Here’s Why First Horizon Corporation (FHN) Rose in Q4
Scout Investments, Inc, an affiliate of Carillon Tower Advisers, Inc., released the “Carillon Scout Mid Cap Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The market advance dominated by large-cap tech stocks broadened out, so mid-and small-cap companies outperformed their large-cap counterparts. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Carillon Scout Mid Cap Fund featured stocks like First Horizon Corporation (NYSE:FHN) in the fourth quarter 2023 investor letter. Headquartered in Memphis, Tennessee, First Horizon Corporation (NYSE:FHN) is the bank holding company for First Horizon Bank. On March 22, 2024, First Horizon Corporation (NYSE:FHN) stock closed at $14.97 per share. One-month return of First Horizon Corporation (NYSE:FHN) was 7.85%, and its shares lost 13.27% of their value over the last 52 weeks. First Horizon Corporation (NYSE:FHN) has a market capitalization of $8.308 billion.
Carillon Scout Mid Cap Fund stated the following regarding First Horizon Corporation (NYSE:FHN) in its fourth quarter 2023 investor letter:
"First Horizon Corporation (NYSE:FHN) was the third-largest contributor. This bank holding company rose as the industry rallied due to the investor sentiment shift toward a soft economic landing or continued growth. A soft economic landing, should it occur, means that banks are likely to experience fewer loan losses than in a recession and steadier interest rate margins if extreme interest rate volatility is dampened."
An experienced banker offering financial advice to a young couple.
First Horizon Corporation (NYSE:FHN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, First Horizon Corporation (NYSE:FHN) was held by 50 hedge fund portfolios, compared to 48 in the previous quarter, according to our database.
We discussed First Horizon Corporation (NYSE:FHN) in another article and shared the list of most undervalued bank stocks to buy. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
Disclosure: None. This article is originally published at Insider Monkey.
