First Horizon Co. (NYSE:FHN) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its holdings in First Horizon Co. (NYSE:FHN) by 3.3% during the 4th quarter, Holdings Channel reports. The firm owned 280,042 shares of the financial services provider’s stock after selling 9,583 shares during the period. Mutual of America Capital Management LLC’s holdings in First Horizon were worth $5,640,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of FHN. CIBC Asset Management Inc lifted its stake in shares of 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 valued at $254,000 after buying an additional 559 shares during the period. Covestor Ltd lifted its stake in shares of First Horizon by 44.0% during the third quarter. Covestor Ltd now owns 2,130 shares of the financial services provider’s stock valued at $34,000 after buying an additional 651 shares during the period. Access Investment Management LLC lifted its stake in shares of First Horizon by 0.8% during 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 buying an additional 675 shares during the period. CreativeOne Wealth LLC lifted its stake in shares of First Horizon by 7.1% during the third quarter. CreativeOne Wealth LLC now owns 11,665 shares of the financial services provider’s stock valued at $181,000 after buying an additional 773 shares during the period. Finally, Pacer Advisors Inc. lifted its stake in shares of First Horizon by 1.1% during the fourth quarter. Pacer Advisors Inc. now owns 79,022 shares of the financial services provider’s stock valued at $1,592,000 after buying an additional 824 shares during the period. 80.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on FHN shares. Stephens reissued an “overweight” rating and set a $24.00 price objective on shares of First Horizon in a research note on Friday, January 17th. Barclays upped their price objective on shares of First Horizon from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Bank of America increased their price target on shares of First Horizon from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Citigroup increased their price target on shares of First Horizon from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday. Finally, UBS Group initiated coverage on shares of First Horizon in a research note on Tuesday, December 17th. They set a “buy” rating and a $25.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.23.

First Horizon Price Performance

First Horizon stock opened at $20.89 on Tuesday. First Horizon Co. has a 52-week low of $13.72 and a 52-week high of $22.44. The firm has a fifty day moving average of $21.18 and a 200-day moving average of $18.95. The firm has a market capitalization of $11.07 billion, a P/E ratio of 15.36, a PEG ratio of 1.19 and a beta of 0.92. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14.

First Horizon (NYSE:FHN) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.05. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. During the same quarter last year, the business posted $0.32 earnings per share. As a group, analysts predict that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Announces Dividend

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 issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend is Friday, March 14th. First Horizon’s payout ratio is 44.12%.

Insider Activity at First Horizon

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $21.13, for a total transaction of $2,323,877.40. Following the completion of the transaction, the chief executive officer now directly owns 1,861,381 shares of the company’s stock, valued at $39,330,980.53. This trade represents a 5.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.87% of the company’s stock.

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.