WINTON GROUP Ltd Invests $912,000 in First Horizon Corporation $FHN

WINTON GROUP Ltd purchased a new stake in First Horizon Corporation (NYSE:FHN) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 40,321 shares of the financial services provider’s stock, valued at approximately $912,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. lifted its position in First Horizon by 11.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 303,682 shares of the financial services provider’s stock worth $6,866,000 after acquiring an additional 32,325 shares during the period. Jefferies Financial Group Inc. acquired a new position in shares of First Horizon in the third quarter valued at approximately $565,000. Natixis Advisors LLC raised its stake in shares of First Horizon by 2.0% during the third quarter. Natixis Advisors LLC now owns 432,434 shares of the financial services provider’s stock worth $9,777,000 after purchasing an additional 8,516 shares during the last quarter. Barclays PLC raised its stake in shares of First Horizon by 370.5% during the third quarter. Barclays PLC now owns 2,216,410 shares of the financial services provider’s stock worth $50,113,000 after purchasing an additional 1,745,296 shares during the last quarter. Finally, Orion Porfolio Solutions LLC lifted its holdings in shares of First Horizon by 6.2% during the third quarter. Orion Porfolio Solutions LLC now owns 59,287 shares of the financial services provider’s stock worth $1,340,000 after purchasing an additional 3,436 shares during the period. 80.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Citigroup lifted their price objective on shares of First Horizon from $28.00 to $28.50 and gave the company a “buy” rating in a research report on Tuesday, February 24th. Wall Street Zen upgraded shares of First Horizon from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Truist Financial set a $27.00 target price on shares of First Horizon in a report on Friday, January 9th. UBS Group reiterated a “buy” rating and set a $29.00 price target on shares of First Horizon in a research note on Wednesday, February 4th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of First Horizon in a report on Tuesday, December 16th. They set a “buy” rating and a $28.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $26.66.

First Horizon Price Performance

First Horizon stock traded down $0.20 during midday trading on Friday, reaching $21.97. The company’s stock had a trading volume of 659,333 shares, compared to its average volume of 6,508,174. First Horizon Corporation has a fifty-two week low of $15.19 and a fifty-two week high of $26.56. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.96. The stock’s 50 day simple moving average is $24.38 and its 200 day simple moving average is $23.11. The firm has a market capitalization of $10.62 billion, a PE ratio of 11.67, a P/E/G ratio of 0.85 and a beta of 0.61.

First Horizon (NYSE:FHN) last posted its quarterly earnings results on Thursday, January 15th. The financial services provider reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.06. The business had revenue of $892.00 million for the quarter, compared to analysts’ expectations of $863.87 million. First Horizon had a net margin of 19.67% and a return on equity of 11.21%. During the same period in the prior year, the company posted $0.43 EPS. On average, equities research analysts forecast that First Horizon Corporation will post 1.67 earnings per share for the current year.

First Horizon Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, March 13th. This is an increase from First Horizon’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 3.1%. First Horizon’s dividend payout ratio (DPR) is currently 31.91%.

Insiders Place Their Bets

In other First Horizon news, EVP Anthony J. Restel sold 5,719 shares of the stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $24.35, for a total value of $139,257.65. Following the completion of the transaction, the executive vice president directly owned 619,132 shares of the company’s stock, valued at approximately $15,075,864.20. This trade represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.87% 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.