised First Horizon from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, April 16th. Finally, DA Davidson reissued a “neutral” rating and set a $26.00 target price on shares of First Horizon in a report on Thursday, April 16th. Nine equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $26.45.
Check Out Our Latest Report on First Horizon
About First Horizon
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.
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