Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Has $420,000 Stock Holdings in First Horizon Co. (NYSE:FHN)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. trimmed its stake in shares of First Horizon Co. (NYSE:FHNGet Rating) by 6.6% in the third quarter, Holdings Channel.com reports. The firm owned 18,338 shares of the financial services provider’s stock after selling 1,305 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in First Horizon were worth $420,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in FHN. Field & Main Bank bought a new stake in First Horizon during the 2nd quarter worth approximately $33,000. CWM LLC grew its holdings in First Horizon by 114.7% during the 2nd quarter. CWM LLC now owns 2,647 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 1,414 shares during the last quarter. Ancora Advisors LLC grew its holdings in First Horizon by 115.5% during the 1st quarter. Ancora Advisors LLC now owns 3,526 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 1,890 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in First Horizon by 29.6% during the 2nd quarter. Quadrant Capital Group LLC now owns 3,933 shares of the financial services provider’s stock worth $86,000 after acquiring an additional 898 shares during the last quarter. Finally, Ellevest Inc. grew its holdings in First Horizon by 13.7% during the 2nd quarter. Ellevest Inc. now owns 7,124 shares of the financial services provider’s stock worth $156,000 after acquiring an additional 858 shares during the last quarter. 77.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of First Horizon from a “hold” rating to a “sell” rating in a report on Wednesday, January 18th. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat, First Horizon presently has a consensus rating of “Hold” and an average target price of $24.25.

Insider Buying and Selling

In related news, COO Tammy Locascio sold 36,228 shares of the stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $24.34, for a total transaction of $881,789.52. Following the transaction, the chief operating officer now directly owns 169,290 shares of the company’s stock, valued at $4,120,518.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, COO Tammy Locascio sold 36,228 shares of the stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $24.34, for a total transaction of $881,789.52. Following the transaction, the chief operating officer now directly owns 169,290 shares of the company’s stock, valued at $4,120,518.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider David T. Popwell sold 139,637 shares of the stock in a transaction on Wednesday, November 30th. The stock was sold at an average price of $24.75, for a total transaction of $3,456,015.75. Following the transaction, the insider now directly owns 527,091 shares in the company, valued at $13,045,502.25. The disclosure for this sale can be found here. 1.55% of the stock is owned by insiders.

First Horizon Trading Up 0.2 %

NYSE:FHN opened at $24.66 on Monday. The firm’s fifty day moving average is $24.53 and its 200-day moving average is $23.63. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.93 and a current ratio of 0.94. First Horizon Co. has a 52 week low of $16.51 and a 52 week high of $24.92. The firm has a market cap of $13.24 billion, a P/E ratio of 16.12, a P/E/G ratio of 2.63 and a beta of 0.93.

First Horizon (NYSE:FHNGet Rating) last posted its quarterly earnings data on Wednesday, January 18th. The financial services provider reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. First Horizon had a net margin of 25.66% and a return on equity of 12.98%. The company had revenue of $882.00 million for the quarter, compared to analyst estimates of $883.23 million. During the same period in the prior year, the firm posted $0.48 EPS. Equities analysts expect that First Horizon Co. will post 1.83 earnings per share for the current year.

First Horizon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Friday, December 16th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date was Thursday, December 15th. First Horizon’s dividend payout ratio is currently 39.22%.

First Horizon Profile

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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.

Further Reading

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Institutional Ownership by Quarter for First Horizon (NYSE:FHN)

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