Kennedy Capital Management LLC Trims Stock Holdings in First Horizon Co. (NYSE:FHN)

Kennedy Capital Management LLC reduced its holdings in shares of First Horizon Co. (NYSE:FHN) by 9.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 397,153 shares of the financial services provider’s stock after selling 39,995 shares during the quarter. Kennedy Capital Management LLC’s holdings in First Horizon were worth $7,999,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Versant Capital Management Inc lifted its position in shares of First Horizon by 160.1% during the fourth 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 in the last quarter. Jones Financial Companies Lllp bought a new stake in shares of First Horizon during the 4th quarter valued at $30,000. Kentucky Trust Co purchased a new stake in First Horizon during the 4th quarter worth about $32,000. Lee Danner & Bass Inc. bought a new position in First Horizon in the 4th quarter worth about $50,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in First Horizon by 335.6% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider’s stock valued at $52,000 after buying an additional 2,000 shares in the last quarter. 80.28% of the stock is owned by institutional investors.

Insider Activity at First Horizon

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.87% of the stock is owned by corporate insiders.

First Horizon Stock Performance

Shares of FHN stock opened at $16.92 on Friday. The company has a market capitalization of $8.70 billion, a P/E ratio of 12.44, a PEG ratio of 1.19 and a beta of 0.60. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96. The stock has a 50 day moving average price of $19.82 and a two-hundred day moving average price of $19.45. First Horizon Co. has a fifty-two week low of $13.72 and a fifty-two week high of $22.44.

First Horizon (NYSE:FHN) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating 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 period in the previous year, the business earned $0.32 EPS. Analysts expect that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a $0.15 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.55%. First Horizon’s dividend payout ratio is currently 44.12%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on FHN shares. Barclays lowered their price target on shares of First Horizon from $25.00 to $23.00 and set an “overweight” rating on the stock in a report on Tuesday. Raymond James reduced their price target on shares of First Horizon from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Wednesday, April 2nd. Bank of America increased 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. StockNews.com upgraded First Horizon from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Wells Fargo & Company lowered their price target on First Horizon from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $22.30.

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.