Thoroughbred Financial Services LLC Reduces Position in First Horizon Co. (NYSE:FHN)

Thoroughbred Financial Services LLC lessened its holdings in shares of First Horizon Co. (NYSE:FHN) by 7.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 14,392 shares of the financial services provider’s stock after selling 1,212 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in First Horizon were worth $203,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of FHN. Nisa Investment Advisors LLC raised its stake in shares of First Horizon by 0.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 106,489 shares of the financial services provider’s stock valued at $1,508,000 after acquiring an additional 900 shares in the last quarter. Yousif Capital Management LLC raised its stake in shares of First Horizon by 0.4% during the fourth quarter. Yousif Capital Management LLC now owns 265,607 shares of the financial services provider’s stock valued at $3,761,000 after acquiring an additional 1,068 shares in the last quarter. Red Door Wealth Management LLC raised its stake in shares of First Horizon by 3.4% during the fourth quarter. Red Door Wealth Management LLC now owns 32,239 shares of the financial services provider’s stock valued at $456,000 after acquiring an additional 1,070 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of First Horizon by 0.3% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 505,635 shares of the financial services provider’s stock valued at $5,572,000 after acquiring an additional 1,327 shares in the last quarter. Finally, Peachtree Investment Partners LLC raised its stake in shares of First Horizon by 4.9% during the third quarter. Peachtree Investment Partners LLC now owns 29,486 shares of the financial services provider’s stock valued at $325,000 after acquiring an additional 1,368 shares in the last quarter. Hedge funds and other institutional investors own 80.28% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Barclays assumed coverage on shares of First Horizon in a research note on Friday, March 8th. They issued an “overweight” rating and a $18.00 price objective for the company. Evercore ISI boosted their price objective on shares of First Horizon from $17.00 to $17.50 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Robert W. Baird boosted their price objective on shares of First Horizon from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, April 18th. StockNews.com downgraded shares of First Horizon from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Wells Fargo & Company boosted their price objective on shares of First Horizon from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, First Horizon presently has an average rating of “Moderate Buy” and a consensus price target of $16.36.

First Horizon Price Performance

NYSE:FHN opened at $15.70 on Friday. The firm’s fifty day moving average is $15.14 and its two-hundred day moving average is $14.18. The firm has a market cap of $8.59 billion, a price-to-earnings ratio of 10.98, a PEG ratio of 2.16 and a beta of 0.94. First Horizon Co. has a one year low of $10.08 and a one year high of $16.28. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.95 and a current ratio of 0.96.

First Horizon (NYSE:FHN) last issued its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The business had revenue of $819.00 million during the quarter, compared to the consensus estimate of $809.51 million. First Horizon had a net margin of 16.07% and a return on equity of 8.96%. The company’s revenue was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.46 earnings per share. Research analysts expect that First Horizon Co. will post 1.5 EPS for the current year.

First Horizon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a $0.15 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.82%. First Horizon’s dividend payout ratio (DPR) is currently 41.96%.

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.