First Horizon Co. (NYSE:FHN) Shares Sold by Barclays PLC

Barclays PLC cut its stake in shares of First Horizon Co. (NYSE:FHN) by 33.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,251,327 shares of the financial services provider’s stock after selling 635,501 shares during the period. Barclays PLC’s holdings in First Horizon were worth $25,202,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in shares of First Horizon by 160.1% during the fourth quarter. JPMorgan Chase & Co. now owns 5,524,827 shares of the financial services provider’s stock worth $111,270,000 after purchasing an additional 3,400,811 shares in the last quarter. First Citizens Bank & Trust Co. acquired a new position in First Horizon in the 4th quarter worth $304,000. Merit Financial Group LLC purchased a new position in First Horizon in the 4th quarter valued at about $453,000. Smith Group Asset Management LLC acquired a new stake in shares of First Horizon during the fourth quarter valued at about $1,813,000. Finally, Atria Investments Inc purchased a new stake in shares of First Horizon during the fourth quarter worth about $442,000. Hedge funds and other institutional investors own 80.28% of the company’s stock.

First Horizon Stock Performance

FHN opened at $17.07 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $19.22 and its 200-day moving average is $19.50. The stock has a market cap of $8.78 billion, a PE ratio of 12.55, a price-to-earnings-growth ratio of 1.19 and a beta of 0.60. First Horizon Co. has a twelve month low of $14.09 and a twelve month high of $22.44.

First Horizon (NYSE:FHN) last announced its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. The company had revenue of $823.69 million during the quarter, compared to analyst estimates of $825.11 million. During the same quarter in the previous year, the firm posted $0.35 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 business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a dividend of $0.15 per share. The ex-dividend date was Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.51%. First Horizon’s dividend payout ratio (DPR) is 44.12%.

Insider Transactions at First Horizon

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the company’s stock in a transaction that occurred 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 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on FHN shares. Raymond James lowered their price objective on First Horizon from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Wednesday, April 2nd. Barclays decreased their price target on shares of First Horizon from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Stephens reiterated an “overweight” rating and set a $24.00 price objective on shares of First Horizon in a research note on Friday, January 17th. Wells Fargo & Company dropped their target price on shares of First Horizon from $22.00 to $20.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. increased their price target on shares of First Horizon from $22.50 to $23.50 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.03.

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.