Cullen Frost Bankers Inc. Sells 5,046 Shares of First Horizon Co. (NYSE:FHN)

Cullen Frost Bankers Inc. lowered its position in First Horizon Co. (NYSE:FHN) by 71.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,054 shares of the financial services provider’s stock after selling 5,046 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in First Horizon were worth $41,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc lifted its holdings in 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 worth $29,000 after buying an additional 884 shares during the period. Jones Financial Companies Lllp purchased a new stake in First Horizon during the fourth quarter worth $30,000. Kentucky Trust Co purchased a new stake in First Horizon during the fourth quarter worth $32,000. Covestor Ltd lifted its holdings in First Horizon by 44.0% during the third 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. Finally, True Wealth Design LLC purchased a new stake in First Horizon during the third quarter worth $36,000. Institutional investors own 80.28% of the company’s stock.

Analyst Ratings Changes

FHN has been the subject of a number of analyst reports. Wells Fargo & Company upped their target price on First Horizon from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. The Goldman Sachs Group upped 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. UBS Group initiated coverage on First Horizon in a report on Tuesday, December 17th. They set a “buy” rating and a $25.00 price objective for the company. Bank of America increased their price objective on First Horizon from $23.00 to $25.00 and gave the company a “buy” rating in a report on Friday, January 17th. Finally, Keefe, Bruyette & Woods increased their price objective on First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, First Horizon presently has a consensus rating of “Moderate Buy” and an average price target of $22.23.

First Horizon Price Performance

NYSE FHN opened at $18.93 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 stock’s fifty day moving average price is $21.11 and its 200 day moving average price is $19.05. First Horizon Co. has a 1 year low of $13.72 and a 1 year high of $22.44. The company has a market cap of $9.87 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 1.19 and a beta of 0.86.

First Horizon (NYSE:FHN) last released its earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (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 business posted $0.32 EPS. As a group, equities research analysts forecast that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Dividend Announcement

The business also recently declared 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. This represents a $0.60 annualized dividend and a yield of 3.17%. The ex-dividend date is Friday, March 14th. First Horizon’s dividend payout ratio is currently 44.12%.

Insiders Place Their Bets

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $21.13, for a total transaction of $2,323,877.40. Following the sale, the chief executive officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.87% of the stock is 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.