Ferguson Wellman Capital Management Inc. Decreases Holdings in First Horizon Co. (NYSE:FHN)

Ferguson Wellman Capital Management Inc. trimmed its stake in First Horizon Co. (NYSE:FHNGet 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 (NYSE:FHNGet Rating) last posted its quarterly earnings data on Tuesday, July 19th. The financial services provider reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). First Horizon had a return on equity of 12.27% and a net margin of 26.78%. During the same quarter in the previous year, the business earned $0.58 earnings per share. As a group, equities research analysts predict that First Horizon Co. will post 1.56 earnings per share for the current year.

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

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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.

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

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