Quantbot Technologies LP Buys Shares of 106,339 First Horizon Corporation $FHN

Quantbot Technologies LP purchased a new position in First Horizon Corporation (NYSE:FHN) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 106,339 shares of the financial services provider’s stock, valued at approximately $2,727,000.

A number of other hedge funds also recently modified their holdings of the business. William Blair Investment Management LLC raised its holdings in First Horizon by 2.2% during the 4th quarter. William Blair Investment Management LLC now owns 5,336,021 shares of the financial services provider’s stock worth $127,531,000 after buying an additional 116,191 shares during the period. Renaissance Technologies LLC lifted its stake in First Horizon by 158.0% in the first quarter. Renaissance Technologies LLC now owns 540,211 shares of the financial services provider’s stock valued at $12,295,000 after buying an additional 330,800 shares in the last quarter. Focus Partners Advisor Solutions LLC acquired a new position in shares of First Horizon in the second quarter valued at approximately $1,616,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of First Horizon in the second quarter valued at approximately $10,061,000. Finally, Qsemble Capital Management LP increased its position in shares of First Horizon by 303.3% during the fourth quarter. Qsemble Capital Management LP now owns 451,446 shares of the financial services provider’s stock worth $10,790,000 after acquiring an additional 339,508 shares in the last quarter. Institutional investors and hedge funds own 80.28% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Evercore set a $27.00 price objective on shares of First Horizon in a report on Monday, July 6th. 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. Fundamental Research set a $28.50 price target on First Horizon in a research note on Wednesday, July 1st. Autonomous Res lowered First Horizon from a “strong-buy” rating to a “strong sell” rating in a report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. cut their price target on First Horizon from $28.50 to $27.00 and set a “neutral” rating on the stock in a report on Thursday, July 16th. Nine investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $27.26.

First Horizon Stock Down 0.1%

Shares of FHN stock opened at $24.60 on Monday. The firm’s fifty day moving average price is $25.48 and its two-hundred day moving average price is $24.50. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.15. 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 $11.65 billion, a P/E ratio of 11.77, a PEG ratio of 0.98 and a beta of 0.61.

First Horizon (NYSE:FHN) last posted its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The company had revenue of $887.00 million during the quarter, compared to the consensus estimate of $878.42 million. First Horizon had a net margin of 21.12% and a return on equity of 12.06%. During the same period in the prior year, the business posted $0.45 EPS. On average, equities analysts predict that First Horizon Corporation will post 2.15 EPS for the current fiscal year.

First Horizon Dividend Announcement

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

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.