Capital Square LLC Sells 9,663 Shares of First Horizon Co. (NYSE:FHN)

Capital Square LLC lowered its stake in First Horizon Co. (NYSE:FHN) by 7.5% in the 4th quarter, Holdings Channel reports. The firm owned 119,328 shares of the financial services provider’s stock after selling 9,663 shares during the quarter. First Horizon accounts for approximately 1.4% of Capital Square LLC’s portfolio, making the stock its 13th largest position. Capital Square LLC’s holdings in First Horizon were worth $2,515,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Stifel Financial Corp grew its stake in First Horizon by 14.8% during the third quarter. Stifel Financial Corp now owns 85,461 shares of the financial services provider’s stock valued at $1,327,000 after acquiring an additional 10,988 shares in the last quarter. Barclays PLC boosted its holdings in First Horizon by 169.1% in the 3rd quarter. Barclays PLC now owns 1,886,828 shares of the financial services provider’s stock valued at $29,301,000 after purchasing an additional 1,185,772 shares during the period. M&T Bank Corp grew its position in shares of First Horizon by 4.7% during the 3rd quarter. M&T Bank Corp now owns 20,400 shares of the financial services provider’s stock valued at $317,000 after purchasing an additional 912 shares in the last quarter. Virtu Financial LLC increased its holdings in shares of First Horizon by 227.0% in the third quarter. Virtu Financial LLC now owns 33,423 shares of the financial services provider’s stock worth $519,000 after purchasing an additional 23,203 shares during the period. Finally, Sanctuary Advisors LLC raised its position in shares of First Horizon by 16.8% in the third quarter. Sanctuary Advisors LLC now owns 24,637 shares of the financial services provider’s stock worth $383,000 after buying an additional 3,540 shares in the last quarter. Hedge funds and other institutional investors own 80.28% of the company’s stock.

Insider Activity at First Horizon

In other news, CEO D Bryan Jordan sold 109,980 shares of First Horizon 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 owns 1,861,381 shares of the company’s stock, valued at approximately $39,330,980.53. The trade was a 5.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.87% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have weighed in on FHN shares. Keefe, Bruyette & Woods raised their price target on First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Baird R W upgraded shares of First Horizon from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 7th. Barclays decreased their price target on shares of First Horizon from $25.00 to $23.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Citigroup upped 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. Finally, Stephens restated an “overweight” rating and set a $24.00 price target on shares of First Horizon in a research report on Friday, January 17th. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, First Horizon presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.30.

First Horizon Stock Down 1.8 %

Shares of First Horizon stock opened at $17.25 on Thursday. The company’s 50 day moving average price is $19.43 and its 200-day moving average price is $19.48. First Horizon Co. has a 52-week low of $13.93 and a 52-week high of $22.44. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96. The stock has a market capitalization of $8.87 billion, a price-to-earnings ratio of 12.68, a P/E/G ratio of 1.19 and a beta of 0.60.

First Horizon (NYSE:FHN) last released its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. The firm had revenue of $823.69 million for the quarter, compared to analysts’ expectations of $825.11 million. 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 earned $0.35 earnings per share. Equities research analysts forecast that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors 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 dividend on an annualized basis and a dividend yield of 3.48%. First Horizon’s dividend payout ratio is presently 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.