Wellington Shields & Co. LLC Trims Holdings in First Horizon Co. (NYSE:FHN)

Wellington Shields & Co. LLC decreased its holdings in First Horizon Co. (NYSE:FHN) by 66.7% in the 4th quarter, Holdings Channel reports. The firm owned 10,000 shares of the financial services provider’s stock after selling 20,000 shares during the period. Wellington Shields & Co. LLC’s holdings in First Horizon were worth $201,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Citigroup Inc. raised its position in First Horizon by 43.0% in the 3rd quarter. Citigroup Inc. now owns 948,122 shares of the financial services provider’s stock valued at $14,724,000 after purchasing an additional 285,108 shares during the last quarter. Allen Capital Group LLC raised its position in First Horizon by 128.4% during the 3rd quarter. Allen Capital Group LLC now owns 52,612 shares of the financial services provider’s stock worth $817,000 after buying an additional 29,581 shares during the last quarter. First Citizens Bank & Trust Co. purchased a new position in First Horizon during the 4th quarter worth $304,000. Merit Financial Group LLC purchased a new position in First Horizon during the 4th quarter worth $453,000. Finally, Smith Group Asset Management LLC purchased a new position in First Horizon during the 4th quarter worth $1,813,000. Hedge funds and other institutional investors own 80.28% of the company’s stock.

Insiders Place Their Bets

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the firm’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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.87% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

FHN has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on shares of First Horizon from $22.50 to $23.50 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Bank of America upped their price objective on shares of First Horizon from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Keefe, Bruyette & Woods upped their price objective on shares of First Horizon from $23.00 to $24.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. Barclays upped their price objective on shares of First Horizon from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Finally, The Goldman Sachs Group upped their price objective on shares of First Horizon from $18.50 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $22.23.

First Horizon Price Performance

Shares of NYSE FHN opened at $19.02 on Friday. The stock 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 Co. has a 52 week low of $13.72 and a 52 week high of $22.44. The company’s 50-day moving average price is $20.94 and its 200 day moving average price is $19.08. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14.

First Horizon (NYSE:FHN) last issued its quarterly earnings data 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 previous year, the business posted $0.32 EPS. As a group, research analysts forecast that First Horizon Co. will post 1.67 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a yield of 3.16%. First Horizon’s payout ratio is 44.12%.

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.