Yousif Capital Management LLC Sells 9,372 Shares of First Horizon Co. (NYSE:FHN)

Yousif Capital Management LLC trimmed its stake in shares of First Horizon Co. (NYSE:FHN) by 4.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 192,895 shares of the financial services provider’s stock after selling 9,372 shares during the quarter. Yousif Capital Management LLC’s holdings in First Horizon were worth $3,885,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Versant Capital Management Inc boosted its holdings 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 buying an additional 884 shares during the period. UMB Bank n.a. increased its stake in shares of First Horizon by 365.0% during the third quarter. UMB Bank n.a. now owns 1,688 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 1,325 shares during the period. Covestor Ltd lifted its holdings in First Horizon by 44.0% during the 3rd quarter. Covestor Ltd now owns 2,130 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 651 shares during the last quarter. True Wealth Design LLC bought a new stake in First Horizon in the 3rd quarter valued at $36,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in First Horizon by 335.6% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider’s stock valued at $52,000 after buying an additional 2,000 shares in the last quarter. 80.28% of the stock is currently owned by institutional investors and hedge funds.

First Horizon Trading Down 0.3 %

Shares of First Horizon stock opened at $22.33 on Friday. 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 stock has a fifty day simple moving average of $20.74 and a 200 day simple moving average of $18.25. First Horizon Co. has a 12-month low of $13.46 and a 12-month high of $22.43. The company has a market capitalization of $11.84 billion, a P/E ratio of 16.42, a price-to-earnings-growth ratio of 1.24 and a beta of 0.92.

First Horizon (NYSE:FHN) last announced its earnings results on Thursday, January 16th. The financial services provider reported $0.43 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 in the prior year, the company earned $0.32 earnings per share. On average, sell-side analysts anticipate that First Horizon Co. will post 1.63 earnings per share for the current fiscal year.

First Horizon declared that its board has authorized a share buyback plan on Tuesday, October 29th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 10.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

First Horizon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.15 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.69%. First Horizon’s payout ratio is presently 44.12%.

Insider Activity

In other news, Director Harry V. Barton, Jr. sold 10,000 shares of First Horizon stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $19.92, for a total transaction of $199,200.00. Following the sale, the director now directly owns 166,840 shares in the company, valued at $3,323,452.80. The trade was a 5.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO D Bryan Jordan sold 109,980 shares of the 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 transaction, the chief executive officer now owns 1,861,381 shares of the company’s stock, valued at approximately $39,330,980.53. The trade was a 5.58 % decrease in their position. The disclosure for this sale can be found here. 0.87% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Royal Bank of Canada boosted their price objective on shares of First Horizon from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Keefe, Bruyette & Woods boosted their price objective on shares of First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. Robert W. Baird set a $17.00 target price on shares of First Horizon in a report on Thursday, October 17th. Barclays boosted their target price on shares of First Horizon from $23.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Finally, Bank of America increased their price target on First Horizon from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Seven investment 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 currently has an average rating of “Moderate Buy” and a consensus target price of $22.04.

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.