First Horizon Co. (NYSE:FHN) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC reduced its stake in shares of First Horizon Co. (NYSE:FHN) by 19.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,626,107 shares of the financial services provider’s stock after selling 1,377,984 shares during the period. Clearbridge Investments LLC owned approximately 1.06% of First Horizon worth $113,310,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Versant Capital Management Inc lifted its position in First Horizon by 160.1% during the 4th quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 884 shares during the period. Jones Financial Companies Lllp purchased a new position in shares of First Horizon in the fourth quarter worth about $30,000. Kentucky Trust Co acquired a new stake in shares of First Horizon during the fourth quarter worth about $32,000. True Wealth Design LLC purchased a new stake in First Horizon in the third quarter valued at approximately $36,000. Finally, Lee Danner & Bass Inc. acquired a new position in First Horizon in the 4th quarter worth approximately $50,000. 80.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at First Horizon

In other news, CEO D Bryan Jordan sold 109,980 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $21.13, for a total value of $2,323,877.40. Following the completion of the sale, the chief executive officer now directly owns 1,861,381 shares in the company, valued at $39,330,980.53. This represents a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.87% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Royal Bank of Canada upped their price objective on shares of First Horizon from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Keefe, Bruyette & Woods increased their price target on 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 started coverage on First Horizon in a research note on Tuesday, December 17th. They set a “buy” rating and a $25.00 price objective for the company. Citigroup upped their target price on First Horizon from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Finally, Barclays lifted their price target on First Horizon from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.23.

First Horizon Stock Down 0.2 %

Shares of NYSE FHN opened at $19.24 on Monday. First Horizon Co. has a 52-week low of $13.72 and a 52-week high of $22.44. 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’s 50-day simple moving average is $20.65 and its 200-day simple moving average is $19.36. The firm has a market cap of $9.89 billion, a price-to-earnings ratio of 14.14, a price-to-earnings-growth ratio of 1.19 and a beta of 0.86.

First Horizon (NYSE:FHN) last posted 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 period in the previous year, the business posted $0.32 EPS. Equities analysts predict that First Horizon Co. will post 1.67 EPS for the current fiscal year.

First Horizon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.12%. The ex-dividend date is Friday, March 14th. First Horizon’s dividend payout ratio is currently 44.12%.

First Horizon Company 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.