First Horizon Co. (NYSE:FHN) Shares Sold by Huber Capital Management LLC

Huber Capital Management LLC lowered its stake in shares of First Horizon Co. (NYSE:FHN) by 3.3% in the fourth quarter, HoldingsChannel reports. The fund owned 626,168 shares of the financial services provider’s stock after selling 21,300 shares during the quarter. First Horizon makes up about 2.5% of Huber Capital Management LLC’s portfolio, making the stock its 15th largest position. Huber Capital Management LLC’s holdings in First Horizon were worth $12,611,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of FHN. Bank of New York Mellon Corp boosted its holdings in shares of First Horizon by 26.2% in the 4th quarter. Bank of New York Mellon Corp now owns 37,131,162 shares of the financial services provider’s stock valued at $747,822,000 after purchasing an additional 7,715,191 shares during the last quarter. State Street Corp increased its stake in First Horizon by 18.6% during the third quarter. State Street Corp now owns 26,236,784 shares of the financial services provider’s stock worth $410,789,000 after acquiring an additional 4,116,486 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of First Horizon by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 9,346,924 shares of the financial services provider’s stock worth $145,194,000 after purchasing an additional 61,397 shares during the period. Norges Bank acquired a new position in shares of First Horizon in the 4th quarter valued at about $132,418,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of First Horizon by 160.1% during the 4th quarter. JPMorgan Chase & Co. now owns 5,524,827 shares of the financial services provider’s stock worth $111,270,000 after purchasing an additional 3,400,811 shares during the period. 80.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Citigroup lifted their price target on shares of First Horizon from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, February 28th. JPMorgan Chase & Co. raised 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 increased their target price on First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. Royal Bank of Canada boosted their price target on First Horizon from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Finally, StockNews.com downgraded shares of First Horizon from a “hold” rating to a “sell” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, First Horizon has a consensus rating of “Moderate Buy” and a consensus price target of $22.23.

Insider Buying and Selling

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 1,861,381 shares of the company’s stock, valued at approximately $39,330,980.53. This trade represents a 5.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.87% of the company’s stock.

First Horizon Stock Up 2.6 %

FHN stock opened at $19.64 on Thursday. First Horizon Co. has a 1-year low of $13.72 and a 1-year high of $22.44. The firm has a fifty day moving average price of $20.53 and a two-hundred day moving average price of $19.41. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95. The firm has a market cap of $10.10 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 1.19 and a beta of 0.86.

First Horizon (NYSE:FHN) last posted 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 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 predict that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a dividend of $0.15 per share. The ex-dividend date was Friday, March 14th. This represents a $0.60 annualized dividend and a dividend yield of 3.05%. 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.