Interval Partners LP Has $28.33 Million Position in First Horizon Corporation $FHN

Interval Partners LP increased its holdings in shares of First Horizon Corporation (NYSE:FHN) by 3.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,185,340 shares of the financial services provider’s stock after acquiring an additional 39,164 shares during the period. Interval Partners LP’s holdings in First Horizon were worth $28,330,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in FHN. Norges Bank acquired a new stake in shares of First Horizon during the 4th quarter valued at about $153,942,000. Artemis Investment Management LLP bought a new stake in shares of First Horizon in the 4th quarter valued at approximately $90,319,000. Jupiter Asset Management Ltd. bought a new stake in shares of First Horizon in the 3rd quarter valued at approximately $49,180,000. Cullen Capital Management LLC grew its stake in shares of First Horizon by 3,401.0% in the 4th quarter. Cullen Capital Management LLC now owns 2,030,457 shares of the financial services provider’s stock valued at $48,528,000 after purchasing an additional 1,972,461 shares during the period. Finally, HRT Financial LP bought a new stake in shares of First Horizon in the 4th quarter valued at approximately $42,600,000. 80.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FHN has been the topic of several analyst reports. Autonomous Res lowered First Horizon from a “strong-buy” rating to a “strong sell” rating in a research note on Wednesday, April 29th. Wall Street Zen upgraded First Horizon from a “sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Wells Fargo & Company upped their price objective on First Horizon from $23.00 to $25.00 and gave the company an “equal weight” rating in a research note on Monday, March 30th. Zacks Research lowered First Horizon from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 20th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of First Horizon from $25.00 to $26.00 and gave the company a “market perform” rating in a research report on Thursday, April 16th. Nine research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $26.45.

First Horizon Price Performance

NYSE:FHN opened at $24.67 on Thursday. The firm has a market cap of $11.71 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 0.97 and a beta of 0.60. First Horizon Corporation has a 12 month low of $19.18 and a 12 month high of $26.56. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average price is $24.30 and its two-hundred day moving average price is $23.98.

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

First Horizon Dividend Announcement

The company 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 $0.17 dividend. The ex-dividend date 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 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.