BNP Paribas Financial Markets Sells 422,466 Shares of First Horizon Co. (NYSE:FHN)

BNP Paribas Financial Markets lowered its stake in shares of First Horizon Co. (NYSE:FHN) by 81.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 95,159 shares of the financial services provider’s stock after selling 422,466 shares during the quarter. BNP Paribas Financial Markets’ holdings in First Horizon were worth $1,917,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Belpointe Asset Management LLC grew its position in First Horizon by 3.1% during the fourth quarter. Belpointe Asset Management LLC now owns 17,631 shares of the financial services provider’s stock valued at $355,000 after buying an additional 535 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in shares of First Horizon by 3.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 15,731 shares of the financial services provider’s stock worth $317,000 after buying an additional 571 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of First Horizon by 29.9% in the fourth quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider’s stock worth $52,000 after buying an additional 591 shares in the last quarter. Independent Advisor Alliance lifted its holdings in shares of First Horizon by 1.1% in the fourth quarter. Independent Advisor Alliance now owns 57,730 shares of the financial services provider’s stock worth $1,163,000 after buying an additional 632 shares in the last quarter. Finally, Access Investment Management LLC lifted its holdings in shares of First Horizon by 0.8% in the fourth quarter. Access Investment Management LLC now owns 88,490 shares of the financial services provider’s stock worth $1,782,000 after buying an additional 675 shares in the last quarter. Institutional investors own 80.28% of the company’s stock.

First Horizon Stock Up 0.5%

Shares of NYSE FHN opened at $20.36 on Friday. First Horizon Co. has a one year low of $14.09 and a one year 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’s 50 day simple moving average is $18.40 and its two-hundred day simple moving average is $19.81. The stock has a market capitalization of $10.32 billion, a P/E ratio of 14.97, a PEG ratio of 1.19 and a beta of 0.59.

First Horizon (NYSE:FHN) last issued its earnings results on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.02. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. The firm had revenue of $823.69 million for the quarter, compared to analysts’ expectations of $825.11 million. During the same quarter last year, the business earned $0.35 earnings per share. As a group, analysts expect that First Horizon Co. will post 1.67 EPS for the current fiscal year.

First Horizon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.95%. The ex-dividend date is Friday, June 13th. First Horizon’s dividend payout ratio is 41.67%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada lowered their target price on shares of First Horizon from $24.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, April 17th. Raymond James lowered their target price on shares of First Horizon from $23.00 to $22.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 2nd. Wells Fargo & Company lowered their target price on shares of First Horizon from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 9th. Truist Financial assumed coverage on shares of First Horizon in a research note on Tuesday, May 13th. They issued a “hold” rating and a $21.00 target price on the stock. Finally, Keefe, Bruyette & Woods lowered their target price on shares of First Horizon from $24.00 to $22.00 and set a “market perform” rating on the stock in a research note on Thursday, April 17th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.97.

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.