Factorial Partners LLC Sells 112,500 Shares of First Horizon Co. (NYSE:FHN)

Factorial Partners LLC decreased its position in shares of First Horizon Co. (NYSE:FHN) by 63.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,000 shares of the financial services provider’s stock after selling 112,500 shares during the quarter. Factorial Partners LLC’s holdings in First Horizon were worth $1,309,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc boosted its stake in shares of First Horizon by 160.1% during the fourth 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. Kentucky Trust Co bought a new position in First Horizon in the 4th quarter valued at approximately $32,000. Covestor Ltd boosted its position in First Horizon by 44.0% during the 3rd quarter. Covestor Ltd now owns 2,130 shares of the financial services provider’s stock worth $34,000 after buying an additional 651 shares during the period. True Wealth Design LLC acquired a new stake in First Horizon during the 3rd quarter worth approximately $36,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in First Horizon by 335.6% during the 4th 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 last quarter. Institutional investors own 80.28% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on FHN shares. Stephens reiterated an “overweight” rating and set a $24.00 price target on shares of First Horizon in a report on Friday, January 17th. Barclays lifted their target price on First Horizon from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Wells Fargo & Company increased their price target on First Horizon from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. Keefe, Bruyette & Woods lifted their price objective on First Horizon from $23.00 to $24.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. Finally, The Goldman Sachs Group upped their target price on First Horizon from $18.50 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.23.

Insider Transactions at First Horizon

In related news, CEO D Bryan Jordan sold 109,980 shares of First Horizon 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 completion of the sale, the chief executive officer now owns 1,861,381 shares of the company’s stock, valued at approximately $39,330,980.53. This trade represents a 5.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.87% of the stock is owned by insiders.

First Horizon Stock Up 2.5 %

Shares of NYSE FHN opened at $21.55 on Friday. First Horizon Co. has a 12-month low of $13.72 and a 12-month high of $22.44. 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 firm has a market cap of $11.42 billion, a PE ratio of 15.84, a P/E/G ratio of 1.19 and a beta of 0.92. The company’s fifty day simple moving average is $21.17 and its 200 day simple moving average is $18.86.

First Horizon (NYSE:FHN) last issued its earnings results on Thursday, January 16th. The financial services provider reported $0.43 EPS 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 period in the prior year, the firm posted $0.32 earnings per share. As a group, sell-side analysts forecast that First Horizon Co. will post 1.67 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, March 14th. This represents a $0.60 annualized dividend and a dividend yield of 2.78%. First Horizon’s dividend payout ratio is 44.12%.

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.