First Horizon Co. (NYSE:FHN) Shares Sold by Prudential PLC

Prudential PLC reduced its holdings in First Horizon Co. (NYSE:FHN) by 41.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 81,395 shares of the financial services provider’s stock after selling 57,177 shares during the period. Prudential PLC’s holdings in First Horizon were worth $1,639,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in FHN. Versant Capital Management Inc grew its holdings in First Horizon by 160.1% in the 4th quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider’s stock valued at $29,000 after buying an additional 884 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in First Horizon during the fourth quarter worth about $30,000. Kentucky Trust Co acquired a new position in First Horizon in the 4th quarter valued at about $32,000. Lee Danner & Bass Inc. purchased a new stake in shares of First Horizon in the 4th quarter valued at approximately $50,000. Finally, Farther Finance Advisors LLC increased its holdings in shares of First Horizon by 29.9% during the 4th quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider’s stock worth $52,000 after buying an additional 591 shares during the last quarter. 80.28% of the stock is currently owned by hedge funds and other institutional investors.

First Horizon Trading Down 6.1 %

Shares of First Horizon stock opened at $16.16 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The company has a fifty day simple moving average of $20.36 and a 200-day simple moving average of $19.45. The stock has a market cap of $8.31 billion, a price-to-earnings ratio of 11.88, a PEG ratio of 1.19 and a beta of 0.60. First Horizon Co. has a 12-month low of $13.72 and a 12-month high of $22.44.

First Horizon (NYSE:FHN) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (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 quarter last year, the business earned $0.32 EPS. On average, equities analysts forecast that First Horizon Co. will post 1.67 EPS for the current fiscal year.

First Horizon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.71%. The ex-dividend date was Friday, March 14th. First Horizon’s payout ratio is currently 44.12%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FHN. Bank of America increased their price objective on First Horizon from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. JPMorgan Chase & Co. boosted their price objective on shares of First Horizon from $22.50 to $23.50 and gave the company a “neutral” rating in a report on Friday, January 17th. Raymond James dropped their price objective on First Horizon from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Wednesday, April 2nd. StockNews.com cut First Horizon from a “hold” rating to a “sell” rating in a report on Monday, March 31st. Finally, Wells Fargo & Company increased their price target on shares of First Horizon from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.23.

Insider Transactions at First Horizon

In related news, CEO D Bryan Jordan sold 109,980 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $21.13, for a total value of $2,323,877.40. Following the transaction, the chief executive officer now owns 1,861,381 shares in the company, valued at $39,330,980.53. The trade was a 5.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 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.