First Horizon Co. (NYSE:FHN) Shares Sold by North Reef Capital Management LP

North Reef Capital Management LP decreased its stake in First Horizon Co. (NYSE:FHN - Free Report) by 1.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,022,000 shares of the financial services provider's stock after selling 178,000 shares during the quarter. First Horizon makes up about 10.9% of North Reef Capital Management LP's investment portfolio, making the stock its 2nd largest position. North Reef Capital Management LP owned 2.27% of First Horizon worth $242,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Versant Capital Management Inc raised its position in shares of First Horizon by 160.1% in the 4th quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider's stock valued at $29,000 after buying an additional 884 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in shares of First Horizon in the 4th quarter valued at about $30,000. Kentucky Trust Co acquired a new stake in First Horizon in the fourth quarter worth $32,000. Lee Danner & Bass Inc. bought a new stake in First Horizon in the 4th quarter valued at about $50,000. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of 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 purchasing an additional 2,000 shares in the last quarter. Institutional investors own 80.28% of the company's stock.

First Horizon Stock Performance

NYSE:FHN traded up $0.04 during midday trading on Friday, reaching $17.81. The stock had a trading volume of 4,427,713 shares, compared to its average volume of 6,342,063. First Horizon Co. has a 12-month low of $14.09 and a 12-month high of $22.44. The stock has a market cap of $9.16 billion, a P/E ratio of 13.10, a P/E/G ratio of 1.19 and a beta of 0.60. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. The firm has a fifty day simple moving average of $18.74 and a two-hundred day simple moving average of $19.62.

First Horizon (NYSE:FHN - Get Free Report) last announced its earnings results on Wednesday, April 16th. The financial services provider reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.02. The firm had revenue of $823.69 million for the quarter, compared to analysts' expectations of $825.11 million. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. During the same quarter in the prior year, the firm earned $0.35 EPS. On average, equities analysts expect that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.60 annualized dividend and a dividend yield of 3.37%. First Horizon's payout ratio is 41.67%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Royal Bank of Canada decreased their target price on First Horizon from $24.00 to $22.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Keefe, Bruyette & Woods decreased their price objective on First Horizon from $24.00 to $22.00 and set a "market perform" rating on the stock in a research note on Thursday, April 17th. StockNews.com raised First Horizon from a "sell" rating to a "hold" rating in a research note on Tuesday, April 8th. JPMorgan Chase & Co. boosted their price target on shares of First Horizon from $22.50 to $23.50 and gave the stock a "neutral" rating in a research note on Friday, January 17th. Finally, Bank of America raised their price objective on First Horizon from $23.00 to $24.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $22.03.

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.