Ferguson Wellman Capital Management Inc. trimmed its stake in First Horizon Co. (NYSE:FHN – Get Rating) by 89.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,085 shares of the financial services provider’s stock after selling 883,248 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in First Horizon were worth $2,253,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of FHN. Geode Capital Management LLC boosted its holdings in First Horizon by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 7,387,286 shares of the financial services provider’s stock worth $120,743,000 after buying an additional 84,473 shares during the period. Invesco Ltd. boosted its holdings in First Horizon by 0.3% in the 4th quarter. Invesco Ltd. now owns 8,065,199 shares of the financial services provider’s stock worth $131,705,000 after buying an additional 26,530 shares during the period. Gotham Asset Management LLC boosted its holdings in First Horizon by 209.7% in the 4th quarter. Gotham Asset Management LLC now owns 33,905 shares of the financial services provider’s stock worth $554,000 after buying an additional 22,956 shares during the period. Parallax Volatility Advisers L.P. bought a new position in First Horizon in the 4th quarter worth $298,000. Finally, Blair William & Co. IL boosted its holdings in First Horizon by 78.5% in the 4th quarter. Blair William & Co. IL now owns 27,789 shares of the financial services provider’s stock worth $454,000 after buying an additional 12,220 shares during the period. 81.49% of the stock is currently owned by hedge funds and other institutional investors.
First Horizon Stock Up 0.2 %
Shares of NYSE:FHN opened at $23.54 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.21. First Horizon Co. has a 12 month low of $15.00 and a 12 month high of $24.24. The company has a 50-day moving average price of $22.83 and a 200 day moving average price of $22.65. The company has a market cap of $12.59 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 2.94 and a beta of 1.04.
First Horizon Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 9th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date is Thursday, September 8th. First Horizon’s dividend payout ratio (DPR) is currently 41.67%.
Wall Street Analyst Weigh In
Several research analysts have commented on FHN shares. Truist Financial increased their price objective on shares of First Horizon to $25.00 in a report on Friday, June 3rd. StockNews.com raised shares of First Horizon from a “sell” rating to a “hold” rating in a report on Wednesday. Nine analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $22.83.
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 three segments: Regional Banking, Specialty Banking, and Corporate. It offers general banking services for consumers, businesses, financial institutions, and governments.
- Get a free copy of the StockNews.com research report on First Horizon (FHN)
- What Steelcase’s Earnings Say About the Return to the Office?
- The Institutions Hold On To Darden Restaurants International
- These 3 Big Dividend Payers Also Boast Strong Price Growth
- Is The Golden Age Of Homebuilding Already Over?
- Natural Gas Prices Continue To Rally, These Stocks Should Benefit
Receive News & Ratings for First Horizon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Horizon and related companies with MarketBeat.com's FREE daily email newsletter.