First Horizon Co. (NYSE:FHN) Shares Sold by AM Investment Strategies LLC

AM Investment Strategies LLC decreased its position in First Horizon Co. (NYSE:FHN) by 48.9% in the 4th quarter, HoldingsChannel reports. The firm owned 78,321 shares of the financial services provider’s stock after selling 75,050 shares during the period. AM Investment Strategies LLC’s holdings in First Horizon were worth $1,109,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its holdings in First Horizon by 6,217.8% in the 3rd quarter. AQR Capital Management LLC now owns 7,806,037 shares of the financial services provider’s stock valued at $86,023,000 after buying an additional 7,682,480 shares during the period. North Reef Capital Management LP grew its holdings in First Horizon by 137.9% in the 3rd quarter. North Reef Capital Management LP now owns 8,900,000 shares of the financial services provider’s stock valued at $98,078,000 after buying an additional 5,158,750 shares during the period. LSV Asset Management grew its holdings in First Horizon by 807.7% in the 3rd quarter. LSV Asset Management now owns 5,487,209 shares of the financial services provider’s stock valued at $60,469,000 after buying an additional 4,882,709 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in First Horizon by 1,068.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 3,129,336 shares of the financial services provider’s stock valued at $34,485,000 after buying an additional 2,861,474 shares during the period. Finally, Vanguard Group Inc. grew its holdings in First Horizon by 4.2% in the 3rd quarter. Vanguard Group Inc. now owns 56,775,050 shares of the financial services provider’s stock valued at $625,661,000 after buying an additional 2,276,977 shares during the period. Institutional investors and hedge funds own 80.28% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Royal Bank of Canada upgraded First Horizon from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $16.00 to $18.00 in a report on Tuesday, April 9th. Raymond James upgraded First Horizon from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $13.00 to $17.00 in a report on Friday, January 5th. JPMorgan Chase & Co. boosted their target price on First Horizon from $16.00 to $17.50 and gave the stock a “neutral” rating in a report on Thursday, April 4th. StockNews.com upgraded First Horizon from a “sell” rating to a “hold” rating in a report on Friday, April 19th. Finally, UBS Group upgraded First Horizon from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $15.50 to $16.00 in a report on Wednesday, January 24th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, First Horizon presently has a consensus rating of “Moderate Buy” and an average price target of $16.15.

First Horizon Stock Down 1.0 %

First Horizon stock traded down $0.15 during midday trading on Thursday, hitting $14.78. 6,360,743 shares of the company were exchanged, compared to its average volume of 7,043,827. The company’s fifty day moving average price is $14.62 and its 200-day moving average price is $13.49. The company has a market cap of $8.20 billion, a PE ratio of 10.34, a price-to-earnings-growth ratio of 4.10 and a beta of 0.94. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.95. First Horizon Co. has a fifty-two week low of $8.99 and a fifty-two week high of $17.90.

First Horizon (NYSE:FHN) last released its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. First Horizon had a return on equity of 8.96% and a net margin of 16.07%. The firm had revenue of $819.00 million for the quarter, compared to analyst estimates of $809.51 million. During the same period in the previous year, the company posted $0.46 EPS. First Horizon’s revenue for the quarter was down 4.7% on a year-over-year basis. On average, research analysts predict that First Horizon Co. will post 1.5 EPS for the current fiscal year.

First Horizon declared that its Board of Directors has initiated a share buyback plan on Tuesday, January 23rd that allows the company to repurchase $650.00 million in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 7.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

First Horizon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date is Friday, June 14th. First Horizon’s payout ratio is 41.96%.

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.