Southern Capital Advisors LLC Sells 4,864 Shares of First Horizon Co. (NYSE:FHN)

Southern Capital Advisors LLC decreased its position in First Horizon Co. (NYSE:FHN) by 18.9% during the 4th quarter, HoldingsChannel reports. The fund owned 20,812 shares of the financial services provider’s stock after selling 4,864 shares during the quarter. Southern Capital Advisors LLC’s holdings in First Horizon were worth $419,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. UMB Bank n.a. lifted its position in shares of First Horizon by 365.0% in the third quarter. UMB Bank n.a. now owns 1,688 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 1,325 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of 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 worth $29,000 after buying an additional 884 shares during the last quarter. Covestor Ltd grew its holdings in shares of First Horizon by 44.0% in the 3rd quarter. Covestor Ltd now owns 2,130 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 651 shares in the last quarter. True Wealth Design LLC acquired a new stake in shares of First Horizon in the third quarter valued at about $36,000. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in First Horizon by 335.6% during 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 in the last quarter. Institutional investors and hedge funds own 80.28% of the company’s stock.

First Horizon Stock Performance

FHN opened at $21.94 on Friday. 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 business has a fifty day simple moving average of $20.64 and a 200 day simple moving average of $18.03. First Horizon Co. has a 1 year low of $13.45 and a 1 year high of $22.10. The company has a market capitalization of $11.63 billion, a PE ratio of 16.13, a price-to-earnings-growth ratio of 1.22 and a beta of 0.92.

First Horizon (NYSE:FHN) last announced its earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.05. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. During the same period in the previous year, the firm earned $0.32 earnings per share. Research analysts expect that First Horizon Co. will post 1.63 EPS for the current year.

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

First Horizon Announces Dividend

The firm also recently announced 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 dividend yield of 2.74%. First Horizon’s payout ratio is presently 44.12%.

Insider Transactions at First Horizon

In other news, EVP David T. Popwell sold 100,974 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $10,278,937.02. This represents a 16.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Harry V. Barton, Jr. sold 10,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $19.92, for a total value of $199,200.00. Following the completion of the transaction, the director now directly owns 166,840 shares of the company’s stock, valued at approximately $3,323,452.80. This trade represents a 5.65 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 220,954 shares of company stock valued at $4,519,333. 0.87% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. The Goldman Sachs Group raised their price target on First Horizon from $18.50 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. UBS Group assumed coverage on shares of First Horizon in a research report on Tuesday, December 17th. They set a “buy” rating and a $25.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on shares of First Horizon from $22.50 to $23.50 and gave the company a “neutral” rating in a research report on Friday, January 17th. Royal Bank of Canada upped their target price on shares of First Horizon from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Finally, Stephens reiterated an “overweight” rating and set a $24.00 price target on shares of First Horizon in a report on Friday, January 17th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, First Horizon has an average rating of “Moderate Buy” and an average target price of $22.04.

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.