Leeward Investments LLC MA Sells 12,546 Shares of First Horizon Co. (NYSE:FHN)

Leeward Investments LLC MA cut its stake in shares of First Horizon Co. (NYSE:FHN) by 0.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,197,369 shares of the financial services provider’s stock after selling 12,546 shares during the quarter. First Horizon makes up approximately 1.5% of Leeward Investments LLC MA’s portfolio, making the stock its 5th biggest position. Leeward Investments LLC MA owned 0.40% of First Horizon worth $33,839,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Rise Advisors LLC acquired a new position in First Horizon during the 1st quarter worth approximately $25,000. Raleigh Capital Management Inc. acquired a new position in shares of First Horizon during the fourth quarter worth $28,000. Fortitude Family Office LLC increased its holdings in First Horizon by 129.3% in the first quarter. Fortitude Family Office LLC now owns 1,954 shares of the financial services provider’s stock valued at $30,000 after buying an additional 1,102 shares during the last quarter. Richardson Financial Services Inc. acquired a new stake in First Horizon in the fourth quarter valued at $35,000. Finally, Byrne Asset Management LLC acquired a new stake in First Horizon in the fourth quarter valued at $40,000. 80.28% of the stock is currently owned by hedge funds and other institutional investors.

First Horizon Stock Performance

NYSE FHN traded down $0.29 during trading hours on Thursday, hitting $15.52. 4,564,250 shares of the stock were exchanged, compared to its average volume of 7,339,210. First Horizon Co. has a 12-month low of $10.08 and a 12-month high of $16.28. The stock has a 50-day moving average of $15.38 and a 200 day moving average of $14.72. The company has a market cap of $8.49 billion, a price-to-earnings ratio of 10.85, a price-to-earnings-growth ratio of 2.12 and a beta of 0.89. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.13.

First Horizon (NYSE:FHN) last issued its earnings results on Wednesday, April 17th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. First Horizon had a return on equity of 8.96% and a net margin of 16.07%. The business had revenue of $819.00 million during the quarter, compared to the consensus estimate of $809.51 million. During the same period in the prior year, the business posted $0.46 EPS. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. As a group, equities research analysts forecast that First Horizon Co. will post 1.51 earnings per share for the current year.

First Horizon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.87%. The ex-dividend date of this dividend was Friday, June 14th. First Horizon’s dividend payout ratio (DPR) is 41.96%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FHN. JPMorgan Chase & Co. increased their price objective on First Horizon from $16.00 to $17.50 and gave the company a “neutral” rating in a report on Thursday, April 4th. StockNews.com upgraded shares of First Horizon from a “sell” rating to a “hold” rating in a research note on Thursday. Evercore ISI cut their price objective on shares of First Horizon from $18.50 to $17.50 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Barclays upped their target price on shares of First Horizon from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Monday, June 24th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $18.00 price target on shares of First Horizon in a research note on Tuesday, June 11th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, First Horizon currently has an average rating of “Moderate Buy” and an average target price of $17.15.

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.