Coldstream Capital Management Inc. Sells 905 Shares of First Horizon Co. (NYSE:FHN)

Coldstream Capital Management Inc. decreased its position in First Horizon Co. (NYSE:FHN) by 3.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,260 shares of the financial services provider’s stock after selling 905 shares during the period. Coldstream Capital Management Inc.’s holdings in First Horizon were worth $393,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. raised its holdings in First Horizon by 365.0% in the third quarter. UMB Bank n.a. now owns 1,688 shares of the financial services provider’s stock worth $26,000 after buying an additional 1,325 shares during the last quarter. Family Firm Inc. bought a new stake in shares of First Horizon during the second quarter valued at approximately $28,000. Nemes Rush Group LLC raised its holdings in First Horizon by 306.2% in the 2nd quarter. Nemes Rush Group LLC now owns 1,828 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 1,378 shares during the last quarter. Industrial Alliance Investment Management Inc. bought a new position in First Horizon in the 2nd quarter valued at approximately $31,000. Finally, Covestor Ltd boosted its stake in First Horizon by 44.0% during the 3rd quarter. Covestor Ltd now owns 2,130 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 651 shares during the last quarter. 80.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FHN. Wedbush downgraded First Horizon from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $20.00 to $17.00 in a report on Tuesday, September 24th. Stephens upped their target price on shares of First Horizon from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. The Goldman Sachs Group lifted 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. Raymond James increased their price objective on shares of First Horizon from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, Evercore ISI lifted their target price on shares of First Horizon from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, First Horizon currently has an average rating of “Moderate Buy” and a consensus price target of $19.69.

Insider Transactions at First Horizon

In related news, Director Harry V. Barton, Jr. sold 10,000 shares of First Horizon stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $19.92, for a total value of $199,200.00. Following the completion of the transaction, the director now owns 166,840 shares in the company, valued at approximately $3,323,452.80. This trade represents a 5.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP David T. Popwell sold 100,974 shares of First Horizon stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $19.77, for a total value of $1,996,255.98. Following the completion of the transaction, the executive vice president now owns 519,926 shares of the company’s stock, valued at approximately $10,278,937.02. This trade represents a 16.26 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.87% of the company’s stock.

First Horizon Stock Down 0.5 %

NYSE FHN opened at $20.19 on Friday. First Horizon Co. has a 52 week low of $12.95 and a 52 week high of $21.72. 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 company has a market capitalization of $10.70 billion, a P/E ratio of 14.63, a price-to-earnings-growth ratio of 1.54 and a beta of 0.91. The stock’s 50-day moving average price is $18.88 and its 200-day moving average price is $16.77.

First Horizon (NYSE:FHN) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $0.42 EPS for the quarter, beating the consensus estimate of $0.38 by $0.04. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $821.63 million. First Horizon had a net margin of 15.43% and a return on equity of 9.51%. During the same period last year, the firm earned $0.27 EPS. On average, equities research analysts predict that First Horizon Co. will post 1.49 earnings per share for the current year.

First Horizon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, December 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.97%. First Horizon’s payout ratio is 43.48%.

First Horizon declared that its Board of Directors has approved a stock buyback plan on Tuesday, October 29th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 10.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

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.