Great Lakes Advisors LLC Sells 1,520 Shares of First Horizon Co. (NYSE:FHN)

Great Lakes Advisors LLC lessened its stake in shares of First Horizon Co. (NYSE:FHN) by 5.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,825 shares of the financial services provider’s stock after selling 1,520 shares during the period. Great Lakes Advisors LLC’s holdings in First Horizon were worth $560,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Versant Capital Management Inc raised its position in First Horizon by 160.1% during the 4th quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 884 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in shares of First Horizon during the fourth quarter valued at $30,000. Kentucky Trust Co purchased a new position in shares of First Horizon during the fourth quarter valued at $32,000. True Wealth Design LLC bought a new stake in shares of First Horizon in the third quarter valued at about $36,000. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in First Horizon by 335.6% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 2,000 shares during the period. Hedge funds and other institutional investors own 80.28% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on FHN. Barclays boosted their price target on shares of First Horizon from $23.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Royal Bank of Canada boosted their price objective on shares of First Horizon from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. 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. Stephens reissued an “overweight” rating and issued a $24.00 price target on shares of First Horizon in a research report on Friday, January 17th. Finally, Wells Fargo & Company raised their price objective on First Horizon from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. Seven investment 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.23.

First Horizon Price Performance

Shares of FHN opened at $19.02 on Monday. 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 company’s fifty day moving average price is $20.94 and its 200-day moving average price is $19.12. First Horizon Co. has a 1-year low of $13.72 and a 1-year high of $22.44. The firm has a market capitalization of $9.92 billion, a PE ratio of 13.98, a price-to-earnings-growth ratio of 1.19 and a beta of 0.86.

First Horizon (NYSE:FHN) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share 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 in the prior year, the firm posted $0.32 EPS. On average, equities research analysts predict that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.60 annualized dividend and a yield of 3.16%. First Horizon’s dividend payout ratio (DPR) is presently 44.12%.

Insiders Place Their Bets

In other news, CEO D Bryan Jordan sold 109,980 shares of the stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $21.13, for a total value of $2,323,877.40. Following the sale, the chief executive officer now owns 1,861,381 shares in the company, valued at $39,330,980.53. This represents a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.87% of the stock is currently owned by insiders.

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.