Franklin Street Advisors Inc. NC Sells 3,200 Shares of First Horizon Co. (NYSE:FHN)

Franklin Street Advisors Inc. NC cut its stake in First Horizon Co. (NYSE:FHN) by 16.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,883 shares of the financial services provider’s stock after selling 3,200 shares during the quarter. Franklin Street Advisors Inc. NC’s holdings in First Horizon were worth $245,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Invesco Ltd. lifted its holdings in shares of First Horizon by 20.6% during the 3rd quarter. Invesco Ltd. now owns 3,328,186 shares of the financial services provider’s stock valued at $36,677,000 after buying an additional 567,524 shares during the period. Hsbc Holdings PLC lifted its stake in shares of First Horizon by 98.9% in the 3rd quarter. Hsbc Holdings PLC now owns 434,705 shares of the financial services provider’s stock worth $4,816,000 after purchasing an additional 216,111 shares during the period. Stifel Financial Corp grew its position in First Horizon by 31.8% during the third quarter. Stifel Financial Corp now owns 158,721 shares of the financial services provider’s stock valued at $1,749,000 after buying an additional 38,290 shares during the period. Cary Street Partners Investment Advisory LLC raised its position in First Horizon by 36.8% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 18,535 shares of the financial services provider’s stock worth $204,000 after acquiring an additional 4,985 shares during the period. Finally, Covestor Ltd raised its position in First Horizon by 268.5% in the third quarter. Covestor Ltd now owns 5,034 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 3,668 shares during the period. 80.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on FHN shares. Wells Fargo & Company upped their price objective on First Horizon from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. Wedbush restated an “outperform” rating and set a $17.00 target price on shares of First Horizon in a research note on Wednesday, April 10th. Evercore ISI dropped their price target on shares of First Horizon from $18.50 to $17.50 and set an “outperform” rating for the company in a research report on Tuesday. Stephens initiated coverage on First Horizon in a research report on Thursday, May 23rd. They issued an “overweight” rating and a $19.00 price objective on the stock. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $18.00 price target on shares of First Horizon in a research note on Tuesday, June 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $16.69.

First Horizon Trading Up 0.2 %

Shares of FHN opened at $14.80 on Friday. The firm has a market capitalization of $8.09 billion, a price-to-earnings ratio of 10.35, a PEG ratio of 1.99 and a beta of 0.91. The company has a 50-day moving average of $15.29 and a 200 day moving average of $14.65. First Horizon Co. has a 1-year low of $10.08 and a 1-year high of $16.28. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.95.

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

First Horizon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, June 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.05%. First Horizon’s dividend payout ratio is presently 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.