First Horizon Co. (NYSE:FHN) Stake Lessened by Stifel Financial Corp

Stifel Financial Corp lessened its stake in shares of First Horizon Co. (NYSE:FHN) by 3.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 82,698 shares of the financial services provider’s stock after selling 2,763 shares during the quarter. Stifel Financial Corp’s holdings in First Horizon were worth $1,666,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in shares of First Horizon by 160.1% in the 4th quarter. JPMorgan Chase & Co. now owns 5,524,827 shares of the financial services provider’s stock worth $111,270,000 after buying an additional 3,400,811 shares in the last quarter. First Citizens Bank & Trust Co. bought a new stake in First Horizon in the fourth quarter worth about $304,000. Merit Financial Group LLC acquired a new stake in First Horizon in the 4th quarter valued at about $453,000. Smith Group Asset Management LLC bought a new position in shares of First Horizon during the 4th quarter valued at about $1,813,000. Finally, Atria Investments Inc acquired a new position in shares of First Horizon in the 4th quarter worth approximately $442,000. Institutional investors own 80.28% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FHN. Robert W. Baird upgraded shares of First Horizon from a “neutral” rating to an “outperform” rating and set a $22.00 target price for the company in a report on Monday, April 7th. StockNews.com cut First Horizon from a “hold” rating to a “sell” rating in a research report on Tuesday, April 29th. Bank of America upped their price objective on shares of First Horizon from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. Keefe, Bruyette & Woods cut their price target on First Horizon from $24.00 to $22.00 and set a “market perform” rating for the company in a research note on Thursday, April 17th. Finally, Royal Bank of Canada decreased their price objective on shares of First Horizon from $24.00 to $22.00 and set an “outperform” rating for the company in a report on Thursday, April 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, First Horizon presently has an average rating of “Moderate Buy” and an average price target of $22.03.

First Horizon Stock Performance

NYSE FHN opened at $18.59 on Wednesday. The company’s fifty day moving average is $18.36 and its two-hundred day moving average is $19.67. First Horizon Co. has a 52-week low of $14.09 and a 52-week high of $22.44. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95. The firm has a market capitalization of $9.56 billion, a price-to-earnings ratio of 13.67, a P/E/G ratio of 1.19 and a beta of 0.59.

First Horizon (NYSE:FHN) last issued its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.02. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. The firm had revenue of $823.69 million for the quarter, compared to analyst estimates of $825.11 million. During the same period in the previous year, the company posted $0.35 earnings per share. Equities research analysts forecast that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, June 13th. This represents a $0.60 dividend on an annualized basis and a yield of 3.23%. First Horizon’s dividend payout ratio is currently 41.67%.

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.