First Horizon Co. (NYSE:FHN) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in First Horizon Co. (NYSE:FHN - Free Report) by 11.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,375,499 shares of the financial services provider's stock after selling 176,318 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.26% of First Horizon worth $21,362,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in FHN. UMB Bank n.a. raised its stake in First Horizon by 365.0% in the 3rd quarter. UMB Bank n.a. now owns 1,688 shares of the financial services provider's stock worth $26,000 after acquiring an additional 1,325 shares during the last quarter. Family Firm Inc. purchased a new position in shares of First Horizon during the 2nd quarter valued at approximately $28,000. Nemes Rush Group LLC lifted its stake in shares of First Horizon by 306.2% in the 2nd quarter. Nemes Rush Group LLC now owns 1,828 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 1,378 shares during the period. Industrial Alliance Investment Management Inc. purchased a new stake in First Horizon during the second quarter worth $31,000. Finally, Covestor Ltd grew 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 buying an additional 651 shares during the period. 80.28% of the stock is owned by institutional investors and hedge funds.

First Horizon Stock Up 0.4 %

Shares of FHN traded up $0.09 during mid-day trading on Friday, hitting $20.69. 5,772,726 shares of the company's stock were exchanged, compared to its average volume of 6,527,728. The stock's 50-day moving average is $18.27 and its 200-day moving average is $16.58. 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 Co. has a fifty-two week low of $12.95 and a fifty-two week high of $21.72. The company has a market cap of $10.97 billion, a price-to-earnings ratio of 14.91, a P/E/G ratio of 1.54 and a beta of 0.91.

First Horizon (NYSE:FHN - Get Free Report) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $0.42 EPS for the quarter, beating the consensus estimate of $0.38 by $0.04. The company had revenue of $1.32 billion during the quarter, compared to analysts' expectations of $821.63 million. First Horizon had a net margin of 15.43% and a return on equity of 9.51%. During the same quarter last year, the company posted $0.27 EPS. On average, sell-side analysts anticipate that First Horizon Co. will post 1.49 earnings per share for the current fiscal year.

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

First Horizon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Friday, December 13th. First Horizon's payout ratio is presently 43.48%.

Insider Activity

In other First Horizon news, EVP David T. Popwell sold 100,974 shares of First Horizon stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $19.77, for a total transaction of $1,996,255.98. Following the completion of the sale, the executive vice president now directly owns 519,926 shares of the company's stock, valued at $10,278,937.02. The trade was a 16.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Harry V. Barton, Jr. sold 10,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $19.92, for a total value of $199,200.00. Following the completion of the transaction, the director now owns 166,840 shares in the company, valued at approximately $3,323,452.80. The trade was a 5.65 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.87% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FHN. Wedbush cut First Horizon from an "outperform" rating to a "neutral" rating and reduced their price target for the stock from $20.00 to $17.00 in a report on Tuesday, September 24th. Royal Bank of Canada raised their price target on shares of First Horizon from $19.00 to $20.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Stephens boosted their price target on First Horizon from $18.00 to $20.00 and gave the stock an "overweight" rating in a research report on Thursday, October 17th. Raymond James upped their price objective on shares of First Horizon from $19.00 to $22.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Finally, Evercore ISI raised their target price on shares of First Horizon from $18.00 to $20.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $19.46.

About First Horizon

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.