Ferguson Wellman Capital Management Inc. Sells 883,248 Shares of First Horizon Co. (NYSE:FHN)

Ferguson Wellman Capital Management Inc. cut its holdings in shares of First Horizon Co. (NYSE:FHNGet Rating) by 89.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 103,085 shares of the financial services provider’s stock after selling 883,248 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in First Horizon were worth $2,253,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FHN. Geode Capital Management LLC boosted its stake in shares of First Horizon by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 7,387,286 shares of the financial services provider’s stock valued at $120,743,000 after purchasing an additional 84,473 shares in the last quarter. Invesco Ltd. boosted its stake in First Horizon by 0.3% in the fourth quarter. Invesco Ltd. now owns 8,065,199 shares of the financial services provider’s stock valued at $131,705,000 after acquiring an additional 26,530 shares in the last quarter. Gotham Asset Management LLC boosted its stake in First Horizon by 209.7% in the fourth quarter. Gotham Asset Management LLC now owns 33,905 shares of the financial services provider’s stock valued at $554,000 after acquiring an additional 22,956 shares in the last quarter. Parallax Volatility Advisers L.P. acquired a new stake in First Horizon in the fourth quarter valued at approximately $298,000. Finally, Blair William & Co. IL boosted its stake in First Horizon by 78.5% in the fourth quarter. Blair William & Co. IL now owns 27,789 shares of the financial services provider’s stock valued at $454,000 after acquiring an additional 12,220 shares in the last quarter. 81.49% of the stock is currently owned by institutional investors.

First Horizon Trading Up 0.2 %

Shares of First Horizon stock opened at $23.54 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.95 and a quick ratio of 0.94. The firm has a fifty day moving average price of $22.83 and a 200 day moving average price of $22.65. First Horizon Co. has a 1 year low of $15.00 and a 1 year high of $24.24. The stock has a market cap of $12.59 billion, a PE ratio of 16.35, a price-to-earnings-growth ratio of 2.94 and a beta of 1.04.

First Horizon (NYSE:FHNGet Rating) last issued its earnings results on Tuesday, July 19th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.01). First Horizon had a return on equity of 12.27% and a net margin of 26.78%. During the same quarter in the previous year, the firm posted $0.58 EPS. Equities research analysts predict that First Horizon Co. will post 1.56 earnings per share for the current year.

First Horizon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 9th will be issued a dividend of $0.15 per share. The ex-dividend date is Thursday, September 8th. This represents a $0.60 annualized dividend and a dividend yield of 2.55%. First Horizon’s dividend payout ratio (DPR) is presently 41.67%.

Analysts Set New Price Targets

FHN has been the subject of several recent analyst reports. StockNews.com upgraded shares of First Horizon from a “sell” rating to a “hold” rating in a research note on Wednesday. Truist Financial raised their target price on shares of First Horizon to $25.00 in a research note on Friday, June 3rd. Nine equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $22.83.

About First Horizon

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First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial services. The company operates through three segments: Regional Banking, Specialty Banking, and Corporate. It offers general banking services for consumers, businesses, financial institutions, and governments.

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Institutional Ownership by Quarter for First Horizon (NYSE:FHN)

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