Commonwealth of Pennsylvania Public School Empls Retrmt SYS Lowers Position in First Horizon Co. (NYSE:FHN)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its stake in First Horizon Co. (NYSE:FHN) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 117,083 shares of the financial services provider’s stock after selling 1,046 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in First Horizon were worth $2,358,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp increased its holdings in First Horizon by 26.2% in the 4th quarter. Bank of New York Mellon Corp now owns 37,131,162 shares of the financial services provider’s stock worth $747,822,000 after acquiring an additional 7,715,191 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in First Horizon in the 4th quarter worth $102,467,000. State Street Corp lifted its position in shares of First Horizon by 18.6% in the third quarter. State Street Corp now owns 26,236,784 shares of the financial services provider’s stock valued at $410,789,000 after acquiring an additional 4,116,486 shares in the last quarter. Amundi boosted its stake in shares of First Horizon by 255.6% in the fourth quarter. Amundi now owns 3,733,831 shares of the financial services provider’s stock worth $77,104,000 after acquiring an additional 2,683,746 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in shares of First Horizon in the third quarter worth about $39,242,000. Institutional investors own 80.28% of the company’s stock.

First Horizon Stock Up 1.9 %

NYSE FHN opened at $19.67 on Tuesday. First Horizon Co. has a 52 week low of $13.72 and a 52 week high of $22.44. The firm has a market capitalization of $10.11 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 1.19 and a beta of 0.86. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. The company has a fifty day moving average of $20.79 and a two-hundred day moving average of $19.25.

First Horizon (NYSE:FHN) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 EPS for the quarter, beating 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 quarter in the prior year, the business posted $0.32 EPS. On average, 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 declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.60 annualized dividend and a dividend yield of 3.05%. First Horizon’s payout ratio is 44.12%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FHN. Wells Fargo & Company upped their price target on First Horizon from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Keefe, Bruyette & Woods upped their target price on shares of First Horizon from $23.00 to $24.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. UBS Group initiated coverage on shares of First Horizon in a report on Tuesday, December 17th. They issued a “buy” rating and a $25.00 price target on the stock. Citigroup increased their price objective on shares of First Horizon from $24.00 to $25.00 and gave the company a “buy” rating in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. lifted their target price on First Horizon from $22.50 to $23.50 and gave the stock a “neutral” rating in a report on Friday, January 17th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, First Horizon currently has an average rating of “Moderate Buy” and an average target price of $22.23.

Insider Buying and Selling

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 1,861,381 shares in the company, valued at $39,330,980.53. This trade represents a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.87% of the stock is owned by corporate insiders.

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.