First Horizon Corporation $FHN Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC grew its stake in shares of First Horizon Corporation (NYSE:FHN) by 285.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 201,330 shares of the financial services provider’s stock after acquiring an additional 149,132 shares during the quarter. Hsbc Holdings PLC’s holdings in First Horizon were worth $4,586,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Stronghold Wealth Management L.L.C. purchased a new stake in First Horizon during the 1st quarter worth approximately $217,000. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of First Horizon in the first quarter valued at about $344,000. Personal CFO Solutions LLC purchased a new position in shares of First Horizon in the first quarter worth about $271,000. Oregon Public Employees Retirement Fund lifted its holdings in shares of First Horizon by 1.7% during the first quarter. Oregon Public Employees Retirement Fund now owns 99,488 shares of the financial services provider’s stock worth $2,264,000 after purchasing an additional 1,650 shares during the period. Finally, Burney Co. purchased a new stake in First Horizon in the first quarter valued at approximately $4,096,000. 80.28% of the stock is currently owned by institutional investors and hedge funds.

First Horizon Trading Down 0.1%

Shares of NYSE:FHN opened at $25.51 on Friday. The business’s 50 day moving average price is $24.94 and its 200-day moving average price is $24.32. First Horizon Corporation has a 1 year low of $19.80 and a 1 year high of $26.56. The firm has a market capitalization of $12.11 billion, a price-to-earnings ratio of 12.20, a price-to-earnings-growth 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.

First Horizon (NYSE:FHN) last issued 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. The company had revenue of $890.00 million during the quarter, compared to analyst estimates of $878.42 million. First Horizon had a net margin of 21.12% and a return on equity of 12.06%. During the same quarter in the previous year, the firm earned $0.45 EPS. On average, equities research analysts forecast that First Horizon Corporation will post 2.15 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th were given a $0.17 dividend. The ex-dividend date 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 32.54%.

Analyst Ratings Changes

Several brokerages recently weighed in on FHN. Weiss Ratings upgraded shares of First Horizon from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 8th. UBS Group restated a “buy” rating on shares of First Horizon in a research note on Thursday, July 16th. Evercore set a $27.00 price objective on shares of First Horizon in a report on Monday, July 6th. Keefe, Bruyette & Woods increased their price objective on shares of First Horizon from $25.00 to $26.00 and gave the stock a “market perform” rating in a research note on Thursday, April 16th. Finally, JPMorgan Chase & Co. reduced their target price on shares of First Horizon from $28.50 to $27.00 and set a “neutral” rating for the company in a report on Thursday, July 16th. Nine analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average 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.