First Horizon Co. (NYSE:FHN) Holdings Trimmed by Geode Capital Management LLC

Geode Capital Management LLC reduced its position in shares of First Horizon Co. (NYSE:FHN) by 4.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,908,420 shares of the financial services provider’s stock after selling 438,504 shares during the quarter. Geode Capital Management LLC owned 1.68% of First Horizon worth $179,473,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. B. Metzler seel. Sohn & Co. AG purchased a new stake in First Horizon in the 4th quarter worth about $691,000. Alliancebernstein L.P. increased its holdings in shares of First Horizon by 18.2% in the 4th quarter. Alliancebernstein L.P. now owns 1,272,804 shares of the financial services provider’s stock valued at $25,634,000 after purchasing an additional 196,321 shares during the period. O Shaughnessy Asset Management LLC lifted its position in shares of First Horizon by 37.2% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 135,722 shares of the financial services provider’s stock worth $2,733,000 after purchasing an additional 36,816 shares in the last quarter. Orion Portfolio Solutions LLC boosted its holdings in shares of First Horizon by 30.5% during the fourth quarter. Orion Portfolio Solutions LLC now owns 55,387 shares of the financial services provider’s stock worth $1,115,000 after purchasing an additional 12,944 shares during the period. Finally, denkapparat Operations GmbH purchased a new position in First Horizon during the fourth quarter valued at approximately $242,000. Hedge funds and other institutional investors own 80.28% of the company’s stock.

Wall Street Analysts Forecast Growth

FHN has been the subject of a number of research reports. Raymond James decreased their target price on shares of First Horizon from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. lifted their price objective on First Horizon from $22.50 to $23.50 and gave the company a “neutral” rating in a research report on Friday, January 17th. Keefe, Bruyette & Woods upped their target price on First Horizon from $23.00 to $24.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. Citigroup lifted their price target on First Horizon from $24.00 to $25.00 and gave the company a “buy” rating in a report on Friday, February 28th. Finally, Royal Bank of Canada increased their price objective on First Horizon from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.23.

First Horizon Price Performance

NYSE FHN opened at $16.16 on Monday. The stock has a 50-day simple moving average of $20.36 and a 200 day simple moving average of $19.45. First Horizon Co. has a twelve month low of $13.72 and a twelve month high of $22.44. The stock has a market capitalization of $8.31 billion, a PE ratio of 11.88, a P/E/G ratio of 1.19 and a beta of 0.60. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96.

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

First Horizon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.60 annualized dividend and a dividend yield of 3.71%. First Horizon’s payout ratio is 44.12%.

Insider Activity

In other news, CEO D Bryan Jordan sold 109,980 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $39,330,980.53. The trade was a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.87% of the stock is owned by company insiders.

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.