Levin Capital Strategies L.P. Has $142,000 Stock Position in First Horizon Co. (NYSE:FHN)

Levin Capital Strategies L.P. lessened its holdings in shares of First Horizon Co. (NYSE:FHN) by 9.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,000 shares of the financial services provider’s stock after selling 1,000 shares during the quarter. Levin Capital Strategies L.P.’s holdings in First Horizon were worth $142,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Macroview Investment Management LLC acquired a new stake in shares of First Horizon during the 3rd quarter worth about $25,000. Byrne Asset Management LLC acquired a new position in shares of First Horizon in the fourth quarter valued at approximately $40,000. Headlands Technologies LLC acquired a new position in shares of First Horizon in the fourth quarter valued at approximately $56,000. Fifth Third Bancorp increased its stake in shares of First Horizon by 59.7% during the fourth quarter. Fifth Third Bancorp now owns 4,805 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 1,797 shares during the period. Finally, GAMMA Investing LLC acquired a new stake in First Horizon during the 4th quarter worth approximately $71,000. Institutional investors own 80.28% of the company’s stock.

Analysts Set New Price Targets

FHN has been the topic of several recent research reports. Royal Bank of Canada upgraded First Horizon from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $16.00 to $18.00 in a research report on Tuesday, April 9th. JPMorgan Chase & Co. boosted their price objective on shares of First Horizon from $16.00 to $17.50 and gave the company a “neutral” rating in a report on Thursday, April 4th. StockNews.com cut shares of First Horizon from a “hold” rating to a “sell” rating in a report on Wednesday. Raymond James upgraded First Horizon from an “outperform” rating to a “strong-buy” rating and boosted their price target for the company from $13.00 to $17.00 in a research note on Friday, January 5th. Finally, Robert W. Baird increased their price target on First Horizon from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, April 18th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $16.15.

First Horizon Price Performance

Shares of FHN stock traded up $0.13 on Friday, reaching $15.80. The company had a trading volume of 11,332,060 shares, compared to its average volume of 7,192,753. The stock has a market capitalization of $8.77 billion, a PE ratio of 11.05, a price-to-earnings-growth ratio of 4.14 and a beta of 0.94. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.13. The business’s 50-day moving average is $14.73 and its 200 day moving average is $13.65. First Horizon Co. has a one year low of $8.99 and a one year high of $15.96.

First Horizon (NYSE:FHN) last announced its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. First Horizon had a return on equity of 8.96% and a net margin of 16.07%. The company had revenue of $819.00 million during the quarter, compared to analysts’ expectations of $809.51 million. During the same period in the prior year, the company earned $0.46 EPS. First Horizon’s revenue was down 4.7% compared to the same quarter last year. Equities research analysts forecast that First Horizon Co. will post 1.5 EPS for the current fiscal year.

First Horizon Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $0.15 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.60 dividend on an annualized basis and a yield of 3.80%. First Horizon’s dividend payout ratio (DPR) is presently 41.96%.

First Horizon declared that its board has initiated a stock buyback plan on Tuesday, January 23rd that allows the company to buyback $650.00 million in shares. This buyback authorization allows the financial services provider to reacquire up to 7.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

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.