First Horizon Corporation $FHN Position Reduced by Leeward Investments LLC MA

Leeward Investments LLC MA trimmed its position in shares of First Horizon Corporation (NYSE:FHN) by 3.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,775,903 shares of the financial services provider’s stock after selling 55,841 shares during the quarter. First Horizon makes up 2.0% of Leeward Investments LLC MA’s portfolio, making the stock its 3rd biggest holding. Leeward Investments LLC MA owned 0.35% of First Horizon worth $37,649,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. boosted its position 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 in the last quarter. Compass Financial Services Inc acquired a new position in shares of First Horizon in the first quarter worth $38,000. Quarry LP raised its holdings in shares of First Horizon by 129.2% in the first quarter. Quarry LP now owns 2,205 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 1,243 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in shares of First Horizon by 53,160.0% in the first quarter. Golden State Wealth Management LLC now owns 2,663 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 2,658 shares during the last quarter. Finally, FNY Investment Advisers LLC raised its holdings in shares of First Horizon by 782.8% in the second quarter. FNY Investment Advisers LLC now owns 2,560 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 2,270 shares during the last quarter. 80.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on FHN. Raymond James Financial set a $23.00 price target on First Horizon in a report on Wednesday, October 15th. TD Cowen began coverage on First Horizon in a report on Thursday, September 25th. They issued a “hold” rating and a $25.00 price target for the company. DA Davidson reiterated a “neutral” rating and issued a $24.00 target price on shares of First Horizon in a research note on Thursday, October 16th. JPMorgan Chase & Co. dropped their target price on First Horizon from $25.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, October 16th. Finally, Wall Street Zen upgraded First Horizon from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $24.47.

Insider Buying and Selling

In related news, EVP David T. Popwell sold 100,000 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $22.50, for a total value of $2,250,000.00. Following the completion of the transaction, the executive vice president owned 462,581 shares of the company’s stock, valued at approximately $10,408,072.50. This represents a 17.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.87% of the company’s stock.

First Horizon Stock Performance

Shares of NYSE:FHN opened at $20.88 on Friday. First Horizon Corporation has a 12 month low of $15.19 and a 12 month high of $23.70. The business has a 50-day moving average of $22.27 and a two-hundred day moving average of $20.90. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.96 and a quick ratio of 0.95. The firm has a market capitalization of $10.60 billion, a PE ratio of 12.65, a P/E/G ratio of 0.84 and a beta of 0.67.

First Horizon (NYSE:FHN) last issued its earnings results on Wednesday, October 15th. The financial services provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.06. First Horizon had a return on equity of 11.03% and a net margin of 18.08%.The company had revenue of $849.00 million during the quarter, compared to the consensus estimate of $848.08 million. During the same quarter in the prior year, the business earned $0.42 earnings per share. The company’s revenue was up 7.4% compared to the same quarter last year. As a group, research analysts forecast that First Horizon Corporation will post 1.67 earnings per share for the current year.

First Horizon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 12th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $0.60 dividend on an annualized basis and a yield of 2.9%. First Horizon’s dividend payout ratio is currently 36.36%.

About First Horizon

First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial services. The company operates through Regional Banking and Specialty Banking segments. It offers general banking services for consumers, businesses, financial institutions, and governments.