Swiss National Bank Sells 13,500 Shares of First Horizon Co. (NYSE:FHN)

Swiss National Bank decreased its holdings in shares of First Horizon Co. (NYSE:FHN) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,054,000 shares of the financial services provider’s stock after selling 13,500 shares during the quarter. Swiss National Bank’s holdings in First Horizon were worth $21,228,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Farther Finance Advisors LLC grew its stake in shares of First Horizon by 29.9% during the fourth quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider’s stock valued at $52,000 after buying an additional 591 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in First Horizon by 128.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 6,751 shares of the financial services provider’s stock worth $136,000 after purchasing an additional 3,801 shares in the last quarter. Moors & Cabot Inc. increased its holdings in First Horizon by 6.6% during the 4th quarter. Moors & Cabot Inc. now owns 39,800 shares of the financial services provider’s stock worth $802,000 after purchasing an additional 2,450 shares during the period. Independent Advisor Alliance increased its holdings in First Horizon by 1.1% during the 4th quarter. Independent Advisor Alliance now owns 57,730 shares of the financial services provider’s stock worth $1,163,000 after purchasing an additional 632 shares during the period. Finally, Johnson Investment Counsel Inc. increased its holdings in First Horizon by 2.8% during the 4th quarter. Johnson Investment Counsel Inc. now owns 2,661,592 shares of the financial services provider’s stock worth $53,604,000 after purchasing an additional 72,339 shares during the period. 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 First Horizon stock in a transaction dated 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 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 legal filing with the SEC, which can be accessed through this link. 0.87% of the stock is currently owned by insiders.

First Horizon Stock Down 0.2 %

First Horizon stock opened at $18.82 on Wednesday. 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 stock has a market capitalization of $9.82 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 1.19 and a beta of 0.86. First Horizon Co. has a 1-year low of $13.72 and a 1-year high of $22.44. The business has a fifty day moving average price of $20.88 and a 200-day moving average price of $19.16.

First Horizon (NYSE:FHN) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the business posted $0.32 earnings per share. Equities research analysts forecast that First Horizon Co. will post 1.67 EPS for the current fiscal year.

First Horizon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.15 per share. 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 3.19%. First Horizon’s dividend payout ratio is currently 44.12%.

Analyst Ratings Changes

Several research analysts have commented on the company. The Goldman Sachs Group raised their price objective on First Horizon from $18.50 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Wells Fargo & Company raised their price objective on First Horizon from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. Royal Bank of Canada raised their price objective on First Horizon from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Bank of America raised their price objective on First Horizon from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Finally, JPMorgan Chase & Co. increased their target price on First Horizon from $22.50 to $23.50 and gave the company a “neutral” rating in a research report on Friday, January 17th. Seven equities research 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, First Horizon has an average rating of “Moderate Buy” and an average target price of $22.23.

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.