Swiss National Bank Sells 13,500 Shares of First Horizon Co. (NYSE:FHN)

Swiss National Bank lowered its position in First Horizon Co. (NYSE:FHN) by 1.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,054,000 shares of the financial services provider’s stock after selling 13,500 shares during the period. Swiss National Bank owned about 0.20% of First Horizon worth $21,228,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its position in First Horizon by 26.2% during the fourth quarter. Bank of New York Mellon Corp now owns 37,131,162 shares of the financial services provider’s stock valued at $747,822,000 after purchasing an additional 7,715,191 shares in the last quarter. State Street Corp lifted its position in First Horizon by 18.6% during the third quarter. State Street Corp now owns 26,236,784 shares of the financial services provider’s stock valued at $410,789,000 after purchasing an additional 4,116,486 shares in the last quarter. Geode Capital Management LLC lifted its position in First Horizon by 0.7% during the third quarter. Geode Capital Management LLC now owns 9,346,924 shares of the financial services provider’s stock valued at $145,194,000 after purchasing an additional 61,397 shares in the last quarter. Raymond James Financial Inc. purchased a new position in First Horizon during the fourth quarter valued at $102,467,000. Finally, Amundi lifted its position in First Horizon by 255.6% during the fourth quarter. Amundi now owns 3,733,831 shares of the financial services provider’s stock valued at $77,104,000 after purchasing an additional 2,683,746 shares in the last quarter. Institutional investors own 80.28% of the company’s stock.

First Horizon Price Performance

NYSE:FHN opened at $18.82 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $9.82 billion, a P/E ratio of 13.83, a P/E/G ratio of 1.19 and a beta of 0.86. First Horizon Co. has a 12 month low of $13.72 and a 12 month high of $22.44. The business’s 50-day moving average is $20.88 and its 200 day moving average is $19.16.

First Horizon (NYSE:FHN) last posted its earnings results on Thursday, January 16th. The financial services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.05. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. During the same period in the prior year, the company earned $0.32 EPS. On average, equities research analysts forecast that First Horizon Co. will post 1.67 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid 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 3.19%. First Horizon’s payout ratio is currently 44.12%.

Insiders Place Their Bets

In other First Horizon news, 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 transaction of $2,323,877.40. Following the sale, the chief executive officer now directly owns 1,861,381 shares of the company’s stock, valued at $39,330,980.53. The trade was a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.87% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on FHN shares. Royal Bank of Canada lifted their target price on First Horizon from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Wells Fargo & Company boosted their price objective on First Horizon from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. UBS Group began coverage on First Horizon in a research report on Tuesday, December 17th. They issued a “buy” rating and a $25.00 price objective on the stock. Bank of America boosted their price objective on First Horizon from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Finally, Keefe, Bruyette & Woods boosted their price objective on First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s 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 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.