First Horizon Co. (NYSE:FHN) Shares Sold by Swiss National Bank

Swiss National Bank lessened its stake in shares of First Horizon Co. (NYSE:FHN - Free Report) by 1.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,054,000 shares of the financial services provider's stock after selling 13,500 shares during the period. Swiss National Bank owned approximately 0.20% of First Horizon worth $21,228,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Citigroup Inc. lifted its stake in First Horizon by 43.0% during the 3rd quarter. Citigroup Inc. now owns 948,122 shares of the financial services provider's stock valued at $14,724,000 after acquiring an additional 285,108 shares during the period. Allen Capital Group LLC lifted its stake in First Horizon by 128.4% during the 3rd quarter. Allen Capital Group LLC now owns 52,612 shares of the financial services provider's stock valued at $817,000 after acquiring an additional 29,581 shares during the period. First Citizens Bank & Trust Co. acquired a new stake in First Horizon during the 4th quarter valued at approximately $304,000. Merit Financial Group LLC acquired a new stake in First Horizon during the 4th quarter valued at approximately $453,000. Finally, Smith Group Asset Management LLC acquired a new stake in First Horizon during the 4th quarter valued at approximately $1,813,000. Hedge funds and other institutional investors own 80.28% of the company's stock.

Insider Transactions at First Horizon

In other news, CEO D Bryan Jordan sold 109,980 shares of the company's stock in a transaction on 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 completion of the sale, the chief executive officer now 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.87% of the company's stock.

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Analyst Upgrades and Downgrades

Several brokerages have commented on FHN. Royal Bank of Canada lifted their price objective 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. Bank of America lifted their price objective on shares of First Horizon from $23.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, January 17th. Keefe, Bruyette & Woods boosted their target price on shares of First Horizon from $23.00 to $24.00 and gave the company a "market perform" rating in a research note on Thursday, December 19th. UBS Group initiated coverage on shares of First Horizon in a research note on Tuesday, December 17th. They issued a "buy" rating and a $25.00 target price for the company. Finally, The Goldman Sachs Group boosted their target price on shares of First Horizon from $18.50 to $23.00 and gave the company a "neutral" rating in a research note on Tuesday, November 26th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, First Horizon currently has an average rating of "Moderate Buy" and a consensus price target of $22.23.

First Horizon Price Performance

NYSE FHN traded up $0.04 on Friday, hitting $19.26. The company had a trading volume of 11,623,347 shares, compared to its average volume of 6,037,149. The company has a market capitalization of $9.90 billion, a PE ratio of 14.16, a PEG ratio of 1.19 and a beta of 0.86. The company's fifty day moving average price is $20.80 and its 200-day moving average price is $19.17. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95. First Horizon Co. has a 12-month low of $13.72 and a 12-month 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 EPS for the quarter, topping the consensus estimate 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 last year, the firm posted $0.32 earnings per share. As a group, analysts predict that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Dividend Announcement

The firm also recently announced 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. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date is Friday, March 14th. First Horizon's payout ratio is 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.