First Horizon Co. (NYSE:FHN) Shares Sold by Radnor Capital Management LLC

Radnor Capital Management LLC lessened its position in shares of First Horizon Co. (NYSE:FHN) by 10.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,950 shares of the financial services provider’s stock after selling 3,500 shares during the period. Radnor Capital Management LLC’s holdings in First Horizon were worth $477,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Fortitude Family Office LLC boosted 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 purchasing an additional 1,102 shares in the last quarter. Wedmont Private Capital grew its position in shares of First Horizon by 13.4% in the 1st quarter. Wedmont Private Capital now owns 36,680 shares of the financial services provider’s stock valued at $551,000 after buying an additional 4,346 shares during the last quarter. Rise Advisors LLC acquired a new stake in First Horizon during the 1st quarter worth $25,000. Chickasaw Capital Management LLC purchased a new stake in First Horizon in the first quarter valued at $213,000. Finally, Los Angeles Capital Management LLC boosted its stake in First Horizon by 55.5% in the first quarter. Los Angeles Capital Management LLC now owns 756,297 shares of the financial services provider’s stock valued at $11,647,000 after acquiring an additional 269,920 shares in the last quarter. 80.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on FHN shares. Stephens started coverage on First Horizon in a research report on Thursday, May 23rd. They issued an “overweight” rating and a $19.00 target price for the company. Wells Fargo & Company raised 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 report on Wednesday, April 10th. JPMorgan Chase & Co. upped their target price on shares of First Horizon from $16.00 to $17.50 and gave the company a “neutral” rating in a report on Thursday, April 4th. Wedbush reissued an “outperform” rating and set a $17.00 price target on shares of First Horizon in a report on Wednesday, April 10th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $18.00 price objective on shares of First Horizon in a research report on Tuesday, June 11th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $16.62.

First Horizon Stock Performance

Shares of FHN opened at $14.72 on Monday. The company has a market capitalization of $8.05 billion, a PE ratio of 10.26, a P/E/G ratio of 1.97 and a beta of 0.91. First Horizon Co. has a 52-week low of $10.08 and a 52-week high of $16.28. The company has a 50-day simple moving average of $15.23 and a 200-day simple moving average of $14.63. 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, beating analysts’ consensus estimates of $0.34 by $0.01. The company had revenue of $819.00 million during the quarter, compared to analysts’ expectations of $809.51 million. First Horizon had a net margin of 16.07% and a return on equity of 8.96%. The firm’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period last year, the company posted $0.46 earnings per share. Equities research analysts predict that First Horizon Co. will post 1.5 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.08%. The ex-dividend date of this dividend is Friday, June 14th. First Horizon’s dividend payout ratio (DPR) is 41.96%.

About First Horizon

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.