LSV Asset Management Has $273.84 Million Stock Position in First Horizon Co. (NYSE:FHN)

LSV Asset Management reduced its position in shares of First Horizon Co. (NYSE:FHN - Free Report) by 3.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,596,738 shares of the financial services provider's stock after selling 467,211 shares during the quarter. LSV Asset Management owned 2.56% of First Horizon worth $273,838,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Bank of New York Mellon Corp raised its position in First Horizon by 26.2% during 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 buying an additional 7,715,191 shares during the period. Norges Bank acquired a new position in shares of First Horizon in the 4th quarter valued at about $132,418,000. Raymond James Financial Inc. purchased a new stake in shares of First Horizon in the fourth quarter worth approximately $102,467,000. JPMorgan Chase & Co. lifted its position in shares of First Horizon by 160.1% in the fourth quarter. JPMorgan Chase & Co. now owns 5,524,827 shares of the financial services provider's stock worth $111,270,000 after purchasing an additional 3,400,811 shares in the last quarter. Finally, Amundi boosted its holdings in shares of First Horizon by 255.6% during the fourth quarter. Amundi now owns 3,733,831 shares of the financial services provider's stock worth $77,104,000 after purchasing an additional 2,683,746 shares during the period. Hedge funds and other institutional investors own 80.28% of the company's stock.

First Horizon Stock Performance

FHN stock traded up $0.46 during mid-day trading on Tuesday, reaching $17.72. 4,827,992 shares of the stock traded hands, compared to its average volume of 6,304,320. The firm has a market capitalization of $9.11 billion, a PE ratio of 13.03, a P/E/G ratio of 1.19 and a beta of 0.60. The business has a 50-day moving average of $19.63 and a two-hundred day moving average of $19.51. First Horizon Co. has a 52 week low of $13.72 and a 52 week high of $22.44. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14.

First Horizon (NYSE:FHN - Get Free Report) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 EPS for the quarter, topping the consensus estimate 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 period in the prior year, the company posted $0.32 EPS. As a group, equities analysts predict that First Horizon Co. will post 1.67 EPS for the current fiscal year.

First Horizon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a yield of 3.39%. First Horizon's dividend payout ratio is currently 44.12%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company cut their target price on shares of First Horizon from $22.00 to $20.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Citigroup lifted their price objective on First Horizon from $24.00 to $25.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Raymond James lowered their target price on First Horizon from $23.00 to $22.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. raised their price target on First Horizon from $22.50 to $23.50 and gave the stock a "neutral" rating in a research note on Friday, January 17th. Finally, StockNews.com raised First Horizon from a "sell" rating to a "hold" rating in a research note on Tuesday, April 8th. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong 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 $22.30.

Insider Buying and Selling at First Horizon

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 1,861,381 shares in the company, valued at approximately $39,330,980.53. This trade represents a 5.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.87% of the company's stock.

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.