First Horizon Co. (NYSE:FHN) Stock Position Reduced by Amalgamated Bank

Amalgamated Bank decreased its stake in First Horizon Co. (NYSE:FHN) by 1.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 252,492 shares of the financial services provider’s stock after selling 3,530 shares during the quarter. Amalgamated Bank’s holdings in First Horizon were worth $5,085,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp raised its holdings in shares of First Horizon by 26.2% during the fourth quarter. Bank of New York Mellon Corp now owns 37,131,162 shares of the financial services provider’s stock worth $747,822,000 after acquiring an additional 7,715,191 shares in the last quarter. State Street Corp increased its position in First Horizon by 18.6% in the 3rd quarter. State Street Corp now owns 26,236,784 shares of the financial services provider’s stock worth $410,789,000 after purchasing an additional 4,116,486 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of First Horizon during the 3rd quarter worth about $39,242,000. Barclays PLC lifted its holdings in shares of First Horizon by 169.1% during the 3rd quarter. Barclays PLC now owns 1,886,828 shares of the financial services provider’s stock valued at $29,301,000 after buying an additional 1,185,772 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of First Horizon in the 3rd quarter valued at approximately $7,797,000. Institutional investors and hedge funds own 80.28% of the company’s stock.

Insider Transactions at First Horizon

In related news, CEO D Bryan Jordan sold 109,980 shares of First Horizon stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $21.13, for a total transaction of $2,323,877.40. Following the sale, the chief executive officer now directly owns 1,861,381 shares of the company’s stock, valued at $39,330,980.53. This trade represents a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.87% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on FHN shares. JPMorgan Chase & Co. raised their price objective on shares of First Horizon from $22.50 to $23.50 and gave the company a “neutral” rating in a research report on Friday, January 17th. The Goldman Sachs Group increased their price target on shares of First Horizon from $18.50 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Barclays lifted their price objective on shares of First Horizon from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Raymond James increased their target price on shares of First Horizon from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, UBS Group assumed coverage on First Horizon in a research report on Tuesday, December 17th. They issued a “buy” rating and a $25.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.04.

First Horizon Price Performance

Shares of NYSE:FHN opened at $21.04 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. The business has a 50 day moving average price of $21.13 and a 200 day moving average price of $18.81. The company has a market cap of $11.15 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 1.19 and a beta of 0.92. First Horizon Co. has a twelve month low of $13.72 and a twelve month high of $22.44.

First Horizon (NYSE:FHN) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.05. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. During the same period in the prior year, the business earned $0.32 EPS. Research analysts predict that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.15 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.60 annualized dividend and a yield of 2.85%. First Horizon’s dividend payout ratio is 44.12%.

First Horizon Profile

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.