Centiva Capital LP Has $2.45 Million Holdings in First Horizon Co. (NYSE:FHN)

Centiva Capital LP cut its holdings in shares of First Horizon Co. (NYSE:FHN) by 19.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 158,048 shares of the financial services provider’s stock after selling 38,178 shares during the quarter. Centiva Capital LP’s holdings in First Horizon were worth $2,454,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Citigroup Inc. boosted its position in First Horizon by 43.0% during the 3rd quarter. Citigroup Inc. now owns 948,122 shares of the financial services provider’s stock worth $14,724,000 after acquiring an additional 285,108 shares during the period. Los Angeles Capital Management LLC boosted its position in First Horizon by 13.1% during 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 acquiring an additional 100,359 shares during the period. Greenwood Capital Associates LLC boosted its position in First Horizon by 10.1% during the 3rd quarter. Greenwood Capital Associates LLC now owns 465,513 shares of the financial services provider’s stock worth $7,229,000 after acquiring an additional 42,793 shares during the period. Allen Capital Group LLC boosted its position in First Horizon by 128.4% during the 3rd quarter. Allen Capital Group LLC now owns 52,612 shares of the financial services provider’s stock worth $817,000 after acquiring an additional 29,581 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its position in First Horizon by 127.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 105,866 shares of the financial services provider’s stock worth $1,644,000 after acquiring an additional 59,258 shares during the period. 80.28% of the stock is currently owned by institutional investors and hedge funds.

First Horizon Stock Performance

Shares of NYSE FHN opened at $20.72 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $17.85 and its two-hundred day moving average is $16.46. The company has a market cap of $10.98 billion, a P/E ratio of 15.01, a P/E/G ratio of 1.58 and a beta of 0.91. First Horizon Co. has a 12 month low of $12.95 and a 12 month high of $21.72.

First Horizon (NYSE:FHN) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $0.42 EPS for the quarter, topping the consensus estimate of $0.38 by $0.04. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $821.63 million. First Horizon had a return on equity of 9.51% and a net margin of 15.43%. During the same period in the previous year, the business posted $0.27 EPS. On average, equities analysts expect that First Horizon Co. will post 1.49 EPS for the current year.

First Horizon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.90%. The ex-dividend date is Friday, December 13th. First Horizon’s dividend payout ratio is currently 43.48%.

First Horizon announced that its Board of Directors has approved a stock buyback plan on Tuesday, October 29th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 10.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on FHN shares. Royal Bank of Canada lifted their price target on First Horizon from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Stephens lifted their price target on First Horizon from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Evercore ISI lifted their price target on First Horizon from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Wedbush lowered First Horizon from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $20.00 to $17.00 in a report on Tuesday, September 24th. Finally, The Goldman Sachs Group boosted their target price on First Horizon from $18.50 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.08.

Insider Activity

In other news, EVP David T. Popwell sold 100,974 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $19.77, for a total transaction of $1,996,255.98. Following the sale, the executive vice president now directly owns 519,926 shares in the company, valued at approximately $10,278,937.02. The trade was a 16.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Harry V. Barton, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $19.92, for a total value of $199,200.00. Following the sale, the director now owns 166,840 shares in the company, valued at approximately $3,323,452.80. This represents a 5.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.87% of the stock is currently owned by company 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.