100,000 Shares in First Horizon Corporation $FHN Acquired by PL Capital Advisors LLC

PL Capital Advisors LLC bought a new position in shares of First Horizon Corporation (NYSE:FHN) during the fourth quarter, Holdings Channel.com reports. The fund bought 100,000 shares of the financial services provider’s stock, valued at approximately $2,390,000. First Horizon comprises about 0.8% of PL Capital Advisors LLC’s portfolio, making the stock its 16th biggest holding.

A number of other institutional investors have also made changes to their positions in the business. Thoroughbred Financial Services LLC increased its holdings in shares of First Horizon by 3.4% during the 4th quarter. Thoroughbred Financial Services LLC now owns 14,055 shares of the financial services provider’s stock worth $335,000 after acquiring an additional 457 shares during the last quarter. Aaron Wealth Advisors LLC increased its holdings in shares of First Horizon by 5.4% during the 4th quarter. Aaron Wealth Advisors LLC now owns 9,905 shares of the financial services provider’s stock worth $237,000 after acquiring an additional 511 shares during the last quarter. Sanctuary Advisors LLC increased its holdings in shares of First Horizon by 3.5% during the 4th quarter. Sanctuary Advisors LLC now owns 15,803 shares of the financial services provider’s stock worth $378,000 after acquiring an additional 537 shares during the last quarter. AMG National Trust Bank increased its holdings in shares of First Horizon by 0.6% during the 3rd quarter. AMG National Trust Bank now owns 102,344 shares of the financial services provider’s stock worth $2,314,000 after acquiring an additional 575 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in shares of First Horizon by 57.3% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,743 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 635 shares during the last quarter. 80.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FHN has been the subject of several research reports. Wall Street Zen downgraded shares of First Horizon from a “hold” rating to a “sell” rating in a research report on Monday. Citigroup raised their price objective on shares of First Horizon from $28.00 to $28.50 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. Keefe, Bruyette & Woods raised their price objective on shares of First Horizon from $25.00 to $26.00 and gave the stock a “market perform” rating in a research report on Thursday, April 16th. UBS Group downgraded shares of First Horizon from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $29.00 to $25.00 in a research report on Tuesday, April 7th. Finally, Autonomous Res lowered First Horizon from a “strong-buy” rating to a “strong sell” rating in a report on Wednesday, April 29th. 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $26.45.

First Horizon Stock Performance

Shares of NYSE FHN opened at $24.20 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.96 and a quick ratio of 0.96. The stock’s fifty day moving average price is $23.71 and its two-hundred day moving average price is $23.68. First Horizon Corporation has a one year low of $19.03 and a one year high of $26.56. The firm has a market cap of $11.49 billion, a price-to-earnings ratio of 12.10, a P/E/G ratio of 0.95 and a beta of 0.62.

First Horizon (NYSE:FHN) last issued its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. First Horizon had a return on equity of 11.65% and a net margin of 20.54%.The firm had revenue of $865.00 million for the quarter, compared to analyst estimates of $869.49 million. During the same period in the prior year, the firm posted $0.42 EPS. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, equities analysts forecast that First Horizon Corporation will post 2.16 EPS for the current year.

First Horizon Dividend Announcement

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 issued 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, June 12th. First Horizon’s dividend payout ratio is currently 34.00%.

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.