Sculptor Capital LP Increases Position in First Horizon Corporation $FHN

Sculptor Capital LP raised its position in shares of First Horizon Corporation (NYSE:FHN) by 4.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,300,000 shares of the financial services provider’s stock after buying an additional 155,000 shares during the period. Sculptor Capital LP owned about 0.70% of First Horizon worth $75,108,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Norges Bank purchased a new position in First Horizon during the 4th quarter valued at about $153,942,000. Artemis Investment Management LLP acquired a new position in shares of First Horizon in the fourth quarter valued at approximately $90,319,000. North Reef Capital Management LP increased its stake in First Horizon by 25.5% during the 1st quarter. North Reef Capital Management LP now owns 14,453,208 shares of the financial services provider’s stock worth $328,955,000 after buying an additional 2,936,368 shares during the period. Cullen Capital Management LLC lifted its holdings in First Horizon by 3,401.0% during the 4th quarter. Cullen Capital Management LLC now owns 2,030,457 shares of the financial services provider’s stock worth $48,528,000 after buying an additional 1,972,461 shares in the last quarter. Finally, HRT Financial LP purchased a new position in First Horizon in the 4th quarter valued at approximately $42,600,000. 80.28% of the stock is owned by institutional investors and hedge funds.

First Horizon Stock Down 0.1%

First Horizon stock opened at $25.51 on Monday. The stock has a market cap of $12.11 billion, a PE ratio of 12.20, a P/E/G ratio of 1.01 and a beta of 0.60. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.97 and a quick ratio of 0.96. The stock’s fifty day moving average is $24.94 and its two-hundred day moving average is $24.32. First Horizon Corporation has a 1-year low of $19.80 and a 1-year high of $26.56.

First Horizon (NYSE:FHN) last released its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.02. First Horizon had a return on equity of 12.06% and a net margin of 21.12%.The business had revenue of $890.00 million during the quarter, compared to analysts’ expectations of $878.42 million. During the same period in the prior year, the firm posted $0.45 EPS. On average, sell-side analysts expect that First Horizon Corporation will post 2.15 EPS for the current fiscal year.

First Horizon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.7%. The ex-dividend date was Friday, June 12th. First Horizon’s dividend payout ratio is currently 32.54%.

Wall Street Analyst Weigh In

Several equities analysts have commented on FHN shares. Barclays dropped their price target on shares of First Horizon from $30.00 to $29.00 and set an “overweight” rating for the company in a research note on Tuesday, April 7th. Autonomous Res downgraded First Horizon from a “strong-buy” rating to a “strong sell” rating in a report on Wednesday, April 29th. Truist Financial increased their price target on First Horizon from $26.00 to $27.00 and gave the company a “hold” rating in a research report on Friday, July 10th. Evercore set a $27.00 price objective on First Horizon in a research report on Monday, July 6th. Finally, Raymond James Financial raised their target price on shares of First Horizon from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Nine equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, First Horizon has an average rating of “Hold” and a consensus price target of $27.16.

First Horizon Company 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.