Shelton Capital Management Sells 1,738 Shares of First Horizon Co. (NYSE:FHN)

Shelton Capital Management trimmed its position in First Horizon Co. (NYSE:FHN) by 7.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,226 shares of the financial services provider’s stock after selling 1,738 shares during the quarter. Shelton Capital Management’s holdings in First Horizon were worth $407,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Versant Capital Management Inc boosted its holdings in shares of First Horizon by 160.1% in the fourth quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 884 shares during the period. Jones Financial Companies Lllp acquired a new position in shares of First Horizon during the 4th quarter worth about $30,000. Kentucky Trust Co acquired a new stake in First Horizon in the 4th quarter valued at about $32,000. Lee Danner & Bass Inc. acquired a new stake in shares of First Horizon during the 4th quarter worth approximately $50,000. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of First Horizon by 335.6% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 2,000 shares during the period. 80.28% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO D Bryan Jordan sold 109,980 shares of the firm’s stock in a transaction that occurred 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 approximately $39,330,980.53. This trade represents a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.87% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on FHN. Citigroup lifted their price objective on shares of First Horizon from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Keefe, Bruyette & Woods boosted 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. StockNews.com raised shares of First Horizon from a “sell” rating to a “hold” rating in a research note on Tuesday. Barclays dropped their price objective on shares of First Horizon from $25.00 to $23.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Raymond James reduced their price target on shares of First Horizon from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Wednesday, April 2nd. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.30.

First Horizon Stock Performance

NYSE FHN opened at $18.06 on Thursday. The stock has a 50-day moving average of $19.91 and a two-hundred day moving average of $19.44. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95. The company has a market cap of $9.29 billion, a P/E ratio of 13.28, a P/E/G ratio of 1.19 and a beta of 0.60. First Horizon Co. has a 1-year low of $13.72 and a 1-year high of $22.44.

First Horizon (NYSE:FHN) last posted its earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share for the quarter, beating 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 period last year, the business earned $0.32 EPS. As a group, analysts anticipate that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a $0.15 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a yield of 3.32%. First Horizon’s dividend payout ratio (DPR) is 44.12%.

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.