Oregon Public Employees Retirement Fund Sells 614 Shares of First Horizon Co. (NYSE:FHN)

Oregon Public Employees Retirement Fund trimmed its stake in shares of First Horizon Co. (NYSE:FHN) by 0.6% in the fourth quarter, HoldingsChannel reports. The firm owned 107,887 shares of the financial services provider’s stock after selling 614 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in First Horizon were worth $2,173,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. CIBC Asset Management Inc boosted its position in First Horizon by 3.5% during the third quarter. CIBC Asset Management Inc now owns 16,330 shares of the financial services provider’s stock worth $254,000 after purchasing an additional 559 shares during the period. Covestor Ltd boosted its position in First Horizon by 44.0% during the third quarter. Covestor Ltd now owns 2,130 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 651 shares during the period. Access Investment Management LLC boosted its position in shares of First Horizon by 0.8% in the fourth quarter. Access Investment Management LLC now owns 88,490 shares of the financial services provider’s stock valued at $1,782,000 after acquiring an additional 675 shares during the period. CreativeOne Wealth LLC boosted its position in shares of First Horizon by 7.1% in the third quarter. CreativeOne Wealth LLC now owns 11,665 shares of the financial services provider’s stock valued at $181,000 after acquiring an additional 773 shares during the period. Finally, Pacer Advisors Inc. boosted its position in shares of First Horizon by 1.1% in the fourth quarter. Pacer Advisors Inc. now owns 79,022 shares of the financial services provider’s stock valued at $1,592,000 after acquiring an additional 824 shares during the period. 80.28% of the stock is owned by institutional investors.

Insider Activity

In other 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 transaction, the chief executive officer now owns 1,861,381 shares of the company’s stock, valued at $39,330,980.53. This represents a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.87% of the stock is currently owned by insiders.

Analysts Set New Price Targets

FHN has been the subject of a number of recent research reports. Wells Fargo & Company boosted their target price on shares of First Horizon from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. Raymond James boosted their target price on shares of First Horizon from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Keefe, Bruyette & Woods boosted their target price on shares of First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. Bank of America boosted their price target on First Horizon from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Finally, Stephens reaffirmed an “overweight” rating and issued a $24.00 price target on shares of First Horizon in a research note on Friday, January 17th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $22.04.

First Horizon Stock Up 0.4 %

Shares of NYSE FHN opened at $21.04 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 company has a market cap of $11.15 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 1.19 and a beta of 0.92. First Horizon Co. has a 12 month low of $13.72 and a 12 month high of $22.44. The stock has a 50-day moving average price of $21.13 and a two-hundred day moving average price of $18.81.

First Horizon (NYSE:FHN) last released its quarterly earnings data 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 period in the prior year, the company earned $0.32 earnings per share. As a group, analysts forecast that First Horizon Co. will post 1.67 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Friday, March 14th. First Horizon’s dividend payout ratio is currently 44.12%.

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.