Yousif Capital Management LLC Has $3.89 Million Stock Holdings in First Horizon Co. (NYSE:FHN)

Yousif Capital Management LLC trimmed its position in First Horizon Co. (NYSE:FHN) by 4.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 192,895 shares of the financial services provider’s stock after selling 9,372 shares during the quarter. Yousif Capital Management LLC’s holdings in First Horizon were worth $3,885,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Citigroup Inc. grew its position in shares of First Horizon by 43.0% during the 3rd quarter. Citigroup Inc. now owns 948,122 shares of the financial services provider’s stock worth $14,724,000 after buying an additional 285,108 shares during the period. Los Angeles Capital Management LLC boosted its stake in First Horizon by 13.1% in the third quarter. Los Angeles Capital Management LLC now owns 868,094 shares of the financial services provider’s stock valued at $13,482,000 after acquiring an additional 100,359 shares during the last quarter. Allen Capital Group LLC grew its holdings in First Horizon by 128.4% during the 3rd quarter. Allen Capital Group LLC now owns 52,612 shares of the financial services provider’s stock worth $817,000 after acquiring an additional 29,581 shares during the period. Merit Financial Group LLC bought a new stake in shares of First Horizon during the 4th quarter valued at $453,000. Finally, Greenwood Capital Associates LLC lifted its stake in shares of First Horizon by 10.1% in the 3rd quarter. Greenwood Capital Associates LLC now owns 465,513 shares of the financial services provider’s stock valued at $7,229,000 after purchasing an additional 42,793 shares during the period. 80.28% of the stock is owned by institutional investors.

Insider Transactions at First Horizon

In related news, Director Harry V. Barton, Jr. sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $19.92, for a total transaction of $199,200.00. Following the completion of the transaction, the director now directly owns 166,840 shares of the company’s stock, valued at approximately $3,323,452.80. This represents a 5.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO D Bryan Jordan sold 109,980 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $21.13, for a total value of $2,323,877.40. Following the transaction, the chief executive officer now directly owns 1,861,381 shares in the company, valued at $39,330,980.53. This trade represents a 5.58 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.87% of the company’s stock.

First Horizon Stock Down 0.3 %

NYSE:FHN opened at $22.33 on Friday. The stock has a 50-day simple moving average of $20.74 and a 200 day simple moving average of $18.25. First Horizon Co. has a 52-week low of $13.46 and a 52-week high of $22.43. The company has a market cap of $11.84 billion, a PE ratio of 16.42, a PEG ratio of 1.24 and a beta of 0.92. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96.

First Horizon (NYSE:FHN) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share 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 in the previous year, the company posted $0.32 earnings per share. On average, sell-side analysts expect that First Horizon Co. will post 1.63 EPS for the current fiscal year.

First Horizon announced that its Board of Directors has initiated a stock buyback plan on Tuesday, October 29th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 10.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

First Horizon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, March 14th. This represents a $0.60 annualized dividend and a yield of 2.69%. First Horizon’s dividend payout ratio (DPR) is presently 44.12%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on FHN shares. Raymond James upped their price objective on First Horizon from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Wells Fargo & Company increased their price target on shares of First Horizon from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. Evercore ISI boosted their price objective on shares of First Horizon from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Stephens reiterated an “overweight” rating and issued a $24.00 target price on shares of First Horizon in a report on Friday, January 17th. Finally, The Goldman Sachs Group boosted their price target on shares of First Horizon from $18.50 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, First Horizon presently has a consensus rating of “Moderate Buy” and an average target price of $22.04.

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.