First Horizon Co. (NYSE:FHN) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC reduced its stake in shares of First Horizon Co. (NYSE:FHN - Free Report) by 4.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,908,420 shares of the financial services provider's stock after selling 438,504 shares during the quarter. Geode Capital Management LLC owned 1.68% of First Horizon worth $179,473,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings in First Horizon by 26.2% in the fourth quarter. Bank of New York Mellon Corp now owns 37,131,162 shares of the financial services provider's stock valued at $747,822,000 after purchasing an additional 7,715,191 shares during the last quarter. State Street Corp lifted its holdings in shares of First Horizon by 18.6% in the third quarter. State Street Corp now owns 26,236,784 shares of the financial services provider's stock valued at $410,789,000 after purchasing an additional 4,116,486 shares in the last quarter. Norges Bank acquired a new position in shares of First Horizon during the 4th quarter worth approximately $132,418,000. JPMorgan Chase & Co. lifted its stake in 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 buying an additional 3,400,811 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in First Horizon during the 4th quarter valued at $102,467,000. 80.28% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity at First Horizon

In related news, CEO D Bryan Jordan sold 109,980 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 1,861,381 shares in the company, valued at approximately $39,330,980.53. This represents a 5.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.87% of the company's stock.

First Horizon Trading Down 0.1 %

FHN stock traded down $0.02 during trading on Friday, reaching $16.92. 6,616,534 shares of the stock traded hands, compared to its average volume of 6,304,523. The business's 50 day moving average price is $19.72 and its 200-day moving average price is $19.46. The firm has a market capitalization of $8.70 billion, a PE ratio of 12.44, a P/E/G ratio of 1.19 and a beta of 0.60. 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 Co. has a 52-week low of $13.72 and a 52-week high of $22.44.

First Horizon (NYSE:FHN - Get Free Report) last issued 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 posted $0.32 earnings per share. As a group, sell-side analysts forecast that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend was Friday, March 14th. First Horizon's dividend payout ratio is presently 44.12%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Robert W. Baird upgraded First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 price objective on the stock in a research report on Monday. Stephens restated an "overweight" rating and issued a $24.00 target price on shares of First Horizon in a report on Friday, January 17th. Barclays lowered their price target on shares of First Horizon from $25.00 to $23.00 and set an "overweight" rating for the company in a report on Tuesday. Raymond James reduced their price objective on shares of First Horizon from $23.00 to $22.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 2nd. Finally, UBS Group started coverage on shares of First Horizon in a research note on Tuesday, December 17th. They issued a "buy" rating and a $25.00 target price for the company. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.30.

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.