Coyle Financial Counsel LLC Acquires New Shares in First Horizon Corporation $FHN

Coyle Financial Counsel LLC acquired a new stake in First Horizon Corporation (NYSE:FHN) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 32,143 shares of the financial services provider’s stock, valued at approximately $768,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp lifted its position in First Horizon by 313.2% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 62,164 shares of the financial services provider’s stock worth $1,406,000 after acquiring an additional 47,119 shares during the last quarter. William Blair Investment Management LLC lifted its position 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 acquiring an additional 116,191 shares during the last quarter. Allianz Asset Management GmbH acquired a new position in First Horizon during the 3rd quarter worth $6,416,000. Andrew Hill Investment Advisors Inc. acquired a new position in First Horizon during the 4th quarter worth $7,059,000. Finally, Hudson Bay Capital Management LP acquired a new position in First Horizon during the 3rd quarter worth $13,792,000. Institutional investors and hedge funds own 80.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Autonomous Res lowered shares of First Horizon from a “strong-buy” rating to a “strong sell” rating in a research report on Wednesday, April 29th. Keefe, Bruyette & Woods boosted their target price on shares of First Horizon from $25.00 to $26.00 and gave the stock a “market perform” rating in a research report on Thursday, April 16th. Citigroup boosted their target price on shares of First Horizon from $28.00 to $28.50 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. Barclays cut their target price on shares of First Horizon from $30.00 to $29.00 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. Finally, Weiss Ratings raised shares of First Horizon from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, April 16th. Nine research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, First Horizon presently has an average rating of “Hold” and a consensus target price of $26.45.

First Horizon Stock Performance

NYSE:FHN opened at $24.24 on Friday. The firm’s 50-day moving average is $23.81 and its 200-day moving average is $23.71. First Horizon Corporation has a 52-week low of $19.03 and a 52-week high of $26.56. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market cap of $11.50 billion, a price-to-earnings ratio of 12.12, a PEG ratio of 0.95 and a beta of 0.62.

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

First Horizon Announces Dividend

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

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.