First Horizon Co. (NYSE:FHN) Shares Sold by Arizona State Retirement System

Arizona State Retirement System decreased its position in shares of First Horizon Co. (NYSE:FHN) by 1.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 155,525 shares of the financial services provider’s stock after selling 1,942 shares during the period. Arizona State Retirement System’s holdings in First Horizon were worth $3,132,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Citigroup Inc. increased its position in shares of First Horizon by 43.0% during the third 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 last quarter. Los Angeles Capital Management LLC grew its stake 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 valued at $13,482,000 after purchasing an additional 100,359 shares in the last quarter. Allen Capital Group LLC increased its holdings 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 purchasing an additional 29,581 shares during the last quarter. First Citizens Bank & Trust Co. acquired a new position in shares of First Horizon in the 4th quarter valued at approximately $304,000. Finally, Merit Financial Group LLC purchased a new position in shares of First Horizon during the 4th quarter valued at approximately $453,000. Institutional investors and hedge funds own 80.28% of the company’s stock.

First Horizon Trading Down 1.6 %

NYSE:FHN opened at $18.93 on Monday. The firm has a market capitalization of $9.87 billion, a P/E ratio of 13.92, a P/E/G ratio of 1.19 and a beta of 0.86. The business has a 50 day simple moving average of $21.11 and a 200 day simple moving average of $19.05. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95. First Horizon Co. has a 12-month low of $13.72 and a 12-month high of $22.44.

First Horizon (NYSE:FHN) last announced its quarterly 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 net margin of 15.38% and a return on equity of 10.10%. During the same quarter in the prior year, the business earned $0.32 earnings per share. Equities research analysts predict that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Dividend Announcement

The company 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 $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend is Friday, March 14th. First Horizon’s dividend payout ratio (DPR) is 44.12%.

Insider Buying and Selling at First Horizon

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

Wall Street Analysts Forecast Growth

FHN has been the subject of a number of research analyst reports. UBS Group assumed coverage on shares of First Horizon in a research note on Tuesday, December 17th. They issued a “buy” rating and a $25.00 price target for the company. Barclays upped their target price on shares of First Horizon from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Wells Fargo & Company lifted their price target on First Horizon from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. JPMorgan Chase & Co. boosted their price objective on First Horizon from $22.50 to $23.50 and gave the company a “neutral” rating in a report on Friday, January 17th. Finally, Bank of America increased their target price on First Horizon from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.23.

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.