Huber Capital Management LLC Lowers Stock Holdings in First Horizon Co. (NYSE:FHN)

Huber Capital Management LLC cut its holdings in shares of First Horizon Co. (NYSE:FHN) by 3.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 626,168 shares of the financial services provider’s stock after selling 21,300 shares during the period. First Horizon comprises about 2.5% of Huber Capital Management LLC’s portfolio, making the stock its 15th biggest position. Huber Capital Management LLC owned about 0.12% of First Horizon worth $12,611,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in FHN. ExodusPoint Capital Management LP boosted its position in First Horizon by 700.1% in the 4th quarter. ExodusPoint Capital Management LP now owns 1,320,187 shares of the financial services provider’s stock valued at $26,589,000 after buying an additional 1,155,187 shares during the period. Cinctive Capital Management LP acquired a new position in First Horizon during the 4th quarter worth $3,942,000. Headlands Technologies LLC increased its holdings in First Horizon by 505.8% during the 4th quarter. Headlands Technologies LLC now owns 36,178 shares of the financial services provider’s stock worth $729,000 after purchasing an additional 30,206 shares during the period. B. Metzler seel. Sohn & Co. AG acquired a new stake in First Horizon in the 4th quarter valued at about $691,000. Finally, Alliancebernstein L.P. boosted its stake in shares of First Horizon by 18.2% in the 4th quarter. Alliancebernstein L.P. now owns 1,272,804 shares of the financial services provider’s stock valued at $25,634,000 after buying an additional 196,321 shares during the period. Institutional investors and hedge funds own 80.28% of the company’s stock.

Insiders Place Their Bets

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $21.13, for a total transaction of $2,323,877.40. Following the completion of the transaction, the chief executive officer now owns 1,861,381 shares of the company’s stock, valued at approximately $39,330,980.53. This trade represents a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.87% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on FHN shares. Royal Bank of Canada lifted their price target on shares of First Horizon from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. StockNews.com downgraded shares of First Horizon from a “hold” rating to a “sell” rating in a research note on Monday. Bank of America raised 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. Raymond James dropped their price objective on First Horizon from $23.00 to $22.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, JPMorgan Chase & Co. upped their price target on First Horizon from $22.50 to $23.50 and gave the company a “neutral” rating in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.23.

First Horizon Price Performance

Shares of FHN opened at $19.64 on Thursday. The firm has a market capitalization of $10.10 billion, a PE ratio of 14.44, a P/E/G ratio of 1.19 and a beta of 0.86. The stock’s 50 day moving average is $20.53 and its two-hundred day moving average is $19.41. First Horizon Co. has a twelve month low of $13.72 and a twelve month high of $22.44. The company has a current ratio of 0.96, a quick ratio of 0.95 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 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 quarter last year, the company posted $0.32 EPS. Research analysts anticipate that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Dividend Announcement

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

First Horizon Company 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.