WINTON GROUP Ltd Buys 261,928 Shares of First Horizon Corporation $FHN

WINTON GROUP Ltd raised its stake in shares of First Horizon Corporation (NYSE:FHN) by 649.6% during the 4th quarter, Holdings Channel reports. The fund owned 302,249 shares of the financial services provider’s stock after purchasing an additional 261,928 shares during the period. WINTON GROUP Ltd’s holdings in First Horizon were worth $7,224,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Invesco Ltd. boosted its position in shares of First Horizon by 8.5% in the 3rd quarter. Invesco Ltd. now owns 7,606,808 shares of the financial services provider’s stock worth $171,990,000 after purchasing an additional 595,869 shares in the last quarter. Norges Bank acquired a new stake in shares of First Horizon in the 4th quarter worth $153,942,000. William Blair Investment Management LLC boosted its position in shares of First Horizon by 2.2% in the 4th quarter. William Blair Investment Management LLC now owns 5,336,021 shares of the financial services provider’s stock worth $127,531,000 after purchasing an additional 116,191 shares in the last quarter. Freestone Grove Partners LP boosted its position in shares of First Horizon by 25.3% in the 3rd quarter. Freestone Grove Partners LP now owns 4,788,438 shares of the financial services provider’s stock worth $108,267,000 after purchasing an additional 967,219 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of First Horizon by 28.4% in the 4th quarter. Principal Financial Group Inc. now owns 3,849,088 shares of the financial services provider’s stock worth $91,993,000 after purchasing an additional 852,109 shares in the last quarter. Institutional investors and hedge funds own 80.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on FHN shares. Barclays lowered their price objective on First Horizon from $30.00 to $29.00 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. JPMorgan Chase & Co. lowered their price objective on First Horizon from $28.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, April 1st. Wall Street Zen raised First Horizon from a “sell” rating to a “hold” rating in a research report on Tuesday. Zacks Research cut First Horizon from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 20th. Finally, Wells Fargo & Company raised their price objective on First Horizon from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Monday, March 30th. 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 stock. Based on data from MarketBeat.com, First Horizon presently has a consensus rating of “Hold” and a consensus price target of $26.45.

First Horizon Stock Performance

Shares of FHN stock opened at $24.19 on Friday. The firm has a market capitalization of $11.48 billion, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 0.95 and a beta of 0.60. 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 business has a fifty day moving average of $23.98 and a 200 day moving average of $23.79. First Horizon Corporation has a 1 year low of $19.03 and a 1 year high of $26.56.

First Horizon (NYSE:FHN) last issued its earnings results on Wednesday, April 15th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. The company had revenue of $865.00 million during the quarter, compared to analyst estimates of $869.49 million. First Horizon had a return on equity of 11.65% and a net margin of 20.54%.The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the business posted $0.42 EPS. As a group, research analysts expect that First Horizon Corporation will post 2.16 earnings per share for the current 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. The ex-dividend date is Friday, June 12th. This represents a $0.68 dividend on an annualized basis and a yield of 2.8%. First Horizon’s dividend payout ratio (DPR) is 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.