Alaska Permanent Fund Corp Sells 2,133 Shares of First Horizon Co. (NYSE:FHN)

Alaska Permanent Fund Corp trimmed its holdings in First Horizon Co. (NYSE:FHN) by 1.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 196,967 shares of the financial services provider’s stock after selling 2,133 shares during the period. Alaska Permanent Fund Corp’s holdings in First Horizon were worth $2,789,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the business. Yousif Capital Management LLC increased its holdings in First Horizon by 0.4% in the 4th quarter. Yousif Capital Management LLC now owns 265,607 shares of the financial services provider’s stock worth $3,761,000 after buying an additional 1,068 shares in the last quarter. South Dakota Investment Council increased its holdings in First Horizon by 4.0% in the 4th quarter. South Dakota Investment Council now owns 1,071,687 shares of the financial services provider’s stock worth $15,175,000 after buying an additional 41,501 shares in the last quarter. GAMMA Investing LLC bought a new stake in First Horizon in the 4th quarter worth about $71,000. Handelsbanken Fonder AB increased its holdings in First Horizon by 27.0% in the 4th quarter. Handelsbanken Fonder AB now owns 108,319 shares of the financial services provider’s stock worth $1,534,000 after buying an additional 23,000 shares in the last quarter. Finally, CWM LLC increased its holdings in First Horizon by 51.9% in the 4th quarter. CWM LLC now owns 35,430 shares of the financial services provider’s stock worth $502,000 after buying an additional 12,109 shares in the last quarter. 80.28% of the stock is currently owned by institutional investors.

First Horizon Stock Performance

Shares of FHN stock traded up $0.05 during trading hours on Wednesday, reaching $14.93. 3,531,116 shares of the company traded hands, compared to its average volume of 7,047,315. First Horizon Co. has a 12-month low of $8.99 and a 12-month high of $18.29. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.95. The company has a market cap of $8.29 billion, a P/E ratio of 10.41, a P/E/G ratio of 4.10 and a beta of 0.94. The firm has a 50-day moving average price of $14.59 and a 200 day moving average price of $13.47.

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

First Horizon declared that its board has approved a share buyback program on Tuesday, January 23rd that allows the company to repurchase $650.00 million in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 7.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

First Horizon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.02%. First Horizon’s dividend payout ratio is presently 41.96%.

Analyst Ratings Changes

Several equities research analysts recently commented on FHN shares. Wedbush reiterated an “outperform” rating and issued a $17.00 price objective on shares of First Horizon in a report on Wednesday, April 10th. Barclays began coverage on First Horizon in a research note on Friday, March 8th. They set an “overweight” rating and a $18.00 price target for the company. StockNews.com upgraded First Horizon from a “sell” rating to a “hold” rating in a research note on Friday, April 19th. Royal Bank of Canada upgraded First Horizon from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $16.00 to $18.00 in a research note on Tuesday, April 9th. Finally, Wells Fargo & Company boosted their price target on First Horizon from $14.00 to $16.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.15.

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.