Delta Asset Management LLC TN Has $2.20 Million Holdings in First Horizon Co. (NYSE:FHN)

Delta Asset Management LLC TN decreased its position in First Horizon Co. (NYSE:FHN) by 1.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 109,376 shares of the financial services provider’s stock after selling 1,600 shares during the period. Delta Asset Management LLC TN’s holdings in First Horizon were worth $2,203,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its holdings in shares of First Horizon by 26.2% in the 4th 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 during the period. Raymond James Financial Inc. acquired a new stake in shares of First Horizon during the fourth quarter worth approximately $102,467,000. State Street Corp grew 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. JPMorgan Chase & Co. increased its stake in First Horizon by 160.1% in the 4th quarter. JPMorgan Chase & Co. now owns 5,524,827 shares of the financial services provider’s stock valued at $111,270,000 after buying an additional 3,400,811 shares during the period. Finally, Amundi boosted its stake in shares of First Horizon by 255.6% during the 4th quarter. Amundi now owns 3,733,831 shares of the financial services provider’s stock valued at $77,104,000 after buying an additional 2,683,746 shares during the period. 80.28% of the stock is currently owned by hedge funds and other institutional investors.

First Horizon Stock Down 0.9 %

FHN opened at $19.60 on Thursday. The business has a 50 day moving average of $20.73 and a 200-day moving average of $19.28. The stock has a market capitalization of $10.07 billion, a price-to-earnings ratio of 14.41, a P/E/G ratio of 1.19 and a beta of 0.86. 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 Co. has a 1-year low of $13.72 and a 1-year high of $22.44.

First Horizon (NYSE:FHN) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (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 in the prior year, the business posted $0.32 EPS. As a group, sell-side analysts anticipate that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.15 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.60 annualized dividend and a yield of 3.06%. First Horizon’s dividend payout ratio (DPR) is currently 44.12%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on FHN shares. Stephens reaffirmed an “overweight” rating and issued a $24.00 price target on shares of First Horizon in a research note on Friday, January 17th. Keefe, Bruyette & Woods upped their target price on First Horizon from $23.00 to $24.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. Citigroup lifted their price target on First Horizon from $24.00 to $25.00 and gave the company a “buy” rating in a report on Friday, February 28th. Wells Fargo & Company increased their price objective on First Horizon from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. Finally, Bank of America lifted their target price on shares of First Horizon from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.23.

Insiders Place Their Bets

In other news, CEO D Bryan Jordan sold 109,980 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The shares were 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 directly 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.87% of the company’s stock.

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.