First Horizon Co. (NYSE:FHN) Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. reduced its holdings in shares of First Horizon Co. (NYSE:FHN) by 12.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,127 shares of the financial services provider’s stock after selling 4,841 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in First Horizon were worth $554,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FHN. Natixis Advisors L.P. increased its stake in shares of First Horizon by 30.2% during the 4th quarter. Natixis Advisors L.P. now owns 278,830 shares of the financial services provider’s stock worth $3,948,000 after purchasing an additional 64,749 shares in the last quarter. Crestline Management LP increased its position in First Horizon by 100.8% during the fourth quarter. Crestline Management LP now owns 400,000 shares of the financial services provider’s stock worth $5,664,000 after buying an additional 200,846 shares in the last quarter. Sei Investments Co. raised its holdings in shares of First Horizon by 57.6% in the first quarter. Sei Investments Co. now owns 426,792 shares of the financial services provider’s stock worth $6,573,000 after acquiring an additional 155,982 shares during the last quarter. LSV Asset Management raised its holdings in shares of First Horizon by 49.8% in the first quarter. LSV Asset Management now owns 13,333,738 shares of the financial services provider’s stock worth $205,340,000 after acquiring an additional 4,434,929 shares during the last quarter. Finally, Greenlight Capital Inc. lifted its position in shares of First Horizon by 6.2% in the fourth quarter. Greenlight Capital Inc. now owns 1,377,090 shares of the financial services provider’s stock valued at $19,500,000 after acquiring an additional 80,070 shares in the last quarter. Institutional investors and hedge funds own 80.28% of the company’s stock.

First Horizon Trading Up 0.7 %

Shares of FHN opened at $16.59 on Monday. First Horizon Co. has a twelve month low of $10.08 and a twelve month high of $17.46. The firm has a market capitalization of $9.07 billion, a P/E ratio of 11.60, a price-to-earnings-growth ratio of 3.36 and a beta of 0.89. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The stock’s fifty day simple moving average is $15.88 and its 200 day simple moving average is $15.28.

First Horizon (NYSE:FHN) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). First Horizon had a return on equity of 8.84% and a net margin of 14.03%. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $819.82 million. During the same quarter last year, the business earned $0.39 earnings per share. On average, equities research analysts forecast that First Horizon Co. will post 1.46 earnings per share for the current year.

First Horizon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, September 13th. This represents a $0.60 dividend on an annualized basis and a yield of 3.62%. First Horizon’s dividend payout ratio (DPR) is 41.96%.

Wall Street Analysts Forecast Growth

FHN has been the subject of a number of recent research reports. Barclays lifted their price objective on First Horizon from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Monday, June 24th. Evercore ISI lowered their price target on shares of First Horizon from $18.50 to $17.50 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Jefferies Financial Group upped their price objective on shares of First Horizon from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Stephens started coverage on shares of First Horizon in a research report on Thursday, May 23rd. They set an “overweight” rating and a $19.00 target price on the stock. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $18.00 price target on shares of First Horizon in a report on Wednesday, July 17th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $17.31.

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.