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

Leeward Investments LLC MA decreased its position in shares of First Horizon Co. (NYSE:FHN) by 5.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,909,224 shares of the financial services provider’s stock after selling 112,921 shares during the period. First Horizon comprises 1.9% of Leeward Investments LLC MA’s holdings, making the stock its 3rd largest holding. Leeward Investments LLC MA’s holdings in First Horizon were worth $38,452,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its holdings in First Horizon by 18.6% during the third quarter. State Street Corp now owns 26,236,784 shares of the financial services provider’s stock valued at $410,789,000 after buying an additional 4,116,486 shares in the last quarter. Point72 Asset Management L.P. bought a new position in First Horizon during the third quarter valued at about $39,242,000. Barclays PLC raised its holdings in First Horizon by 169.1% during the third quarter. Barclays PLC now owns 1,886,828 shares of the financial services provider’s stock valued at $29,301,000 after buying an additional 1,185,772 shares in the last quarter. Quantbot Technologies LP bought a new position in First Horizon during the third quarter valued at about $7,797,000. Finally, BNP Paribas Financial Markets raised its holdings in First Horizon by 590.7% during the third quarter. BNP Paribas Financial Markets now owns 517,625 shares of the financial services provider’s stock valued at $8,039,000 after buying an additional 442,686 shares in the last quarter. Institutional investors and hedge funds own 80.28% of the company’s stock.

First Horizon Trading Down 3.2 %

Shares of FHN opened at $20.85 on Friday. First Horizon Co. has a 12-month low of $13.72 and a 12-month 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 firm has a market capitalization of $11.05 billion, a price-to-earnings ratio of 15.33, a P/E/G ratio of 1.19 and a beta of 0.92. The stock’s 50-day moving average price is $21.04 and its 200 day moving average price is $18.67.

First Horizon (NYSE:FHN) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating 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 quarter last year, the business earned $0.32 EPS. As a group, research analysts predict that First Horizon Co. will post 1.67 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, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.60 annualized dividend and a yield of 2.88%. First Horizon’s dividend payout ratio is 44.12%.

First Horizon announced that its board has authorized a share repurchase plan on Tuesday, October 29th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 10.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Bank of America raised their target price on First Horizon from $23.00 to $25.00 and gave the company a “buy” rating in a report on Friday, January 17th. Evercore ISI raised their target price on First Horizon from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. The Goldman Sachs Group lifted their price objective on First Horizon from $18.50 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Keefe, Bruyette & Woods lifted their price objective on First Horizon from $23.00 to $24.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. Finally, Stephens reiterated an “overweight” rating and issued a $24.00 price objective on shares of First Horizon in a research note on Friday, January 17th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $22.04.

Insider Buying and Selling at First Horizon

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of First Horizon stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $21.13, for a total transaction of $2,323,877.40. Following the sale, the chief executive officer now directly owns 1,861,381 shares of the company’s stock, valued at approximately $39,330,980.53. The trade was a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.87% of the company’s stock.

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.