Wellington Shields & Co. LLC Has $201,000 Stock Position in First Horizon Co. (NYSE:FHN)

Wellington Shields & Co. LLC lowered its position in shares of First Horizon Co. (NYSE:FHN - Free Report) by 66.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,000 shares of the financial services provider's stock after selling 20,000 shares during the period. Wellington Shields & Co. LLC's holdings in First Horizon were worth $201,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Covestor Ltd grew its position in shares of First Horizon by 44.0% during the third quarter. Covestor Ltd now owns 2,130 shares of the financial services provider's stock worth $34,000 after buying an additional 651 shares in the last quarter. Apollon Wealth Management LLC acquired a new stake in shares of First Horizon during the third quarter worth approximately $827,000. Aigen Investment Management LP acquired a new stake in shares of First Horizon during the third quarter worth approximately $219,000. KBC Group NV grew its position in shares of First Horizon by 240.5% during the third quarter. KBC Group NV now owns 47,724 shares of the financial services provider's stock worth $741,000 after buying an additional 33,708 shares in the last quarter. Finally, Curi RMB Capital LLC grew its position in shares of First Horizon by 2.6% during the third quarter. Curi RMB Capital LLC now owns 400,000 shares of the financial services provider's stock worth $6,212,000 after buying an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors own 80.28% of the company's stock.

Wall Street Analysts Forecast Growth

FHN has been the subject of a number of research reports. Keefe, Bruyette & Woods lifted their price objective on shares of First Horizon from $23.00 to $24.00 and gave the stock a "market perform" rating in a report on Thursday, December 19th. Wells Fargo & Company lifted their price objective on shares of First Horizon from $21.00 to $22.00 and gave the stock an "equal weight" rating in a report on Friday, January 17th. UBS Group initiated coverage on shares of First Horizon in a report on Tuesday, December 17th. They issued a "buy" rating and a $25.00 price objective for the company. Stephens reaffirmed an "overweight" rating and issued a $24.00 price objective on shares of First Horizon in a report on Friday, January 17th. Finally, Royal Bank of Canada lifted their price objective on shares of First Horizon from $22.00 to $23.00 and gave the stock an "outperform" rating in a report on Wednesday, December 11th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.23.

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Insider Buying and Selling

In related news, CEO D Bryan Jordan sold 109,980 shares of First Horizon stock in a transaction dated Wednesday, January 22nd. The stock was 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 directly owns 1,861,381 shares of the company's stock, valued at $39,330,980.53. The trade was a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.87% of the stock is owned by corporate insiders.

First Horizon Price Performance

First Horizon stock traded up $0.39 during trading hours on Wednesday, hitting $19.21. 4,603,702 shares of the company traded hands, compared to its average volume of 6,011,851. The firm's 50-day simple moving average is $20.88 and its two-hundred day simple moving average is $19.16. 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 market cap of $10.02 billion, a P/E ratio of 14.12, a P/E/G ratio of 1.19 and a beta of 0.86. First Horizon Co. has a 1-year low of $13.72 and a 1-year high of $22.44.

First Horizon (NYSE:FHN - Get Free Report) last issued its quarterly 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 return on equity of 10.10% and a net margin of 15.38%. During the same quarter last year, the company posted $0.32 earnings per share. As a group, analysts forecast that First Horizon Co. will post 1.67 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date is Friday, March 14th. First Horizon's payout ratio is currently 44.12%.

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.