EverSource Wealth Advisors LLC Grows Position in First Horizon Corporation $FHN

EverSource Wealth Advisors LLC raised its stake in shares of First Horizon Corporation (NYSE:FHN) by 796.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 74,262 shares of the financial services provider’s stock after purchasing an additional 65,978 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in First Horizon were worth $1,775,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Aaron Wealth Advisors LLC boosted its holdings in shares of First Horizon by 5.4% in the 4th quarter. Aaron Wealth Advisors LLC now owns 9,905 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 511 shares during the last quarter. Sanctuary Advisors LLC increased its holdings in shares of First Horizon by 3.5% during the 4th quarter. Sanctuary Advisors LLC now owns 15,803 shares of the financial services provider’s stock worth $378,000 after buying an additional 537 shares during the last quarter. AMG National Trust Bank raised its position in shares of First Horizon by 0.6% in the 3rd quarter. AMG National Trust Bank now owns 102,344 shares of the financial services provider’s stock worth $2,314,000 after buying an additional 575 shares during the period. Whittier Trust Co. of Nevada Inc. raised its position in shares of First Horizon by 57.3% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,743 shares of the financial services provider’s stock worth $39,000 after buying an additional 635 shares during the period. Finally, Krilogy Financial LLC boosted its holdings in First Horizon by 3.9% in the fourth quarter. Krilogy Financial LLC now owns 17,499 shares of the financial services provider’s stock valued at $424,000 after acquiring an additional 664 shares during the last quarter. Hedge funds and other institutional investors own 80.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FHN. JPMorgan Chase & Co. lowered their price target on First Horizon from $28.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, April 1st. Zacks Research downgraded First Horizon from a “strong-buy” rating to a “hold” rating in a report on Friday, March 20th. Weiss Ratings raised First Horizon from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, April 16th. Keefe, Bruyette & Woods boosted their target price on First Horizon from $25.00 to $26.00 and gave the stock a “market perform” rating in a report on Thursday, April 16th. Finally, UBS Group downgraded shares of First Horizon from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $29.00 to $25.00 in a research report on Tuesday, April 7th. Nine analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.45.

First Horizon Trading Up 0.7%

Shares of FHN stock opened at $24.26 on Friday. The stock has a market cap of $11.51 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 0.95 and a beta of 0.62. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.15. First Horizon Corporation has a fifty-two week low of $19.03 and a fifty-two week high of $26.56. The firm’s 50 day moving average price is $23.57 and its two-hundred day moving average price is $23.61.

First Horizon (NYSE:FHN) last announced its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. The firm had revenue of $865.00 million for the quarter, compared to analysts’ expectations of $869.49 million. First Horizon had a net margin of 20.54% and a return on equity of 11.65%. First Horizon’s revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 earnings per share. On average, analysts anticipate that First Horizon Corporation will post 2.16 EPS for the current year.

First Horizon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Friday, June 12th. First Horizon’s payout ratio is 34.00%.

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.