Nuveen Asset Management LLC Has $51.23 Million Stake in First Horizon Co. (NYSE:FHN)

Nuveen Asset Management LLC trimmed its position in shares of First Horizon Co. (NYSE:FHN) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,543,635 shares of the financial services provider’s stock after selling 13,938 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.48% of First Horizon worth $51,229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in FHN. JPMorgan Chase & Co. raised its stake in shares of First Horizon by 160.1% in the 4th quarter. JPMorgan Chase & Co. now owns 5,524,827 shares of the financial services provider’s stock valued at $111,270,000 after acquiring an additional 3,400,811 shares in the last quarter. First Citizens Bank & Trust Co. bought a new position in First Horizon in the 4th quarter worth approximately $304,000. Merit Financial Group LLC bought a new position in First Horizon in the 4th quarter worth approximately $453,000. Smith Group Asset Management LLC acquired a new stake in shares of First Horizon during the 4th quarter worth approximately $1,813,000. Finally, Atria Investments Inc acquired a new stake in First Horizon in the 4th quarter valued at $442,000. 80.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the company. Wells Fargo & Company decreased their price target on First Horizon from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 9th. Robert W. Baird upgraded First Horizon from a “neutral” rating to an “outperform” rating and set a $22.00 price objective for the company in a report on Monday, April 7th. Keefe, Bruyette & Woods dropped their price objective on First Horizon from $24.00 to $22.00 and set a “market perform” rating for the company in a report on Thursday, April 17th. StockNews.com upgraded First Horizon from a “sell” rating to a “hold” rating in a research report on Monday, May 12th. Finally, Barclays decreased their price objective on First Horizon from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.97.

First Horizon Price Performance

Shares of FHN opened at $20.33 on Tuesday. First Horizon Co. has a 12-month low of $14.09 and a 12-month high of $22.44. The business has a 50-day simple moving average of $18.44 and a two-hundred day simple moving average of $19.85. 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 stock has a market cap of $10.31 billion, a PE ratio of 14.95, a PEG ratio of 1.19 and a beta of 0.59.

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

First Horizon Announces Dividend

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

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.