Radnor Capital Management LLC Sells 7,950 Shares of First Horizon Co. (NYSE:FHN)

Radnor Capital Management LLC trimmed its position in shares of First Horizon Co. (NYSE:FHN) by 21.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 29,850 shares of the financial services provider’s stock after selling 7,950 shares during the quarter. Radnor Capital Management LLC’s holdings in First Horizon were worth $601,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Citigroup Inc. grew its position in First Horizon by 43.0% in the 3rd quarter. Citigroup Inc. now owns 948,122 shares of the financial services provider’s stock worth $14,724,000 after purchasing an additional 285,108 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of First Horizon by 13.1% in the 3rd quarter. Los Angeles Capital Management LLC now owns 868,094 shares of the financial services provider’s stock worth $13,482,000 after buying an additional 100,359 shares during the last quarter. Allen Capital Group LLC grew its holdings in shares of First Horizon by 128.4% in the third quarter. Allen Capital Group LLC now owns 52,612 shares of the financial services provider’s stock valued at $817,000 after acquiring an additional 29,581 shares in the last quarter. Greenwood Capital Associates LLC increased its position in shares of First Horizon by 10.1% during the third quarter. Greenwood Capital Associates LLC now owns 465,513 shares of the financial services provider’s stock valued at $7,229,000 after acquiring an additional 42,793 shares during the last quarter. Finally, Entropy Technologies LP bought a new stake in First Horizon during the third quarter worth $2,669,000. Institutional investors own 80.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Raymond James upped their price objective on First Horizon from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Stephens raised their price objective on shares of First Horizon from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods lifted their price objective on shares of First Horizon from $23.00 to $24.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. Royal Bank of Canada increased their target price on shares of First Horizon from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. lowered their price target on shares of First Horizon from $23.00 to $22.50 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.35.

Insider Activity

In related news, Director Harry V. Barton, Jr. sold 10,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $19.92, for a total transaction of $199,200.00. Following the completion of the transaction, the director now directly owns 166,840 shares in the company, valued at $3,323,452.80. The trade was a 5.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David T. Popwell sold 100,974 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $19.77, for a total value of $1,996,255.98. Following the completion of the transaction, the executive vice president now owns 519,926 shares in the company, valued at $10,278,937.02. This represents a 16.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.87% of the company’s stock.

First Horizon Stock Performance

Shares of FHN opened at $21.36 on Thursday. 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 $11.32 billion, a price-to-earnings ratio of 15.48, a price-to-earnings-growth ratio of 1.51 and a beta of 0.92. First Horizon Co. has a 52-week low of $12.95 and a 52-week high of $21.72. The stock’s 50-day simple moving average is $20.33 and its 200 day simple moving average is $17.59.

First Horizon (NYSE:FHN) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.04. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $821.63 million. First Horizon had a net margin of 15.43% and a return on equity of 9.51%. During the same period last year, the business earned $0.27 earnings per share. Research analysts forecast that First Horizon Co. will post 1.49 EPS for the current fiscal year.

First Horizon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend was Friday, December 13th. First Horizon’s payout ratio is 43.48%.

First Horizon declared that its board has approved a share buyback program on Tuesday, October 29th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 10.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

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.