KBC Group NV Sells 143,633 Shares of First Horizon Corporation (NYSE:FHN)

KBC Group NV decreased its position in shares of First Horizon Corporation (NYSE:FHN) by 86.0% during the first quarter, HoldingsChannel reports. The fund owned 23,328 shares of the financial services provider’s stock after selling 143,633 shares during the quarter. KBC Group NV’s holdings in First Horizon were worth $453,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. increased its position in First Horizon by 160.1% during the fourth quarter. JPMorgan Chase & Co. now owns 5,524,827 shares of the financial services provider’s stock valued at $111,270,000 after acquiring an additional 3,400,811 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in First Horizon by 2.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 77,020 shares of the financial services provider’s stock valued at $1,496,000 after acquiring an additional 1,481 shares during the last quarter. SG Americas Securities LLC increased its position in First Horizon by 286.9% during the first quarter. SG Americas Securities LLC now owns 63,346 shares of the financial services provider’s stock valued at $1,230,000 after acquiring an additional 46,975 shares during the last quarter. LifeWealth Investments LLC bought a new position in First Horizon during the first quarter valued at $256,000. Finally, GAMMA Investing LLC increased its position in First Horizon by 2,658.3% during the first quarter. GAMMA Investing LLC now owns 251,470 shares of the financial services provider’s stock valued at $4,884,000 after acquiring an additional 242,353 shares during the last quarter. Institutional investors own 80.28% of the company’s stock.

First Horizon Stock Performance

FHN stock opened at $21.86 on Friday. The firm has a market cap of $11.09 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 1.13 and a beta of 0.61. The firm has a 50-day simple moving average of $19.90 and a two-hundred day simple moving average of $19.86. First Horizon Corporation has a one year low of $14.34 and a one year high of $22.44. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.95 and a current ratio of 0.96.

First Horizon (NYSE:FHN) last released its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.42 EPS for the quarter, beating the consensus estimate of $0.40 by $0.02. The business had revenue of $823.69 million during the quarter, compared to analyst estimates of $825.11 million. First Horizon had a net margin of 16.13% and a return on equity of 10.33%. During the same period in the prior year, the firm posted $0.35 earnings per share. On average, equities analysts forecast that First Horizon Corporation will post 1.67 EPS for the current fiscal year.

First Horizon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.60 annualized dividend and a dividend yield of 2.74%. First Horizon’s dividend payout ratio (DPR) is currently 41.67%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on FHN shares. Baird R W upgraded shares of First Horizon from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 7th. Robert W. Baird upgraded shares of First Horizon from a “neutral” rating to an “outperform” rating and set a $22.00 price objective on the stock in a research report on Monday, April 7th. Royal Bank Of Canada reissued an “outperform” rating and set a $24.00 target price (up from $22.00) on shares of First Horizon in a research note on Monday, June 9th. Barclays lowered their target price on shares of First Horizon from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company lowered their target price on shares of First Horizon from $22.00 to $20.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.47.

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.