Centiva Capital LP Has $2.45 Million Position in First Horizon Co. (NYSE:FHN)

Centiva Capital LP decreased its holdings in First Horizon Co. (NYSE:FHN - Free Report) by 19.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 158,048 shares of the financial services provider's stock after selling 38,178 shares during the quarter. Centiva Capital LP's holdings in First Horizon were worth $2,454,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its holdings in First Horizon by 5.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 309,493 shares of the financial services provider's stock valued at $4,767,000 after buying an additional 17,329 shares in the last quarter. Tidal Investments LLC acquired a new stake in First Horizon in the first quarter valued at $207,000. Cetera Advisors LLC raised its stake in shares of First Horizon by 54.6% during the 1st quarter. Cetera Advisors LLC now owns 28,590 shares of the financial services provider's stock worth $440,000 after buying an additional 10,103 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of First Horizon by 30.8% in the 2nd quarter. GAMMA Investing LLC now owns 6,535 shares of the financial services provider's stock worth $103,000 after buying an additional 1,538 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in First Horizon by 270.0% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 46,608 shares of the financial services provider's stock valued at $735,000 after acquiring an additional 34,011 shares during the last quarter. Institutional investors and hedge funds own 80.28% of the company's stock.

First Horizon Stock Performance

Shares of First Horizon stock traded down $0.14 on Tuesday, reaching $20.59. 1,582,492 shares of the company were exchanged, compared to its average volume of 6,542,053. First Horizon Co. has a 1-year low of $12.95 and a 1-year high of $21.72. The firm has a market cap of $10.92 billion, a price-to-earnings ratio of 14.86, a P/E/G ratio of 1.58 and a beta of 0.91. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96. The company's 50-day moving average is $17.95 and its two-hundred day moving average is $16.49.

First Horizon (NYSE:FHN - Get Free Report) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.04. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $821.63 million. First Horizon had a net margin of 15.43% and a return on equity of 9.51%. During the same quarter in the previous year, the company posted $0.27 earnings per share. As a group, research analysts expect that First Horizon Co. will post 1.49 earnings per share for the current fiscal year.

First Horizon announced that its board has authorized a stock repurchase plan on Tuesday, October 29th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 10.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are undervalued.

First Horizon Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a $0.15 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.60 annualized dividend and a dividend yield of 2.91%. First Horizon's dividend payout ratio is currently 43.48%.

Insider Buying and Selling

In related news, Director Harry V. Barton, Jr. sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $19.92, for a total transaction of $199,200.00. Following the transaction, the director now owns 166,840 shares of the company's stock, valued at approximately $3,323,452.80. This trade represents a 5.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David T. Popwell sold 100,974 shares of the business's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $19.77, for a total value of $1,996,255.98. Following the completion of the sale, the executive vice president now owns 519,926 shares of the company's stock, valued at approximately $10,278,937.02. This trade represents a 16.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.87% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on FHN shares. Barclays increased their target price on First Horizon from $21.00 to $23.00 and gave the company an "overweight" rating in a report on Friday, November 8th. Wedbush cut shares of First Horizon from an "outperform" rating to a "neutral" rating and lowered their price objective for the company from $20.00 to $17.00 in a research note on Tuesday, September 24th. Royal Bank of Canada raised their price objective on First Horizon from $19.00 to $20.00 and gave the company an "outperform" rating in a research report on Thursday, October 17th. Raymond James upped their price objective on shares of First Horizon from $19.00 to $22.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. reduced their price target on First Horizon from $19.00 to $18.00 and set a "neutral" rating for the company in a report on Wednesday, October 9th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, First Horizon has a consensus rating of "Moderate Buy" and a consensus price target of $19.46.

About First Horizon

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.