Maven Securities LTD Invests $893,000 in First Horizon Co. (NYSE:FHN)

Maven Securities LTD acquired a new position in shares of First Horizon Co. (NYSE:FHNGet Rating) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 38,000 shares of the financial services provider’s stock, valued at approximately $893,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. BlackRock Inc. raised its holdings in First Horizon by 3.8% during the fourth quarter. BlackRock Inc. now owns 61,543,301 shares of the financial services provider’s stock worth $1,005,002,000 after purchasing an additional 2,274,413 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in First Horizon by 124.8% during the fourth quarter. JPMorgan Chase & Co. now owns 28,872,551 shares of the financial services provider’s stock worth $471,488,000 after purchasing an additional 16,028,243 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in First Horizon by 126.3% during the first quarter. Bank of New York Mellon Corp now owns 14,759,941 shares of the financial services provider’s stock worth $346,710,000 after purchasing an additional 8,237,557 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in First Horizon by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 11,893,502 shares of the financial services provider’s stock worth $279,380,000 after purchasing an additional 37,979 shares in the last quarter. Finally, Segantii Capital Management Ltd bought a new stake in First Horizon during the first quarter worth approximately $253,190,000. 81.49% of the stock is currently owned by institutional investors and hedge funds.

First Horizon Price Performance

NYSE FHN opened at $23.24 on Friday. The stock has a market capitalization of $12.43 billion, a P/E ratio of 16.14, a P/E/G ratio of 3.00 and a beta of 1.04. First Horizon Co. has a 1 year low of $14.67 and a 1 year high of $24.24. The business’s fifty day moving average is $22.55 and its two-hundred day moving average is $22.58. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.94 and a current ratio of 0.95.

First Horizon (NYSE:FHNGet Rating) last announced its earnings results on Tuesday, July 19th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.01). First Horizon had a net margin of 26.78% and a return on equity of 12.27%. During the same quarter last year, the company earned $0.58 EPS. On average, research analysts forecast that First Horizon Co. will post 1.51 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 9th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Thursday, September 8th. First Horizon’s dividend payout ratio (DPR) is currently 41.67%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Truist Financial boosted their target price on First Horizon to $25.00 in a report on Friday, June 3rd. StockNews.com raised First Horizon from a “sell” rating to a “hold” rating in a report on Friday. Nine investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $22.83.

First Horizon Profile

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

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Institutional Ownership by Quarter for First Horizon (NYSE:FHN)

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