First Horizon Co. (NYSE:FHN) Shares Sold by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. cut its holdings in shares of First Horizon Co. (NYSE:FHN) by 71.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,054 shares of the financial services provider’s stock after selling 5,046 shares during the period. Cullen Frost Bankers Inc.’s holdings in First Horizon were worth $41,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of FHN. Versant Capital Management Inc grew its position in shares of 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 valued at $29,000 after acquiring an additional 884 shares during the period. Jones Financial Companies Lllp acquired a new stake in shares of First Horizon during the 4th quarter valued at about $30,000. Kentucky Trust Co acquired a new stake in shares of First Horizon during the 4th quarter valued at about $32,000. Covestor Ltd grew its position in shares of First Horizon by 44.0% during the 3rd quarter. Covestor Ltd now owns 2,130 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 651 shares during the period. Finally, True Wealth Design LLC acquired a new stake in shares of First Horizon during the 3rd quarter valued at about $36,000. 80.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FHN. JPMorgan Chase & Co. raised their target price on First Horizon from $22.50 to $23.50 and gave the company a “neutral” rating in a research report on Friday, January 17th. Royal Bank of Canada raised their price target on shares of First Horizon from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Keefe, Bruyette & Woods raised their price target on shares of First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. Wells Fargo & Company raised their price target on shares of First Horizon from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. Finally, The Goldman Sachs Group raised their price target on shares of First Horizon from $18.50 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.23.

First Horizon Trading Down 1.6 %

FHN opened at $18.93 on Monday. 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 company’s 50 day simple moving average is $21.11 and its two-hundred day simple moving average is $19.05. First Horizon Co. has a 1-year low of $13.72 and a 1-year high of $22.44. The firm has a market capitalization of $9.87 billion, a price-to-earnings ratio of 13.92, a price-to-earnings-growth ratio of 1.19 and a beta of 0.86.

First Horizon (NYSE:FHN) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.38 by $0.05. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. During the same quarter last year, the firm posted $0.32 EPS. Analysts expect that First Horizon Co. will post 1.67 EPS for the current fiscal year.

First Horizon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Friday, March 14th. First Horizon’s payout ratio is presently 44.12%.

Insider Activity

In other news, CEO D Bryan Jordan sold 109,980 shares of First Horizon 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. The trade was a 5.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.87% of the company’s stock.

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 Regional Banking and Specialty Banking segments. It offers general banking services for consumers, businesses, financial institutions, and governments.