Aldebaran Financial Inc. Trims Stake in First Horizon Co. (NYSE:FHN)

Aldebaran Financial Inc. cut its stake in shares of First Horizon Co. (NYSE:FHN) by 19.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,308 shares of the financial services provider’s stock after selling 6,981 shares during the period. Aldebaran Financial Inc.’s holdings in First Horizon were worth $570,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Belpointe Asset Management LLC grew its stake in shares of First Horizon by 3.1% during the 4th quarter. Belpointe Asset Management LLC now owns 17,631 shares of the financial services provider’s stock valued at $355,000 after acquiring an additional 535 shares during the period. Steward Partners Investment Advisory LLC raised its position in shares of First Horizon by 3.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 15,731 shares of the financial services provider’s stock valued at $317,000 after purchasing an additional 571 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of First Horizon by 29.9% during the 4th quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider’s stock valued at $52,000 after buying an additional 591 shares in the last quarter. Independent Advisor Alliance boosted its holdings in First Horizon by 1.1% in the 4th quarter. Independent Advisor Alliance now owns 57,730 shares of the financial services provider’s stock worth $1,163,000 after buying an additional 632 shares during the period. Finally, Access Investment Management LLC increased its stake in First Horizon by 0.8% in the 4th quarter. Access Investment Management LLC now owns 88,490 shares of the financial services provider’s stock worth $1,782,000 after buying an additional 675 shares in the last quarter. Institutional investors own 80.28% of the company’s stock.

Insider Activity at First Horizon

In other news, CEO D Bryan Jordan sold 109,980 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $21.13, for a total transaction of $2,323,877.40. Following the transaction, the chief executive officer now directly owns 1,861,381 shares of the company’s stock, valued at approximately $39,330,980.53. This trade represents a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.87% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FHN. Stephens reissued an “overweight” rating and set a $24.00 target price on shares of First Horizon in a research note on Friday, January 17th. Wells Fargo & Company cut their price objective on First Horizon from $22.00 to $20.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 9th. Bank of America increased their price target on First Horizon from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. Keefe, Bruyette & Woods decreased their price objective on First Horizon from $24.00 to $22.00 and set a “market perform” rating on the stock in a report on Thursday, April 17th. Finally, Robert W. Baird raised shares of First Horizon from a “neutral” rating to an “outperform” rating and set a $22.00 target price for the company in a report on Monday, April 7th. Six analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.03.

First Horizon Stock Down 3.1 %

Shares of NYSE FHN opened at $16.57 on Tuesday. The company has a market cap of $8.52 billion, a P/E ratio of 12.18, a PEG ratio of 1.19 and a beta of 0.60. The firm has a 50-day simple moving average of $19.11 and a two-hundred day simple moving average of $19.57. First Horizon Co. has a 1 year low of $14.09 and a 1 year high of $22.44. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95.

First Horizon (NYSE:FHN) last posted its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. The company had revenue of $823.69 million during the quarter, compared to analysts’ expectations of $825.11 million. During the same quarter in the previous year, the business earned $0.35 EPS. Research analysts anticipate that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend was Friday, March 14th. First Horizon’s dividend payout ratio is presently 41.67%.

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.