23,078 Shares in First Horizon Corporation $FHN Acquired by United Capital Financial Advisors LLC

United Capital Financial Advisors LLC bought a new stake in First Horizon Corporation (NYSE:FHN) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 23,078 shares of the financial services provider’s stock, valued at approximately $592,000.

A number of other large investors have also recently bought and sold shares of FHN. William Blair Investment Management LLC lifted its holdings in 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 valued at $127,531,000 after purchasing an additional 116,191 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of First Horizon by 158.0% during the first quarter. Renaissance Technologies LLC now owns 540,211 shares of the financial services provider’s stock worth $12,295,000 after buying an additional 330,800 shares in the last quarter. Focus Partners Advisor Solutions LLC purchased a new stake in shares of First Horizon during the second quarter worth about $1,616,000. Vise Technologies Inc. acquired a new position in shares of First Horizon in the second quarter valued at approximately $3,327,000. Finally, Diamond Hill Capital Management LLC Investment Advisor purchased a new position in shares of First Horizon during the second quarter valued at approximately $10,061,000. Institutional investors and hedge funds own 80.28% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. UBS Group reaffirmed a “buy” rating on shares of First Horizon in a research note on Thursday, July 16th. Truist Financial raised their price objective on First Horizon from $26.00 to $27.00 and gave the stock a “hold” rating in a report on Friday, July 10th. JPMorgan Chase & Co. lowered their price objective on First Horizon from $28.50 to $27.00 and set a “neutral” rating for the company in a research report on Thursday, July 16th. Fundamental Research set a $28.50 target price on First Horizon in a research note on Wednesday, July 1st. Finally, Raymond James Financial increased their target price on First Horizon from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Nine analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $27.26.

First Horizon Stock Performance

Shares of FHN stock opened at $24.35 on Tuesday. 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 firm has a market capitalization of $11.54 billion, a price-to-earnings ratio of 11.65, a price-to-earnings-growth ratio of 0.98 and a beta of 0.61. First Horizon Corporation has a one year low of $19.80 and a one year high of $26.56. The company has a 50 day moving average price of $25.45 and a 200 day moving average price of $24.44.

First Horizon (NYSE:FHN) last announced its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. First Horizon had a net margin of 21.12% and a return on equity of 12.06%. The company had revenue of $887.00 million for the quarter, compared to analyst estimates of $878.42 million. During the same quarter last year, the business earned $0.45 EPS. Sell-side analysts anticipate that First Horizon Corporation will post 2.15 EPS for the current year.

First Horizon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, September 11th. First Horizon’s dividend payout ratio (DPR) is 32.54%.

Insider Buying and Selling at First Horizon

In related news, EVP Elizabeth A. Ardoin sold 18,313 shares of First Horizon stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $24.85, for a total value of $455,078.05. Following the transaction, the executive vice president owned 340,368 shares in the company, valued at approximately $8,458,144.80. This trade represents a 5.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.91% of the company’s stock.

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.