Yousif Capital Management LLC Cuts Stake in First Horizon Co. (NYSE:FHN)

Yousif Capital Management LLC lowered its position in shares of First Horizon Co. (NYSE:FHNGet Rating) by 8.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 278,213 shares of the financial services provider’s stock after selling 25,645 shares during the quarter. Yousif Capital Management LLC owned 0.05% of First Horizon worth $6,371,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. grew its stake in shares of First Horizon by 0.8% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 56,049 shares of the financial services provider’s stock worth $1,284,000 after purchasing an additional 426 shares during the period. CapWealth Advisors LLC grew its stake in shares of First Horizon by 3.4% during the 2nd quarter. CapWealth Advisors LLC now owns 14,301 shares of the financial services provider’s stock worth $313,000 after purchasing an additional 474 shares during the period. Cetera Investment Advisers grew its stake in shares of First Horizon by 3.2% during the 1st quarter. Cetera Investment Advisers now owns 15,738 shares of the financial services provider’s stock worth $370,000 after purchasing an additional 491 shares during the period. State of Michigan Retirement System grew its stake in shares of First Horizon by 0.4% during the 2nd quarter. State of Michigan Retirement System now owns 136,056 shares of the financial services provider’s stock worth $2,974,000 after purchasing an additional 500 shares during the period. Finally, Blair William & Co. IL grew its stake in shares of First Horizon by 2.1% during the 1st quarter. Blair William & Co. IL now owns 28,364 shares of the financial services provider’s stock worth $666,000 after purchasing an additional 575 shares during the period. Hedge funds and other institutional investors own 77.41% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of First Horizon from a “hold” rating to a “sell” rating in a research note on Wednesday, January 18th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $24.25.

Insiders Place Their Bets

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

First Horizon Price Performance

Shares of NYSE FHN opened at $24.59 on Wednesday. The stock has a market cap of $13.20 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 2.62 and a beta of 0.93. First Horizon Co. has a 52 week low of $16.72 and a 52 week high of $24.92. The company’s 50-day moving average price is $24.55 and its 200 day moving average price is $23.66. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.21.

First Horizon (NYSE:FHNGet Rating) last issued 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. The firm had revenue of $882.00 million for the quarter, compared to analysts’ expectations of $883.23 million. First Horizon had a net margin of 25.66% and a return on equity of 12.98%. During the same period in the prior year, the company earned $0.48 EPS. As a group, research analysts forecast that First Horizon Co. will post 1.83 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Friday, March 17th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.44%. First Horizon’s dividend payout ratio is currently 39.22%.

First Horizon Company 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.

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

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