Sculptor Capital LP Trims Stock Position in First Horizon Corporation $FHN

Sculptor Capital LP cut its position in shares of First Horizon Corporation (NYSE:FHN) by 17.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,145,000 shares of the financial services provider’s stock after selling 676,000 shares during the period. First Horizon makes up 0.8% of Sculptor Capital LP’s holdings, making the stock its 29th biggest holding. Sculptor Capital LP owned 0.64% of First Horizon worth $75,166,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of FHN. Kestra Investment Management LLC raised its stake in 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 worth $34,000 after purchasing an additional 1,458 shares during the period. Geneos Wealth Management Inc. raised its stake in 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 worth $35,000 after purchasing an additional 1,095 shares during the period. Cary Street Partners Investment Advisory LLC raised its stake in First Horizon by 1,348.2% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 2,013 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 1,874 shares during the period. Los Angeles Capital Management LLC acquired a new stake in shares of First Horizon during the fourth quarter valued at about $51,000. Finally, Triumph Capital Management purchased a new stake in shares of First Horizon in the 3rd quarter valued at approximately $77,000. 80.28% of the stock is owned by hedge funds and other institutional investors.

First Horizon Trading Down 1.6%

Shares of FHN stock opened at $24.74 on Tuesday. 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 capitalization of $11.74 billion, a P/E ratio of 12.37, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60. The company has a 50 day moving average price of $24.24 and a 200 day moving average price of $23.95. First Horizon Corporation has a fifty-two week low of $19.10 and a fifty-two week high of $26.56.

First Horizon (NYSE:FHN) last announced its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. The firm had revenue of $865.00 million during the quarter, compared to analysts’ expectations of $869.49 million. First Horizon had a net margin of 20.54% and a return on equity of 11.65%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.42 earnings per share. Equities research analysts predict that First Horizon Corporation will post 2.16 EPS for the current fiscal year.

First Horizon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be issued a $0.17 dividend. The ex-dividend date is Friday, June 12th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.7%. First Horizon’s payout ratio is 34.00%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Autonomous Res cut shares of First Horizon from a “strong-buy” rating to a “strong sell” rating in a research report on Wednesday, April 29th. Citigroup upped their price target on First Horizon from $28.00 to $28.50 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. UBS Group cut First Horizon from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $29.00 to $25.00 in a research note on Tuesday, April 7th. Zacks Research downgraded First Horizon from a “strong-buy” rating to a “hold” rating in a report on Friday, March 20th. Finally, Wall Street Zen raised First Horizon from a “sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Nine 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. According to data from MarketBeat, First Horizon has a consensus rating of “Hold” and an average price target of $26.45.

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.