First Horizon Co. (NYSE:FHN) Stake Lessened by Duncan Williams Asset Management LLC

Duncan Williams Asset Management LLC reduced its position in First Horizon Co. (NYSE:FHN - Free Report) by 3.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 358,244 shares of the financial services provider's stock after selling 12,371 shares during the quarter. First Horizon accounts for about 2.8% of Duncan Williams Asset Management LLC's holdings, making the stock its 8th largest holding. Duncan Williams Asset Management LLC owned approximately 0.07% of First Horizon worth $7,215,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. UMB Bank n.a. grew its stake in shares of First Horizon by 365.0% during the third quarter. UMB Bank n.a. now owns 1,688 shares of the financial services provider's stock valued at $26,000 after buying an additional 1,325 shares during the last quarter. Nemes Rush Group LLC boosted its holdings in First Horizon by 306.2% during the 2nd quarter. Nemes Rush Group LLC now owns 1,828 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 1,378 shares during the period. Versant Capital Management Inc grew its position in First Horizon by 160.1% during the 4th quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider's stock worth $29,000 after acquiring an additional 884 shares during the last quarter. Covestor Ltd increased its stake in First Horizon by 44.0% in the 3rd quarter. Covestor Ltd now owns 2,130 shares of the financial services provider's stock worth $34,000 after purchasing an additional 651 shares during the period. Finally, True Wealth Design LLC bought a new stake in First Horizon in the third quarter valued at approximately $36,000. 80.28% of the stock is currently owned by institutional investors.

First Horizon Stock Up 0.7 %

Shares of First Horizon stock traded up $0.14 during trading on Friday, hitting $21.05. The company's stock had a trading volume of 6,265,582 shares, compared to its average volume of 4,583,127. First Horizon Co. has a 52 week low of $13.45 and a 52 week high of $21.82. The company has a market capitalization of $11.16 billion, a PE ratio of 15.48, a P/E/G ratio of 1.19 and a beta of 0.92. The company has a fifty day simple moving average of $20.53 and a two-hundred day simple moving average of $17.90. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96.

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 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 quarter in the prior year, the business earned $0.32 earnings per share. Equities research analysts predict that First Horizon Co. will post 1.63 earnings per share for the current year.

First Horizon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.85%. The ex-dividend date was Friday, December 13th. First Horizon's dividend payout ratio (DPR) is 44.12%.

First Horizon announced that its board has approved a stock repurchase program on Tuesday, October 29th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 10.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on FHN shares. Evercore ISI lifted their target price on shares of First Horizon from $18.00 to $20.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Wells Fargo & Company upped their price objective on shares of First Horizon from $21.00 to $22.00 and gave the company an "equal weight" rating in a research note on Friday, January 17th. Bank of America raised their target price on First Horizon from $23.00 to $25.00 and gave the stock a "buy" rating in a research note on Friday, January 17th. JPMorgan Chase & Co. upped their price target on First Horizon from $22.50 to $23.50 and gave the company a "neutral" rating in a research report on Friday, January 17th. Finally, UBS Group assumed coverage on First Horizon in a research report on Tuesday, December 17th. They issued a "buy" rating and a $25.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $22.04.

Insider Transactions at First Horizon

In other news, CEO D Bryan Jordan sold 109,980 shares of the company's stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $21.13, for a total value of $2,323,877.40. Following the transaction, the chief executive officer now owns 1,861,381 shares in the company, valued at approximately $39,330,980.53. This represents a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 sale, the director now directly owns 166,840 shares of the company's stock, valued at $3,323,452.80. This trade represents a 5.65 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 220,954 shares of company stock valued at $4,519,333. Insiders own 0.87% of the company's stock.

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.