Vise Technologies Inc. Takes Position in First Horizon Corporation $FHN

Vise Technologies Inc. purchased a new position in First Horizon Corporation (NYSE:FHN) during the second quarter, Holdings Channel.com reports. The firm purchased 129,751 shares of the financial services provider’s stock, valued at approximately $3,327,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kestra Investment Management LLC increased its position in First Horizon by 873.1% in the 2nd quarter. Kestra Investment Management LLC now owns 1,625 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 1,458 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of First Horizon by 156.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,794 shares of the financial services provider’s stock valued at $35,000 after buying an additional 1,095 shares during the last quarter. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of First Horizon by 1,348.2% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 2,013 shares of the financial services provider’s stock valued at $48,000 after buying an additional 1,874 shares during the last quarter. Basecamp Wealth Advisors LLC grew its stake in shares of First Horizon by 56.2% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 2,073 shares of the financial services provider’s stock valued at $47,000 after buying an additional 746 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in shares of First Horizon in the 4th quarter valued at approximately $51,000. 80.28% of the stock is currently owned by hedge funds and other institutional investors.

First Horizon Trading Down 0.3%

First Horizon stock opened at $24.60 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.96 and a current ratio of 0.97. The business’s 50-day simple moving average is $25.48 and its 200-day simple moving average is $24.50. The firm has a market capitalization of $11.65 billion, a PE ratio of 11.77, a PEG ratio of 0.98 and a beta of 0.61. First Horizon Corporation has a 52 week low of $19.80 and a 52 week high of $26.56.

First Horizon (NYSE:FHN) last posted its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $0.54 earnings per share for the quarter, beating 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 company had revenue of $887.00 million during the quarter, compared to analysts’ expectations of $878.42 million. During the same period in the prior year, the business earned $0.45 earnings per share. Equities research analysts forecast that First Horizon Corporation will post 2.15 earnings per share for the current year.

First Horizon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be issued a dividend of $0.17 per share. The ex-dividend date is Friday, September 11th. This represents a $0.68 annualized dividend and a dividend yield of 2.8%. First Horizon’s payout ratio is presently 32.54%.

Analyst Ratings Changes

A number of research firms recently commented on FHN. Raymond James Financial increased their price objective on First Horizon from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. National Bank Financial set a $29.00 target price on shares of First Horizon in a research note on Thursday, July 16th. Evercore set a $27.00 target price on shares of First Horizon in a research report on Monday, July 6th. JPMorgan Chase & Co. cut their price target on shares of First Horizon from $28.50 to $27.00 and set a “neutral” rating on the stock in a report on Thursday, July 16th. Finally, Truist Financial lifted their price objective on shares of First Horizon from $26.00 to $27.00 and gave the company a “hold” rating in a research note on Friday, July 10th. Nine equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $27.26.

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.