Mitsubishi UFJ Trust & Banking Corp cut its holdings in shares of First Horizon Co. (NYSE:FHN – Get Rating) by 74.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,495 shares of the financial services provider’s stock after selling 33,547 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in First Horizon were worth $251,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. CENTRAL TRUST Co lifted its position in First Horizon by 116.0% during the first quarter. CENTRAL TRUST Co now owns 1,080 shares of the financial services provider’s stock worth $25,000 after buying an additional 580 shares during the period. Field & Main Bank purchased a new position in First Horizon during the second quarter worth about $33,000. AGF Investments LLC purchased a new position in First Horizon during the first quarter worth about $52,000. CWM LLC lifted its position in First Horizon by 114.7% during the second quarter. CWM LLC now owns 2,647 shares of the financial services provider’s stock worth $58,000 after buying an additional 1,414 shares during the period. Finally, Ancora Advisors LLC raised its holdings in shares of First Horizon by 115.5% in the 1st quarter. Ancora Advisors LLC now owns 3,526 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 1,890 shares during the period. 81.49% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Separately, StockNews.com began coverage on First Horizon in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Nine equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, First Horizon currently has a consensus rating of “Hold” and an average target price of $23.60.
First Horizon Stock Performance
First Horizon (NYSE:FHN – Get Rating) last announced its earnings results on Wednesday, October 19th. The financial services provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. First Horizon had a return on equity of 12.37% and a net margin of 26.45%. During the same quarter in the prior year, the company posted $0.50 EPS. On average, sell-side analysts forecast that First Horizon Co. will post 1.62 earnings per share for the current fiscal year.
First Horizon Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Tuesday, January 3rd will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, December 15th. This represents a $0.60 annualized dividend and a dividend yield of 2.43%. First Horizon’s payout ratio is currently 40.54%.
Insider Activity at First Horizon
In other First Horizon news, COO Tammy Locascio sold 36,228 shares of the firm’s stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $24.34, for a total transaction of $881,789.52. Following the completion of the sale, the chief operating officer now owns 169,290 shares in the company, valued at approximately $4,120,518.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.55% 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 three segments: Regional Banking, Specialty Banking, and Corporate. It offers general banking services for consumers, businesses, financial institutions, and governments.
- Get a free copy of the StockNews.com research report on First Horizon (FHN)
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