Savant Capital LLC Lowers Stock Holdings in First Horizon Co. (NYSE:FHN)

Savant Capital LLC trimmed its stake in First Horizon Co. (NYSE:FHN - Free Report) by 42.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 63,859 shares of the financial services provider's stock after selling 47,344 shares during the period. Savant Capital LLC's holdings in First Horizon were worth $1,286,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Versant Capital Management Inc increased its position in shares of First Horizon by 160.1% during the fourth 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 period. Covestor Ltd boosted its position in First Horizon by 44.0% during the third quarter. Covestor Ltd now owns 2,130 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 651 shares during the last quarter. True Wealth Design LLC acquired a new stake in First Horizon during the 3rd quarter worth about $36,000. MassMutual Private Wealth & Trust FSB raised its position 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 acquiring an additional 2,000 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in shares of First Horizon by 63.4% in the 4th quarter. UMB Bank n.a. now owns 2,758 shares of the financial services provider's stock valued at $56,000 after purchasing an additional 1,070 shares during the period. 80.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Keefe, Bruyette & Woods raised their target price on First Horizon from $23.00 to $24.00 and gave the stock a "market perform" rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. raised their price objective on shares of First Horizon from $22.50 to $23.50 and gave the stock a "neutral" rating in a research report on Friday, January 17th. UBS Group began coverage on shares of First Horizon in a research report on Tuesday, December 17th. They set a "buy" rating and a $25.00 target price on the stock. Stephens restated an "overweight" rating and issued a $24.00 price target on shares of First Horizon in a report on Friday, January 17th. Finally, Royal Bank of Canada lifted their price target on shares of First Horizon from $22.00 to $23.00 and gave the company an "outperform" rating in a research note on Wednesday, December 11th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, First Horizon presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.04.

Insider Transactions at First Horizon

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the company's stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $21.13, for a total transaction of $2,323,877.40. Following the sale, the chief executive officer now directly owns 1,861,381 shares of the company's stock, valued at $39,330,980.53. This represents a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.87% of the stock is owned by corporate insiders.

First Horizon Stock Performance

FHN stock traded up $0.12 during mid-day trading on Monday, hitting $22.11. The company had a trading volume of 2,806,273 shares, compared to its average volume of 5,906,967. First Horizon Co. has a 12 month low of $13.72 and a 12 month high of $22.44. The stock's fifty day moving average price is $20.93 and its two-hundred day moving average price is $18.51. The firm has a market cap of $11.72 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 1.26 and a beta of 0.92. 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 posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 EPS for the quarter, topping 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 period in the previous year, the firm posted $0.32 EPS. On average, analysts forecast that First Horizon Co. will post 1.64 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 given a dividend of $0.15 per share. The ex-dividend date is Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.71%. First Horizon's dividend payout ratio is presently 44.12%.

First Horizon announced that its Board of Directors has approved a share buyback plan on Tuesday, October 29th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 10.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

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.