Commonwealth of Pennsylvania Public School Empls Retrmt SYS Trims Stake in First Horizon Co. (NYSE:FHN)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its stake in First Horizon Co. (NYSE:FHN) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,083 shares of the financial services provider’s stock after selling 1,046 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in First Horizon were worth $2,358,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Citigroup Inc. raised its position in shares of First Horizon by 43.0% in the 3rd quarter. Citigroup Inc. now owns 948,122 shares of the financial services provider’s stock worth $14,724,000 after acquiring an additional 285,108 shares in the last quarter. Cerity Partners LLC raised its holdings in First Horizon by 44.9% in the third quarter. Cerity Partners LLC now owns 114,529 shares of the financial services provider’s stock worth $1,779,000 after purchasing an additional 35,479 shares in the last quarter. Fisher Asset Management LLC raised its holdings in First Horizon by 18.5% in the third quarter. Fisher Asset Management LLC now owns 242,684 shares of the financial services provider’s stock worth $3,769,000 after purchasing an additional 37,939 shares in the last quarter. Dynamic Technology Lab Private Ltd lifted its position in First Horizon by 642.0% during the third quarter. Dynamic Technology Lab Private Ltd now owns 114,869 shares of the financial services provider’s stock valued at $1,784,000 after buying an additional 99,388 shares during the period. Finally, Independent Advisor Alliance boosted its holdings in shares of First Horizon by 3.9% during the 3rd quarter. Independent Advisor Alliance now owns 57,098 shares of the financial services provider’s stock valued at $887,000 after buying an additional 2,157 shares in the last quarter. 80.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at First Horizon

In other news, CEO D Bryan Jordan sold 109,980 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $21.13, for a total transaction 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.87% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on FHN shares. Bank of America increased their price target 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. JPMorgan Chase & Co. raised their target price 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. The Goldman Sachs Group boosted their price target on First Horizon from $18.50 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Royal Bank of Canada upped their price target on First Horizon from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Finally, Barclays lifted their price objective on First Horizon from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.23.

First Horizon Stock Performance

Shares of NYSE FHN opened at $19.67 on Tuesday. The firm’s 50-day moving average price is $20.79 and its 200-day moving average price is $19.25. First Horizon Co. has a 52-week low of $13.72 and a 52-week high of $22.44. The company has a market cap of $10.11 billion, a PE ratio of 14.46, a PEG ratio of 1.19 and a beta of 0.86. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14.

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, topping 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 in the previous year, the company earned $0.32 EPS. As a group, analysts anticipate that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Dividend Announcement

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

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.