First Horizon Co. (NYSE:FHN) Shares Sold by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. lessened its position in First Horizon Co. (NYSE:FHN) by 15.8% in the 2nd quarter, Holdings Channel reports. The fund owned 4,481 shares of the financial services provider’s stock after selling 844 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in First Horizon were worth $70,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Crestline Management LP lifted its stake in shares of First Horizon by 100.8% in the 4th quarter. Crestline Management LP now owns 400,000 shares of the financial services provider’s stock worth $5,664,000 after acquiring an additional 200,846 shares during the period. Sei Investments Co. increased its holdings in shares of First Horizon by 57.6% in the 1st quarter. Sei Investments Co. now owns 426,792 shares of the financial services provider’s stock valued at $6,573,000 after purchasing an additional 155,982 shares in the last quarter. LSV Asset Management increased its holdings in shares of First Horizon by 49.8% in the 1st quarter. LSV Asset Management now owns 13,333,738 shares of the financial services provider’s stock valued at $205,340,000 after purchasing an additional 4,434,929 shares in the last quarter. Greenlight Capital Inc. increased its holdings in shares of First Horizon by 6.2% in the 4th quarter. Greenlight Capital Inc. now owns 1,377,090 shares of the financial services provider’s stock valued at $19,500,000 after purchasing an additional 80,070 shares in the last quarter. Finally, Point72 Europe London LLP purchased a new position in shares of First Horizon in the 4th quarter valued at about $6,785,000. Institutional investors and hedge funds own 80.28% of the company’s stock.

First Horizon Stock Performance

Shares of NYSE FHN opened at $15.51 on Friday. The company has a market cap of $8.48 billion, a PE ratio of 10.85, a price-to-earnings-growth ratio of 3.17 and a beta of 0.88. First Horizon Co. has a 12 month low of $10.08 and a 12 month high of $17.46. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.95. The company has a 50-day simple moving average of $15.84 and a 200-day simple moving average of $15.47.

First Horizon (NYSE:FHN) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $819.82 million. First Horizon had a return on equity of 8.84% and a net margin of 14.03%. During the same quarter last year, the firm earned $0.39 earnings per share. On average, equities analysts anticipate that First Horizon Co. will post 1.46 earnings per share for the current year.

First Horizon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.87%. First Horizon’s dividend payout ratio (DPR) is presently 41.96%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FHN. Evercore ISI cut their price target on shares of First Horizon from $19.50 to $18.50 and set an “outperform” rating for the company in a report on Tuesday, September 17th. Barclays increased their price target on shares of First Horizon from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Monday, June 24th. StockNews.com upgraded shares of First Horizon from a “sell” rating to a “hold” rating in a report on Saturday, July 20th. Jefferies Financial Group increased their price target on shares of First Horizon from $17.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Finally, Royal Bank of Canada raised their target price on shares of First Horizon from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $17.38.

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.