Bank of America Corp DE Has $47.72 Million Holdings in First Horizon Co. (NYSE:FHN)

Bank of America Corp DE lessened its position in shares of First Horizon Co. (NYSE:FHN) by 12.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,369,466 shares of the financial services provider’s stock after selling 326,073 shares during the quarter. Bank of America Corp DE owned approximately 0.45% of First Horizon worth $47,721,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp acquired a new stake in shares of First Horizon during the 4th quarter worth approximately $30,000. Kentucky Trust Co bought a new position in shares of First Horizon during the 4th quarter worth approximately $32,000. Lee Danner & Bass Inc. bought a new position in shares of First Horizon during the 4th quarter worth approximately $50,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of First Horizon by 335.6% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider’s stock worth $52,000 after buying an additional 2,000 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in shares of First Horizon by 29.9% during the 4th quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider’s stock worth $52,000 after buying an additional 591 shares during the period. Institutional investors and hedge funds own 80.28% of the company’s stock.

First Horizon Trading Up 0.8%

FHN stock opened at $20.37 on Thursday. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. First Horizon Co. has a twelve month low of $14.09 and a twelve month high of $22.44. The business has a fifty day moving average of $18.31 and a 200-day moving average of $19.75. The company has a market cap of $10.33 billion, a P/E ratio of 14.98, a PEG ratio of 1.19 and a beta of 0.59.

First Horizon (NYSE:FHN) last posted its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. The business had revenue of $823.69 million during the quarter, compared to the consensus estimate of $825.11 million. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. During the same period last year, the company earned $0.35 earnings per share. As a group, equities research analysts expect that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, June 13th. This represents a $0.60 annualized dividend and a yield of 2.95%. First Horizon’s dividend payout ratio (DPR) is presently 41.67%.

Analyst Ratings Changes

Several equities analysts recently commented on FHN shares. StockNews.com upgraded First Horizon from a “sell” rating to a “hold” rating in a research report on Monday. Truist Financial started coverage on First Horizon in a research report on Tuesday. They set a “hold” rating and a $21.00 target price for the company. Citigroup raised their target price on First Horizon from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Robert W. Baird upgraded First Horizon from a “neutral” rating to an “outperform” rating and set a $22.00 target price for the company in a research report on Monday, April 7th. Finally, Wells Fargo & Company cut their target price on First Horizon from $22.00 to $20.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 9th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, First Horizon currently has an average rating of “Moderate Buy” and an average target price of $21.97.

About First Horizon

First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial services. The company operates through Regional Banking and Specialty Banking segments. It offers general banking services for consumers, businesses, financial institutions, and governments.