Factorial Partners LLC Sells 112,500 Shares of First Horizon Co. (NYSE:FHN)

Factorial Partners LLC lowered its stake in shares of First Horizon Co. (NYSE:FHN) by 63.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 65,000 shares of the financial services provider’s stock after selling 112,500 shares during the quarter. Factorial Partners LLC’s holdings in First Horizon were worth $1,309,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of FHN. Versant Capital Management Inc boosted its holdings in First Horizon by 160.1% during the 4th quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 884 shares during the last quarter. Kentucky Trust Co bought a new position in shares of First Horizon during the fourth quarter valued at about $32,000. Covestor Ltd boosted its holdings in First Horizon by 44.0% during the third quarter. Covestor Ltd now owns 2,130 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 651 shares during the last quarter. True Wealth Design LLC purchased a new position in First Horizon during the third quarter worth about $36,000. Finally, MassMutual Private Wealth & Trust FSB grew its position in First Horizon by 335.6% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 2,000 shares in the last quarter. Institutional investors own 80.28% of the company’s stock.

Wall Street Analysts Forecast Growth

FHN has been the topic of a number of research analyst reports. Raymond James boosted their target price on First Horizon from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Bank of America boosted their price objective on First Horizon from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Keefe, Bruyette & Woods raised their target price on First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. Citigroup boosted their price target on shares of First Horizon from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Friday. Finally, JPMorgan Chase & Co. raised their price objective on shares of First Horizon from $22.50 to $23.50 and gave the stock a “neutral” rating in a report on Friday, January 17th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, First Horizon currently has a consensus rating of “Moderate Buy” and an average price target of $22.23.

First Horizon Stock Up 2.5 %

FHN opened at $21.55 on Friday. The company has a 50 day moving average of $21.17 and a 200 day moving average of $18.86. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. First Horizon Co. has a 12 month low of $13.72 and a 12 month high of $22.44. The company has a market cap of $11.42 billion, a PE ratio of 15.84, a price-to-earnings-growth ratio of 1.19 and a beta of 0.92.

First Horizon (NYSE:FHN) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.05. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. During the same period last year, the company earned $0.32 earnings per share. On average, sell-side analysts expect that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Friday, March 14th. First Horizon’s payout ratio is presently 44.12%.

Insider Activity

In related news, CEO D Bryan Jordan sold 109,980 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $21.13, for a total transaction of $2,323,877.40. Following the sale, the chief executive officer now owns 1,861,381 shares of the company’s stock, valued at approximately $39,330,980.53. This represents a 5.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.87% of the company’s stock.

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.