Boston Partners Decreases Position in First Horizon Co. (NYSE:FHN)

Boston Partners decreased its holdings in shares of First Horizon Co. (NYSE:FHNGet Rating) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 515,598 shares of the financial services provider’s stock after selling 3,335 shares during the quarter. Boston Partners owned 0.09% of First Horizon worth $8,422,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Guggenheim Capital LLC grew its stake in shares of First Horizon by 2.9% during the third quarter. Guggenheim Capital LLC now owns 1,144,669 shares of the financial services provider’s stock valued at $18,647,000 after buying an additional 32,421 shares during the last quarter. Cornercap Investment Counsel Inc. bought a new position in shares of First Horizon during the third quarter valued at approximately $178,000. Sumitomo Mitsui Trust Holdings Inc. grew its stake in First Horizon by 67.3% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 132,935 shares of the financial services provider’s stock worth $2,166,000 after purchasing an additional 53,475 shares in the last quarter. TPG Financial Advisors LLC grew its stake in First Horizon by 55.5% in the fourth quarter. TPG Financial Advisors LLC now owns 19,177 shares of the financial services provider’s stock worth $313,000 after purchasing an additional 6,847 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. bought a new position in First Horizon in the fourth quarter worth approximately $101,000. 80.70% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Chairman Daryl G. Byrd sold 155,328 shares of the firm’s stock in a transaction dated Tuesday, February 1st. The stock was sold at an average price of $17.27, for a total transaction of $2,682,514.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.55% of the stock is owned by company insiders.

Shares of NYSE FHN traded up $0.04 during trading on Monday, reaching $23.08. 44,397 shares of the company traded hands, compared to its average volume of 9,694,270. The firm’s fifty day simple moving average is $21.85 and its 200 day simple moving average is $18.68. The stock has a market cap of $12.32 billion, a P/E ratio of 13.24 and a beta of 1.18. First Horizon Co. has a 12-month low of $14.67 and a 12-month high of $24.24. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.20.

First Horizon (NYSE:FHNGet Rating) last released its quarterly earnings data on Thursday, January 20th. The financial services provider reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.10. First Horizon had a return on equity of 14.69% and a net margin of 30.85%. The business had revenue of $745.00 million during the quarter, compared to analyst estimates of $730.51 million. During the same quarter last year, the business posted $0.46 EPS. As a group, research analysts expect that First Horizon Co. will post 1.51 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 1st. Stockholders of record on Friday, March 11th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend was Thursday, March 10th. First Horizon’s dividend payout ratio (DPR) is presently 34.48%.

Several brokerages recently issued reports on FHN. Hovde Group cut First Horizon from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 2nd. Janney Montgomery Scott lowered First Horizon from a “buy” rating to a “neutral” rating in a report on Tuesday, March 1st. Keefe, Bruyette & Woods lowered First Horizon from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $21.00 to $25.00 in a report on Monday, March 7th. Jefferies Financial Group lowered First Horizon from a “buy” rating to a “hold” rating and increased their price objective for the company from $22.00 to $25.00 in a report on Monday, March 7th. Finally, Wells Fargo & Company lowered First Horizon from an “overweight” rating to an “equal weight” rating in a report on Tuesday, March 1st. One research analyst has rated the stock with a sell rating and ten have assigned a hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $20.63.

First Horizon Profile (Get Rating)

First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial services. The company operates through three segments: Regional Banking, Specialty Banking, and Corporate. It offers general banking services for consumers, businesses, financial institutions, and governments.

See Also

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Institutional Ownership by Quarter for First Horizon (NYSE:FHN)

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