Federated Hermes Inc. Has $24.51 Million Holdings in First Horizon Co. (NYSE:FHN)

Federated Hermes Inc. trimmed its holdings in First Horizon Co. (NYSE:FHN - Free Report) by 4.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,216,940 shares of the financial services provider's stock after selling 52,135 shares during the quarter. Federated Hermes Inc. owned 0.23% of First Horizon worth $24,509,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in FHN. Versant Capital Management Inc grew its position in First Horizon by 160.1% in the fourth quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider's stock worth $29,000 after buying an additional 884 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of First Horizon during the fourth quarter valued at $30,000. Kentucky Trust Co acquired a new stake in First Horizon during the 4th quarter worth about $32,000. Lee Danner & Bass Inc. purchased a new stake in First Horizon during the fourth quarter valued at about $50,000. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of First Horizon by 335.6% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider's stock worth $52,000 after buying an additional 2,000 shares during the period. Institutional investors and hedge funds own 80.28% of the company's stock.

Insider Activity

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the firm's 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 sale, the chief executive officer now owns 1,861,381 shares of the company's stock, valued at $39,330,980.53. This trade represents a 5.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.87% of the stock is currently owned by company insiders.

First Horizon Stock Up 1.7 %

NYSE:FHN traded up $0.29 during trading hours on Monday, reaching $17.23. The company's stock had a trading volume of 917,731 shares, compared to its average volume of 6,290,084. The company has a market cap of $8.86 billion, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 1.19 and a beta of 0.60. The business's 50-day moving average is $19.72 and its 200-day moving average is $19.49. First Horizon Co. has a one year low of $13.72 and a one year high of $22.44. 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 (NYSE:FHN - Get Free Report) last announced its earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.05. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. During the same quarter in the previous year, the company 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend was Friday, March 14th. First Horizon's dividend payout ratio is currently 44.12%.

Wall Street Analyst Weigh In

FHN has been the subject of a number of recent analyst reports. UBS Group initiated coverage on shares of First Horizon in a research note on Tuesday, December 17th. They issued a "buy" rating and a $25.00 price objective for the company. StockNews.com raised First Horizon from a "sell" rating to a "hold" rating in a research report on Tuesday, April 8th. Stephens reissued an "overweight" rating and set a $24.00 price target on shares of First Horizon in a research report on Friday, January 17th. Baird R W raised First Horizon from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Finally, Wells Fargo & Company lowered their target price 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. Six equities research 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 presently has an average rating of "Moderate Buy" and a consensus target price of $22.30.

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.