LSV Asset Management Has $273.84 Million Stock Holdings in First Horizon Co. (NYSE:FHN)

LSV Asset Management trimmed its holdings in shares of First Horizon Co. (NYSE:FHN) by 3.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,596,738 shares of the financial services provider’s stock after selling 467,211 shares during the quarter. LSV Asset Management owned 2.56% of First Horizon worth $273,838,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its holdings in First Horizon by 26.2% during the 4th quarter. Bank of New York Mellon Corp now owns 37,131,162 shares of the financial services provider’s stock worth $747,822,000 after acquiring an additional 7,715,191 shares during the last quarter. Geode Capital Management LLC grew its holdings in First Horizon by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 9,346,924 shares of the financial services provider’s stock worth $145,194,000 after acquiring an additional 61,397 shares during the last quarter. Norges Bank bought a new stake in First Horizon during the 4th quarter worth approximately $132,418,000. JPMorgan Chase & Co. grew its holdings in First Horizon by 160.1% during the 4th quarter. JPMorgan Chase & Co. now owns 5,524,827 shares of the financial services provider’s stock worth $111,270,000 after acquiring an additional 3,400,811 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in First Horizon during the 4th quarter worth approximately $102,467,000. 80.28% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO D Bryan Jordan sold 109,980 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 1,861,381 shares in the company, valued at approximately $39,330,980.53. This trade represents a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.87% of the stock is currently owned by corporate insiders.

First Horizon Stock Performance

Shares of FHN stock opened at $18.06 on Thursday. The firm has a 50-day moving average of $19.91 and a 200-day moving average of $19.44. The company has a market cap of $9.29 billion, a P/E ratio of 13.28, a P/E/G ratio of 1.19 and a beta of 0.60. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95. First Horizon Co. has a one year low of $13.72 and a one year high of $22.44.

First Horizon (NYSE:FHN) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 in the prior year, the firm earned $0.32 earnings per share. Equities research analysts forecast that First Horizon Co. will post 1.67 EPS for the current fiscal year.

First Horizon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a yield of 3.32%. First Horizon’s dividend payout ratio (DPR) is presently 44.12%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on FHN shares. Raymond James reduced their price objective 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. Royal Bank of Canada increased their target price on shares of First Horizon from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Baird R W raised shares of First Horizon from a “hold” rating to a “strong-buy” rating in a research note on Monday. JPMorgan Chase & Co. increased their target price on shares of First Horizon from $22.50 to $23.50 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Finally, UBS Group began coverage on shares of First Horizon in a report on Tuesday, December 17th. They set a “buy” rating and a $25.00 price objective on the stock. Six investment 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.30.

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.