Thoroughbred Financial Services LLC Sells 1,212 Shares of First Horizon Co. (NYSE:FHN)

Thoroughbred Financial Services LLC trimmed its position in First Horizon Co. (NYSE:FHN) by 7.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,392 shares of the financial services provider’s stock after selling 1,212 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in First Horizon were worth $203,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Natixis Advisors L.P. grew its holdings in First Horizon by 30.2% in the 4th quarter. Natixis Advisors L.P. now owns 278,830 shares of the financial services provider’s stock valued at $3,948,000 after buying an additional 64,749 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of First Horizon by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 56,775,050 shares of the financial services provider’s stock worth $625,661,000 after purchasing an additional 2,276,977 shares in the last quarter. California Public Employees Retirement System grew its holdings in shares of First Horizon by 16.0% during the 3rd quarter. California Public Employees Retirement System now owns 994,511 shares of the financial services provider’s stock worth $10,960,000 after purchasing an additional 137,525 shares in the last quarter. Lecap Asset Management Ltd. acquired a new stake in shares of First Horizon during the 4th quarter worth $1,019,000. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of First Horizon during the 4th quarter worth $2,222,000. 80.28% of the stock is owned by institutional investors and hedge funds.

First Horizon Price Performance

First Horizon stock opened at $15.70 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $8.59 billion, a PE ratio of 10.98, a P/E/G ratio of 2.16 and a beta of 0.94. First Horizon Co. has a 12 month low of $10.08 and a 12 month high of $16.28. The stock has a 50-day moving average price of $15.14 and a two-hundred day moving average price of $14.18.

First Horizon (NYSE:FHN) last posted its earnings results on Wednesday, April 17th. The financial services provider reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. The firm had revenue of $819.00 million during the quarter, compared to the consensus estimate of $809.51 million. First Horizon had a return on equity of 8.96% and a net margin of 16.07%. The business’s quarterly revenue was down 4.7% on a year-over-year basis. During the same period last year, the company earned $0.46 earnings per share. Analysts expect that First Horizon Co. will post 1.5 EPS for the current year.

First Horizon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.82%. First Horizon’s dividend payout ratio (DPR) is 41.96%.

Analyst Ratings Changes

Several research firms have recently issued reports on FHN. Stephens began coverage on First Horizon in a report on Thursday. They set an “overweight” rating and a $19.00 target price on the stock. Wells Fargo & Company increased their target price on First Horizon from $14.00 to $16.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. Robert W. Baird increased their target price on First Horizon from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, April 18th. Barclays started coverage on First Horizon in a report on Friday, March 8th. They set an “overweight” rating and a $18.00 target price on the stock. Finally, StockNews.com lowered First Horizon from a “hold” rating to a “sell” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.36.

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.