Thoroughbred Financial Services LLC Has $294,000 Holdings in First Horizon Co. (NYSE:FHN)

Thoroughbred Financial Services LLC grew its holdings in First Horizon Co. (NYSE:FHN) by 4.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,621 shares of the financial services provider’s stock after buying an additional 676 shares during the period. Thoroughbred Financial Services LLC’s holdings in First Horizon were worth $294,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Townsquare Capital LLC acquired a new stake in First Horizon during the 3rd quarter valued at $231,000. Quantinno Capital Management LP lifted its stake in shares of First Horizon by 8.4% during the 3rd quarter. Quantinno Capital Management LP now owns 27,760 shares of the financial services provider’s stock worth $431,000 after buying an additional 2,145 shares during the last quarter. Quadrature Capital Ltd boosted its holdings in shares of First Horizon by 24.3% during the 3rd quarter. Quadrature Capital Ltd now owns 45,193 shares of the financial services provider’s stock worth $701,000 after buying an additional 8,834 shares during the period. Stifel Financial Corp grew its stake in First Horizon by 14.8% in the 3rd quarter. Stifel Financial Corp now owns 85,461 shares of the financial services provider’s stock valued at $1,327,000 after buying an additional 10,988 shares during the last quarter. Finally, State Street Corp raised its holdings in First Horizon by 18.6% in the 3rd quarter. State Street Corp now owns 26,236,784 shares of the financial services provider’s stock valued at $410,789,000 after acquiring an additional 4,116,486 shares during the period. 80.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO D Bryan Jordan sold 109,980 shares of the business’s stock in a transaction 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 owns 1,861,381 shares in the company, valued at $39,330,980.53. The trade was a 5.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.87% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Citigroup boosted their price objective on First Horizon from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Bank of America upped their price objective on First Horizon from $23.00 to $25.00 and gave the company a “buy” rating in a report on Friday, January 17th. Barclays lifted their target price on First Horizon from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. StockNews.com downgraded shares of First Horizon from a “hold” rating to a “sell” rating in a research note on Monday, March 31st. Finally, Royal Bank of Canada lifted their price objective on shares of First Horizon from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.23.

First Horizon Stock Down 6.1 %

NYSE FHN opened at $16.16 on Monday. The business has a fifty day moving average price of $20.36 and a two-hundred day moving average price of $19.45. The stock has a market capitalization of $8.31 billion, a PE ratio of 11.88, a PEG ratio of 1.19 and a beta of 0.60. First Horizon Co. has a fifty-two week low of $13.72 and a fifty-two week high of $22.44. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95.

First Horizon (NYSE:FHN) last posted its quarterly 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 quarter in the previous year, the company posted $0.32 earnings per share. Equities analysts expect that First Horizon Co. will post 1.67 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend was Friday, March 14th. First Horizon’s dividend payout ratio (DPR) is presently 44.12%.

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.