Ethic Inc. Has $534,000 Stake in First Horizon Co. (NYSE:FHN)

Ethic Inc. trimmed its position in shares of First Horizon Co. (NYSE:FHN) by 51.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,535 shares of the financial services provider’s stock after selling 27,650 shares during the period. Ethic Inc.’s holdings in First Horizon were worth $534,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its stake in First Horizon by 26.2% during the fourth quarter. Bank of New York Mellon Corp now owns 37,131,162 shares of the financial services provider’s stock worth $747,822,000 after buying an additional 7,715,191 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in First Horizon by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 19,869,403 shares of the financial services provider’s stock worth $400,173,000 after buying an additional 97,429 shares in the last quarter. Norges Bank bought a new position in shares of First Horizon in the fourth quarter worth about $132,418,000. JPMorgan Chase & Co. lifted its holdings in shares of First Horizon by 160.1% in the fourth quarter. JPMorgan Chase & Co. now owns 5,524,827 shares of the financial services provider’s stock worth $111,270,000 after acquiring an additional 3,400,811 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of First Horizon in the fourth quarter worth about $102,467,000. 80.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Baird R W raised shares of First Horizon from a “hold” rating to a “strong-buy” rating in a report on Monday, April 7th. Keefe, Bruyette & Woods dropped their target price on shares of First Horizon from $24.00 to $22.00 and set a “market perform” rating for the company in a report on Thursday, April 17th. Bank of America increased their target price on shares of First Horizon from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. Royal Bank of Canada dropped their target price on shares of First Horizon from $24.00 to $22.00 and set an “outperform” rating for the company in a report on Thursday, April 17th. Finally, Barclays dropped their target price on shares of First Horizon from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, First Horizon has a consensus rating of “Moderate Buy” and an average price target of $21.97.

First Horizon Stock Down 0.2%

First Horizon stock opened at $20.31 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96. First Horizon Co. has a 52-week low of $14.09 and a 52-week high of $22.44. The firm has a 50 day moving average price of $18.36 and a two-hundred day moving average price of $19.77. The firm has a market cap of $10.30 billion, a price-to-earnings ratio of 14.93, a PEG ratio of 1.19 and a beta of 0.59.

First Horizon (NYSE:FHN) last released its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.02. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. The firm had revenue of $823.69 million during the quarter, compared to analyst estimates of $825.11 million. During the same quarter last year, the business earned $0.35 EPS. Equities analysts predict that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend is Friday, June 13th. First Horizon’s dividend payout ratio (DPR) is 41.67%.

First Horizon 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.