Great Lakes Advisors LLC Sells 1,520 Shares of First Horizon Co. (NYSE:FHN)

Great Lakes Advisors LLC cut its holdings in First Horizon Co. (NYSE:FHN) by 5.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,825 shares of the financial services provider’s stock after selling 1,520 shares during the period. Great Lakes Advisors LLC’s holdings in First Horizon were worth $560,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of FHN. Versant Capital Management Inc raised its holdings in First Horizon by 160.1% in the 4th quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 884 shares during the period. Jones Financial Companies Lllp bought a new stake in First Horizon during the fourth quarter valued at about $30,000. Kentucky Trust Co purchased a new stake in First Horizon in the fourth quarter worth about $32,000. True Wealth Design LLC bought a new position in shares of First Horizon in the third quarter worth about $36,000. Finally, Farther Finance Advisors LLC lifted its position 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. Hedge funds and other institutional investors own 80.28% of the company’s stock.

Insider Activity at First Horizon

In related news, CEO D Bryan Jordan sold 109,980 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $39,330,980.53. This represents a 5.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.87% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on FHN. Wells Fargo & Company raised their target price on shares of First Horizon from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Royal Bank of Canada raised their price objective on shares of First Horizon from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. UBS Group began coverage on shares of First Horizon in a report on Tuesday, December 17th. They issued a “buy” rating and a $25.00 target price for the company. Stephens reissued an “overweight” rating and set a $24.00 price target on shares of First Horizon in a report on Friday, January 17th. Finally, Citigroup upped their price objective on First Horizon from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.23.

First Horizon Price Performance

First Horizon stock opened at $19.02 on Monday. First Horizon Co. has a 52-week low of $13.72 and a 52-week high of $22.44. 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 firm’s fifty day moving average is $20.94 and its 200 day moving average is $19.12. The company has a market cap of $9.92 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 1.19 and a beta of 0.86.

First Horizon (NYSE:FHN) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates 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 posted $0.32 earnings per share. Sell-side analysts forecast that First Horizon Co. will post 1.67 EPS for the current fiscal year.

First Horizon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend is Friday, March 14th. First Horizon’s dividend payout ratio is currently 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.