Ossiam Sells 21,963 Shares of First Horizon Co. (NYSE:FHN)

Ossiam cut its holdings in First Horizon Co. (NYSE:FHN) by 7.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 269,172 shares of the financial services provider’s stock after selling 21,963 shares during the period. Ossiam owned approximately 0.05% of First Horizon worth $4,786,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in FHN. BOKF NA bought a new stake in First Horizon in the first quarter worth $30,000. Grey Fox Wealth Advisors LLC bought a new position in shares of First Horizon during the first quarter valued at about $34,000. FWL Investment Management LLC bought a new position in shares of First Horizon during the fourth quarter valued at about $39,000. Cubist Systematic Strategies LLC bought a new position in shares of First Horizon during the third quarter valued at about $39,000. Finally, Compass Wealth Management LLC bought a new position in shares of First Horizon during the fourth quarter valued at about $49,000. 76.44% of the stock is owned by institutional investors.

First Horizon Price Performance

Shares of FHN opened at $11.83 on Friday. The stock has a market cap of $6.61 billion, a PE ratio of 6.26, a price-to-earnings-growth ratio of 3.23 and a beta of 0.95. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.93 and a current ratio of 0.94. First Horizon Co. has a fifty-two week low of $8.99 and a fifty-two week high of $24.92. The firm’s 50-day simple moving average is $12.71 and its two-hundred day simple moving average is $14.31.

First Horizon (NYSE:FHN) last posted its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. First Horizon had a net margin of 24.64% and a return on equity of 13.44%. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $820.19 million. During the same quarter in the prior year, the company posted $0.34 earnings per share. Analysts anticipate that First Horizon Co. will post 1.49 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.07%. The ex-dividend date of this dividend is Thursday, September 14th. First Horizon’s payout ratio is 31.75%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on FHN shares. Robert W. Baird started coverage on shares of First Horizon in a research note on Tuesday, July 18th. They set a “neutral” rating and a $14.00 price objective for the company. SpectralCast reaffirmed a “reinstates” rating on shares of First Horizon in a research note on Wednesday, June 28th. Raymond James raised shares of First Horizon from a “market perform” rating to an “outperform” rating and set a $13.00 price objective for the company in a research note on Thursday, July 6th. StockNews.com initiated coverage on shares of First Horizon in a research note on Thursday, August 17th. They issued a “sell” rating for the company. Finally, The Goldman Sachs Group initiated coverage on shares of First Horizon in a research note on Wednesday, June 28th. They issued a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $15.42.

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 three segments: Regional Banking, Specialty Banking, and Corporate. It offers general banking services for consumers, businesses, financial institutions, and governments.