Ossiam cut its holdings in First Horizon Co. (NYSE:FHN – Free Report) 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 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.
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