Thu Sep 19 08:19:56 UTC 2024: ## Dimensional Fund Advisors Increases Stake in First Horizon Bank, Other Hedge Funds Follow Suit
**MEMPHIS, TN – September 19, 2024** – Dimensional Fund Advisors LP significantly increased its stake in First Horizon Co. (NYSE: FHN) during the second quarter, according to a recent 13F filing with the Securities and Exchange Commission. The firm now owns over 15 million shares of the financial services provider, representing a 2.84% ownership stake worth approximately $244 million.
This move comes as several other hedge funds have also adjusted their holdings in First Horizon. Janney Montgomery Scott LLC grew its position in the fourth quarter, while Norges Bank acquired a new stake in the company during the same period. Clearbridge Investments LLC also increased its holdings, and both Quest Partners LLC and WBI Investments LLC acquired new positions in the fourth quarter.
First Horizon’s stock opened at $15.76 on Thursday, with a market capitalization of $8.62 billion. The company boasts a strong financial standing, with a low debt-to-equity ratio and positive liquidity ratios. The company recently declared a quarterly dividend of $0.15 per share, representing a 3.81% annualized yield.
Research analysts remain optimistic about First Horizon’s future, with a consensus rating of “Moderate Buy” and an average price target of $17.38. Several analysts have raised their price targets on the stock in recent months.
First Horizon Corporation operates through its subsidiary, First Horizon Bank, offering a range of financial services to individuals, businesses, financial institutions, and government entities. The company operates through two segments: Regional Banking and Specialty Banking.
The growing interest from hedge funds and positive analyst sentiment suggest a promising outlook for First Horizon, further solidifying its position as a leading player in the financial services industry.
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