First Horizon Corporation $FHN Shares Sold by Leeward Investments LLC MA

Leeward Investments LLC MA cut its stake in shares of First Horizon Corporation (NYSE:FHN) by 41.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 978,868 shares of the financial services provider’s stock after selling 693,374 shares during the period. First Horizon makes up about 1.1% of Leeward Investments LLC MA’s holdings, making the stock its 22nd biggest position. Leeward Investments LLC MA owned 0.20% of First Horizon worth $22,279,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Krilogy Financial LLC raised its holdings in First Horizon by 5.4% during the 1st quarter. Krilogy Financial LLC now owns 18,443 shares of the financial services provider’s stock worth $442,000 after buying an additional 944 shares during the period. Evolve Private Wealth LLC lifted its stake in First Horizon by 18.9% during the first quarter. Evolve Private Wealth LLC now owns 17,159 shares of the financial services provider’s stock valued at $391,000 after buying an additional 2,733 shares in the last quarter. Park National Corp OH acquired a new position in shares of First Horizon in the first quarter worth about $334,000. Nalls Sherbakoff Group LLC acquired a new position in shares of First Horizon in the fourth quarter worth about $359,000. Finally, Corient Private Wealth LLC increased its position in shares of First Horizon by 4.5% in the fourth quarter. Corient Private Wealth LLC now owns 126,862 shares of the financial services provider’s stock worth $3,032,000 after acquiring an additional 5,511 shares in the last quarter. 80.28% of the stock is owned by hedge funds and other institutional investors.

First Horizon Stock Performance

Shares of FHN opened at $25.00 on Wednesday. The company has a market capitalization of $11.87 billion, a PE ratio of 12.50, a PEG ratio of 0.97 and a beta of 0.60. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.96 and a current ratio of 0.96. The company’s 50 day moving average price is $24.37 and its 200 day moving average price is $24.05. First Horizon Corporation has a 52 week low of $19.80 and a 52 week 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, beating analysts’ consensus estimates of $0.49 by $0.04. First Horizon had a net margin of 20.54% and a return on equity of 11.65%. The company had revenue of $865.00 million during the quarter, compared to analyst estimates of $869.49 million. During the same quarter last year, the business posted $0.42 EPS. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. Research analysts expect that First Horizon Corporation will post 2.16 EPS for the current fiscal year.

First Horizon Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on FHN shares. Zacks Research lowered shares of First Horizon from a “strong-buy” rating to a “hold” rating in a report on Friday, March 20th. DA Davidson reiterated a “neutral” rating and set a $26.00 price objective on shares of First Horizon in a research report on Thursday, April 16th. Weiss Ratings raised shares of First Horizon from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 8th. Wells Fargo & Company increased their target price on First Horizon from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Monday, March 30th. Finally, Autonomous Res cut First Horizon from a “strong-buy” rating to a “strong sell” rating in a research report on Wednesday, April 29th. Nine investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $26.45.

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.