Savant Capital LLC Sells 47,344 Shares of First Horizon Co. (NYSE:FHN)

Savant Capital LLC reduced its position in First Horizon Co. (NYSE:FHN) by 42.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 63,859 shares of the financial services provider’s stock after selling 47,344 shares during the quarter. Savant Capital LLC’s holdings in First Horizon were worth $1,286,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of FHN. Apollon Wealth Management LLC lifted its holdings in shares of First Horizon by 2.9% during the 4th quarter. Apollon Wealth Management LLC now owns 54,778 shares of the financial services provider’s stock worth $1,103,000 after acquiring an additional 1,521 shares during the period. Lecap Asset Management Ltd. lifted its stake in First Horizon by 18.3% during the fourth quarter. Lecap Asset Management Ltd. now owns 52,698 shares of the financial services provider’s stock worth $1,061,000 after purchasing an additional 8,154 shares during the period. Tandem Financial LLC acquired a new stake in First Horizon during the fourth quarter valued at approximately $74,000. Bleakley Financial Group LLC grew its stake in shares of First Horizon by 4.0% in the 4th quarter. Bleakley Financial Group LLC now owns 30,638 shares of the financial services provider’s stock valued at $617,000 after purchasing an additional 1,186 shares during the period. Finally, Stratos Wealth Partners LTD. acquired a new position in shares of First Horizon in the 4th quarter worth approximately $217,000. Institutional investors and hedge funds own 80.28% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Barclays upped their price target on First Horizon from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. UBS Group began coverage on shares of First Horizon in a report on Tuesday, December 17th. They issued a “buy” rating and a $25.00 target price on the stock. Stephens reissued an “overweight” rating and set a $24.00 price target on shares of First Horizon in a report on Friday, January 17th. Bank of America upped their price objective on shares of First Horizon from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Finally, Evercore ISI lifted their target price on shares of First Horizon from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $22.04.

Insider Activity

In other news, CEO D Bryan Jordan sold 109,980 shares of the company’s stock in a transaction dated 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 directly owns 1,861,381 shares of the company’s stock, valued at $39,330,980.53. This represents a 5.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.87% of the stock is currently owned by company insiders.

First Horizon Trading Down 0.7 %

Shares of FHN opened at $22.01 on Friday. The stock’s fifty day simple moving average is $20.86 and its 200-day simple moving average is $18.40. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $11.67 billion, a PE ratio of 16.18, a price-to-earnings-growth ratio of 1.26 and a beta of 0.92. First Horizon Co. has a 12-month low of $13.69 and a 12-month high of $22.44.

First Horizon (NYSE:FHN) last issued its earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) 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 period last year, the firm posted $0.32 EPS. As a group, research analysts predict that First Horizon Co. will post 1.64 earnings per share for the current year.

First Horizon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Friday, March 14th. First Horizon’s payout ratio is 44.12%.

First Horizon announced that its board has authorized a stock buyback program on Tuesday, October 29th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 10.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

First Horizon Company 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.