First Horizon Declares $0.15 Dividend

First Horizon Corp said on January 24, 2023 that its board of directors declared a regular quarterly dividend of $0.15 per share ($0.60 annualized). Shareholders of record as of March 16, 2023 will receive the payment on April 3, 2023. Previously, the company paid $0.15 per share.

At the most recent share price of $24.67 / share, the stock’s dividend yield was 2.43%. Additionally, the company’s dividend payout ratio is 0.36, indicating it is retaining a low percentage of its earnings to reinvest in growth opportunities.

The company’s 3-Year dividend growth rate is 0.07%, demonstrating that it has increased its dividend over time.

Analyst Price Forecast Suggests 2.77% Upside

As of January 30, 2023, the average one-year price target for First Horizon Corp is $25.35. The forecasts range from a low of $24.24 to a high of $26.25. The average price target represents an increase of 2.77% from its latest reported closing price of $24.67.

The projected annual revenue for First Horizon Corp is $3,456MM, an increase of 11.02%. The projected annual EPS is $1.98, an increase of 22.06%.

Fund Sentiment

There are 1008 funds or institutions reporting positions in First Horizon Corp. This is a decrease of 15 owner(s) or 1.47%.

Average portfolio weight of all funds dedicated to US:FHN is 0.4086%, a decrease of 0.3400%. Total shares owned by institutions decreased in the last three months by 3.24% to 480,558K shares.

What are large shareholders doing?

Barclays holds 17,440,846 shares representing 3.25% ownership of the company. In it’s prior filing, the firm reported owning 18,007,294 shares, representing a decrease of 3.25%. The firm increased its portfolio allocation in FHN by 81.03% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 16,033,302 shares representing 2.99% ownership of the company. In it’s prior filing, the firm reported owning 15,748,204 shares, representing an increase of 1.78%. The firm increased its portfolio allocation in FHN by 11.17% over the last quarter.

IJH – iShares Core S&P Mid-Cap ETF holds 15,680,914 shares representing 2.92% ownership of the company. In it’s prior filing, the firm reported owning 15,355,076 shares, representing an increase of 2.08%. The firm increased its portfolio allocation in FHN by 7.51% over the last quarter.

NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 13,624,189 shares representing 2.54% ownership of the company. In it’s prior filing, the firm reported owning 13,508,795 shares, representing an increase of 0.85%. The firm increased its portfolio allocation in FHN by 10.17% over the last quarter.

Fuller & Thaler Asset Management holds 11,358,468 shares representing 2.12% ownership of the company. In it’s prior filing, the firm reported owning 11,415,887 shares, representing a decrease of 0.51%. The firm increased its portfolio allocation in FHN by 9.00% over the last quarter.

First Horizon Background Information
(This description is provided by the company.)

First Horizon Corp., with $84 billion in assets, is a leading regional financial services company, dedicated to strengthening the lives of its associates, clients, shareholders, and communities. Headquartered in Memphis, TN, the banking subsidiary First Horizon Bank operates nearly 500 bank locations in 12 states across the Southeast.

This article originally appeared on Fintel