Thrivent Financial for Lutherans Sells 371,046 Shares of First Horizon Co. (NYSE:FHN)

Thrivent Financial for Lutherans decreased its stake in First Horizon Co. (NYSE:FHN) by 59.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 251,435 shares of the financial services provider’s stock after selling 371,046 shares during the period. Thrivent Financial for Lutherans’ holdings in First Horizon were worth $5,064,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in FHN. Versant Capital Management Inc increased its stake in shares of First Horizon by 160.1% during the 4th quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 884 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in First Horizon in the fourth quarter worth $30,000. Kentucky Trust Co bought a new stake in shares of First Horizon in the fourth quarter valued at $32,000. True Wealth Design LLC purchased a new position in shares of First Horizon during the 3rd quarter valued at $36,000. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of First Horizon by 335.6% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 2,000 shares during the period. Institutional investors own 80.28% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on FHN shares. Royal Bank of Canada boosted their price objective on First Horizon from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. upped their price target on shares of First Horizon from $22.50 to $23.50 and gave the company a “neutral” rating in a research note on Friday, January 17th. Wells Fargo & Company lifted their price objective on shares of First Horizon from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. Citigroup increased their target price on First Horizon from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Finally, The Goldman Sachs Group lifted their price target on First Horizon from $18.50 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.23.

First Horizon Stock Up 1.9 %

FHN stock opened at $19.67 on Tuesday. First Horizon Co. has a 1-year low of $13.72 and a 1-year high of $22.44. The stock has a market cap of $10.11 billion, a price-to-earnings ratio of 14.46, a price-to-earnings-growth ratio of 1.19 and a beta of 0.86. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The company’s 50 day moving average is $20.79 and its 200 day moving average is $19.25.

First Horizon (NYSE:FHN) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.05. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. During the same quarter in the previous year, the company posted $0.32 EPS. Sell-side analysts predict that First Horizon Co. will post 1.67 EPS for the current fiscal year.

First Horizon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date is Friday, March 14th. First Horizon’s payout ratio is currently 44.12%.

Insider Activity

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $21.13, for a total value of $2,323,877.40. Following the completion of the sale, the chief executive officer now owns 1,861,381 shares of the company’s stock, valued at $39,330,980.53. This represents a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.87% of the company’s stock.

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 Regional Banking and Specialty Banking segments. It offers general banking services for consumers, businesses, financial institutions, and governments.