Factorial Partners LLC Has $1.31 Million Position in First Horizon Co. (NYSE:FHN)

Factorial Partners LLC decreased its stake in shares of First Horizon Co. (NYSE:FHN - Free Report) by 63.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 65,000 shares of the financial services provider's stock after selling 112,500 shares during the period. Factorial Partners LLC's holdings in First Horizon were worth $1,309,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc grew 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 valued at $29,000 after purchasing an additional 884 shares during the last quarter. Kentucky Trust Co bought a new stake in shares of First Horizon during the 4th quarter worth $32,000. Covestor Ltd boosted its holdings in shares of First Horizon by 44.0% during the 3rd 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. True Wealth Design LLC bought a new position in First Horizon in the 3rd quarter worth $36,000. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in First Horizon by 335.6% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider's stock worth $52,000 after acquiring an additional 2,000 shares during the period. 80.28% of the stock is owned by institutional investors.

Insider Transactions at First Horizon

In related news, CEO D Bryan Jordan sold 109,980 shares of the company's stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $21.13, for a total transaction of $2,323,877.40. Following the transaction, the chief executive officer now owns 1,861,381 shares in the company, valued at $39,330,980.53. This represents a 5.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.87% of the company's stock.

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Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Royal Bank of Canada raised their price target on First Horizon from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Wednesday, December 11th. Bank of America raised their price target on shares of First Horizon from $23.00 to $25.00 and gave the stock a "buy" rating in a research report on Friday, January 17th. UBS Group started coverage on First Horizon in a research note on Tuesday, December 17th. They set a "buy" rating and a $25.00 price target on the stock. Stephens reiterated an "overweight" rating and issued a $24.00 price objective on shares of First Horizon in a research report on Friday, January 17th. Finally, Citigroup boosted their price objective on First Horizon from $24.00 to $25.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, First Horizon currently has an average rating of "Moderate Buy" and an average price target of $22.23.

First Horizon Price Performance

FHN stock traded down $0.17 during trading on Wednesday, hitting $19.85. 8,773,561 shares of the stock traded hands, compared to its average volume of 5,817,551. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The stock has a market cap of $10.52 billion, a price-to-earnings ratio of 14.59, a P/E/G ratio of 1.19 and a beta of 0.92. First Horizon Co. has a one year low of $13.72 and a one year high of $22.44. The company has a 50 day simple moving average of $21.17 and a 200 day simple moving average of $18.98.

First Horizon (NYSE:FHN - Get Free Report) last posted its earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 period in the previous year, the company earned $0.32 earnings per share. Equities analysts expect that First Horizon Co. will post 1.67 EPS for the current fiscal year.

First Horizon Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend is Friday, March 14th. First Horizon's dividend payout ratio is currently 44.12%.

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.