First Horizon Corporation $FHN Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP decreased its position in First Horizon Corporation (NYSE:FHN) by 5.1% during the first quarter, Holdings Channel reports. The firm owned 15,594,725 shares of the financial services provider’s stock after selling 830,517 shares during the quarter. Dimensional Fund Advisors LP’s holdings in First Horizon were worth $354,916,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in FHN. Bessemer Group Inc. boosted its position in shares of First Horizon by 0.3% during the first quarter. Bessemer Group Inc. now owns 138,920 shares of the financial services provider’s stock worth $3,162,000 after buying an additional 425 shares during the period. Thoroughbred Financial Services LLC raised its holdings in shares of First Horizon by 3.4% in the 4th quarter. Thoroughbred Financial Services LLC now owns 14,055 shares of the financial services provider’s stock valued at $335,000 after buying an additional 457 shares during the period. Illinois Municipal Retirement Fund lifted its stake in First Horizon by 0.7% during the 4th quarter. Illinois Municipal Retirement Fund now owns 68,661 shares of the financial services provider’s stock worth $1,641,000 after acquiring an additional 489 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in First Horizon by 1.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 40,296 shares of the financial services provider’s stock worth $963,000 after acquiring an additional 507 shares in the last quarter. Finally, Aaron Wealth Advisors LLC lifted its stake in 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 in the last quarter. 80.28% of the stock is currently owned by institutional investors and hedge funds.

First Horizon Trading Up 0.0%

Shares of First Horizon stock opened at $25.48 on Wednesday. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $24.82 and a 200-day simple moving average of $24.29. The stock has a market cap of $12.09 billion, a price-to-earnings ratio of 12.19, a PEG ratio of 1.01 and a beta of 0.60. First Horizon Corporation has a 12-month low of $19.80 and a 12-month high of $26.56.

First Horizon (NYSE:FHN) last announced its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.52 by $0.02. First Horizon had a net margin of 21.12% and a return on equity of 12.06%. The firm had revenue of $890.00 million for the quarter, compared to analyst estimates of $878.42 million. During the same period last year, the business earned $0.45 EPS. On average, equities analysts forecast that First Horizon Corporation will post 2.15 EPS for the current fiscal year.

First Horizon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $0.68 annualized dividend and a dividend yield of 2.7%. First Horizon’s dividend payout ratio (DPR) is presently 32.54%.

Analysts Set New Price Targets

FHN has been the subject of a number of research analyst reports. Truist Financial raised their target price on First Horizon from $26.00 to $27.00 and gave the company a “hold” rating in a report on Friday, July 10th. Wells Fargo & Company boosted their price target on shares of First Horizon from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Monday, July 6th. National Bank Financial set a $29.00 price target on shares of First Horizon in a research report on Thursday, July 16th. Keefe, Bruyette & Woods raised their price objective on shares of First Horizon from $25.00 to $26.00 and gave the company a “market perform” rating in a research note on Thursday, April 16th. Finally, UBS Group restated a “buy” rating on shares of First Horizon in a report on Thursday, July 16th. Nine research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $27.16.

About First Horizon

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.