Huber Capital Management LLC Buys 77,600 Shares of First Horizon Corporation $FHN

Huber Capital Management LLC grew its stake in shares of First Horizon Corporation (NYSE:FHN) by 12.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 690,768 shares of the financial services provider’s stock after purchasing an additional 77,600 shares during the period. First Horizon comprises about 2.4% of Huber Capital Management LLC’s investment portfolio, making the stock its 15th largest holding. Huber Capital Management LLC’s holdings in First Horizon were worth $16,509,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Kestra Investment Management LLC boosted its stake in shares of First Horizon by 873.1% in the 2nd quarter. Kestra Investment Management LLC now owns 1,625 shares of the financial services provider’s stock worth $34,000 after buying an additional 1,458 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of 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 worth $35,000 after buying an additional 1,095 shares during the last quarter. Cary Street Partners Investment Advisory LLC boosted its stake in shares of First Horizon by 1,348.2% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 2,013 shares of the financial services provider’s stock worth $48,000 after buying an additional 1,874 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of First Horizon in the 4th quarter worth approximately $51,000. Finally, Bessemer Group Inc. boosted its stake in shares of First Horizon by 51.5% in the 3rd quarter. Bessemer Group Inc. now owns 3,243 shares of the financial services provider’s stock worth $74,000 after buying an additional 1,103 shares during the last quarter. 80.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FHN. Keefe, Bruyette & Woods boosted their target price on First Horizon from $25.00 to $26.00 and gave the stock a “market perform” rating in a research note on Thursday, April 16th. UBS Group downgraded First Horizon from a “buy” rating to a “neutral” rating and cut their target price for the stock from $29.00 to $25.00 in a research note on Tuesday, April 7th. Barclays cut their target price on First Horizon from $30.00 to $29.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 7th. Wells Fargo & Company boosted their target price 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, Autonomous Res downgraded First Horizon from a “strong-buy” rating to a “strong sell” rating in a research note on Wednesday, April 29th. Nine research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, First Horizon currently has a consensus rating of “Hold” and a consensus target price of $26.45.

First Horizon Trading Up 0.6%

First Horizon stock opened at $25.14 on Friday. The stock has a market cap of $11.93 billion, a P/E ratio of 12.57, a PEG ratio of 0.98 and a beta of 0.60. First Horizon Corporation has a fifty-two week low of $19.03 and a fifty-two week high of $26.56. The firm’s fifty day moving average price is $24.21 and its 200-day moving average price is $23.91. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.96 and a current ratio of 0.96.

First Horizon (NYSE:FHN) last released its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.04. The firm had revenue of $865.00 million for 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.42 earnings per share. Equities research analysts forecast that First Horizon Corporation will post 2.16 earnings per share for the current fiscal year.

First Horizon Announces Dividend

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

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.