First Horizon Co. (NYSE:FHN) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its stake in shares of First Horizon Co. (NYSE:FHN - Free Report) by 7.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 335,516 shares of the financial services provider's stock after selling 25,500 shares during the quarter. New York State Common Retirement Fund owned about 0.06% of First Horizon worth $6,757,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of FHN. Versant Capital Management Inc raised 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 buying an additional 884 shares during the last quarter. Kentucky Trust Co acquired a new position in shares of First Horizon during the fourth quarter worth about $32,000. Covestor Ltd raised its holdings in 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 purchasing an additional 651 shares in the last quarter. True Wealth Design LLC acquired a new stake in First Horizon in the third quarter valued at about $36,000. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in 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 valued at $52,000 after purchasing an additional 2,000 shares in the last quarter. 80.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FHN has been the subject of a number of analyst reports. UBS Group started coverage on First Horizon in a research note on Tuesday, December 17th. They set a "buy" rating and a $25.00 target price for the company. Barclays increased their price objective on First Horizon from $23.00 to $25.00 and gave the stock an "overweight" rating in a research report on Friday, December 20th. The Goldman Sachs Group boosted their target price on shares of First Horizon from $18.50 to $23.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 26th. Wells Fargo & Company increased their price target on shares of First Horizon from $21.00 to $22.00 and gave the company an "equal weight" rating in a report on Friday, January 17th. Finally, Stephens reissued an "overweight" rating and set a $24.00 price objective on shares of First Horizon in a report on Friday, January 17th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, First Horizon currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.23.

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First Horizon Price Performance

NYSE:FHN traded up $0.53 during trading hours on Friday, reaching $21.55. 6,072,399 shares of the company traded hands, compared to its average volume of 5,614,285. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95. The firm's 50-day moving average is $21.17 and its 200-day moving average is $18.88. The stock has a market cap of $11.42 billion, a P/E ratio of 15.84, a P/E/G ratio of 1.19 and a beta of 0.92. 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 posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 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 earned $0.32 EPS. Equities research analysts expect that First Horizon Co. will post 1.67 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.78%. First Horizon's dividend payout ratio (DPR) is presently 44.12%.

Insider Activity

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of First Horizon 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 completion of the sale, the chief executive officer now directly owns 1,861,381 shares of the company's stock, valued at approximately $39,330,980.53. The trade was a 5.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company 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.