First Horizon Advisors Inc. Has $2.04 Million Stock Holdings in First Horizon Co. (NYSE:FHN)

First Horizon Advisors Inc. trimmed its position in First Horizon Co. (NYSE:FHN) by 25.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 144,070 shares of the financial services provider’s stock after selling 50,313 shares during the quarter. First Horizon Advisors Inc.’s holdings in First Horizon were worth $2,040,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Macroview Investment Management LLC acquired a new position in First Horizon during the 3rd quarter valued at $25,000. Byrne Asset Management LLC bought a new stake in shares of First Horizon in the 4th quarter worth approximately $40,000. Covestor Ltd increased its position in shares of First Horizon by 268.5% during the third quarter. Covestor Ltd now owns 5,034 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 3,668 shares during the period. Headlands Technologies LLC bought a new stake in First Horizon in the 4th quarter valued at $56,000. Finally, Spire Wealth Management increased its stake in First Horizon by 57.3% in the third quarter. Spire Wealth Management now owns 5,244 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 1,910 shares during the period. 80.28% of the stock is currently owned by institutional investors and hedge funds.

First Horizon Trading Up 0.8 %

NYSE:FHN opened at $15.80 on Friday. The firm has a market capitalization of $8.77 billion, a price-to-earnings ratio of 11.05, a PEG ratio of 4.30 and a beta of 0.94. First Horizon Co. has a 1-year low of $8.99 and a 1-year high of $15.96. The business’s 50-day moving average price is $14.76 and its two-hundred day moving average price is $13.69. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.13.

First Horizon (NYSE:FHN) last issued its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $819.00 million during the quarter, compared to analysts’ expectations of $809.51 million. First Horizon had a net margin of 16.07% and a return on equity of 8.96%. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.46 earnings per share. On average, equities analysts expect that First Horizon Co. will post 1.5 earnings per share for the current year.

First Horizon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, June 14th. This represents a $0.60 annualized dividend and a yield of 3.80%. First Horizon’s dividend payout ratio (DPR) is currently 41.96%.

First Horizon announced that its Board of Directors has approved a share repurchase plan on Tuesday, January 23rd that permits the company to repurchase $650.00 million in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 7.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

FHN has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on First Horizon from $16.00 to $17.50 and gave the company a “neutral” rating in a report on Thursday, April 4th. Wedbush reiterated an “outperform” rating and issued a $17.00 price target on shares of First Horizon in a research report on Wednesday, April 10th. Robert W. Baird lifted their price objective on First Horizon from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, April 18th. StockNews.com lowered shares of First Horizon from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Wells Fargo & Company lifted their price target on shares of First Horizon from $14.00 to $16.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, First Horizon presently has an average rating of “Moderate Buy” and a consensus price target of $16.15.

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.