Vanguard Group Inc. Has $1.09 Billion Holdings in First Horizon Co. (NYSE:FHN)

Vanguard Group Inc. decreased its holdings in First Horizon Co. (NYSE:FHN) by 2.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,914,517 shares of the financial services provider’s stock after selling 1,178,250 shares during the period. Vanguard Group Inc. owned about 0.10% of First Horizon worth $1,085,838,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in FHN. Steward Partners Investment Advisory LLC increased its stake in First Horizon by 3.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 15,731 shares of the financial services provider’s stock valued at $317,000 after buying an additional 571 shares during the period. Farther Finance Advisors LLC grew its holdings 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 acquiring an additional 591 shares in the last quarter. Independent Advisor Alliance increased its stake in shares of First Horizon by 1.1% in the fourth quarter. Independent Advisor Alliance now owns 57,730 shares of the financial services provider’s stock worth $1,163,000 after acquiring an additional 632 shares during the last quarter. Access Investment Management LLC raised its holdings in shares of First Horizon by 0.8% during the fourth quarter. Access Investment Management LLC now owns 88,490 shares of the financial services provider’s stock worth $1,782,000 after acquiring an additional 675 shares in the last quarter. Finally, CreativeOne Wealth LLC boosted its position in First Horizon by 7.1% during the third quarter. CreativeOne Wealth LLC now owns 11,665 shares of the financial services provider’s stock valued at $181,000 after purchasing an additional 773 shares during the last quarter. 80.28% of the stock is owned by hedge funds and other institutional investors.

First Horizon Stock Down 0.2 %

Shares of FHN stock opened at $19.24 on Friday. First Horizon Co. has a 12 month low of $13.72 and a 12 month 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 has a market cap of $9.89 billion, a PE ratio of 14.14, a price-to-earnings-growth ratio of 1.19 and a beta of 0.86. The stock has a 50 day moving average of $20.65 and a 200-day moving average of $19.30.

First Horizon (NYSE:FHN) last released its earnings results on Thursday, January 16th. The financial services provider reported $0.43 EPS for the quarter, beating 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 quarter in the previous year, the company posted $0.32 earnings per share. On average, equities analysts predict that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Dividend Announcement

The business also recently announced 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. This represents a $0.60 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is Friday, March 14th. First Horizon’s payout ratio is presently 44.12%.

Analysts Set New Price Targets

FHN has been the subject of a number of recent research reports. Barclays raised their price target on First Horizon from $23.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Wells Fargo & Company raised their price objective on shares of First Horizon from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. Citigroup boosted their target price on shares of First Horizon from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Bank of America raised their price target on shares of First Horizon from $23.00 to $25.00 and gave the company a “buy” rating in a report on Friday, January 17th. Finally, UBS Group started coverage on shares of First Horizon in a report on Tuesday, December 17th. They issued a “buy” rating and a $25.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $22.23.

Insider Buying and Selling

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the firm’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 value of $2,323,877.40. Following the completion of the sale, the chief executive officer now owns 1,861,381 shares in the company, valued at approximately $39,330,980.53. This trade represents a 5.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.87% of the stock is owned by company insiders.

First Horizon Company 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.