WINTON GROUP Ltd lifted its holdings in First Horizon Corporation (NYSE:FHN – Free Report) by 649.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 302,249 shares of the financial services provider’s stock after buying an additional 261,928 shares during the quarter. WINTON GROUP Ltd owned approximately 0.06% of First Horizon worth $7,224,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vise Technologies Inc. raised its holdings in shares of First Horizon by 506.3% in the fourth quarter. Vise Technologies Inc. now owns 117,328 shares of the financial services provider’s stock worth $2,804,000 after buying an additional 97,976 shares during the period. Cibc World Market Inc. raised its holdings in shares of First Horizon by 42.9% in the fourth quarter. Cibc World Market Inc. now owns 20,756 shares of the financial services provider’s stock worth $496,000 after buying an additional 6,230 shares during the period. Norges Bank purchased a new stake in shares of First Horizon in the fourth quarter worth approximately $153,942,000. Coyle Financial Counsel LLC purchased a new stake in shares of First Horizon in the fourth quarter worth approximately $768,000. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in shares of First Horizon in the fourth quarter worth approximately $486,000. 80.28% of the stock is currently owned by hedge funds and other institutional investors.
First Horizon Stock Down 0.3%
Shares of NYSE FHN opened at $24.19 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $11.48 billion, a PE ratio of 12.09, a price-to-earnings-growth ratio of 0.95 and a beta of 0.60. The stock’s fifty day simple moving average is $23.98 and its two-hundred day simple moving average is $23.79. First Horizon Corporation has a 12-month low of $19.03 and a 12-month high of $26.56.
First Horizon Dividend Announcement
The business also recently announced 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 of this dividend is Friday, June 12th. First Horizon’s dividend payout ratio (DPR) is 34.00%.
Analysts Set New Price Targets
Several research analysts recently issued reports on FHN shares. JPMorgan Chase & Co. dropped their price objective on First Horizon from $28.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 1st. Zacks Research cut First Horizon from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 20th. DA Davidson reissued a “neutral” rating and issued a $26.00 price objective on shares of First Horizon in a research note on Thursday, April 16th. Wells Fargo & Company increased their price objective 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. Finally, Wall Street Zen raised First Horizon from a “sell” rating to a “hold” rating in a research note on Tuesday. Nine research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $26.45.
Read Our Latest Research Report on First Horizon
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.
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