Grantham Mayo Van Otterloo & Co. LLC Sells 10,315 Shares of First Horizon Co. (NYSE:FHN)

Grantham Mayo Van Otterloo & Co. LLC cut its holdings in shares of First Horizon Co. (NYSE:FHN) by 13.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,583 shares of the financial services provider’s stock after selling 10,315 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in First Horizon were worth $1,341,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Versant Capital Management Inc increased its holdings in shares of First Horizon by 160.1% in the fourth quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 884 shares during the last quarter. Jones Financial Companies Lllp bought a new stake in shares of First Horizon during the 4th quarter worth about $30,000. Kentucky Trust Co acquired a new position in First Horizon in the 4th quarter valued at about $32,000. Lee Danner & Bass Inc. acquired a new stake in First Horizon during the fourth quarter worth approximately $50,000. Finally, Farther Finance Advisors LLC boosted its holdings in shares of First Horizon by 29.9% during the fourth quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 591 shares during the period. Institutional investors own 80.28% of the company’s stock.

First Horizon Stock Performance

First Horizon stock opened at $16.51 on Tuesday. The business has a 50 day moving average of $20.27 and a 200-day moving average of $19.45. The company has a market capitalization of $8.49 billion, a P/E ratio of 12.14, a P/E/G ratio of 1.19 and a beta of 0.60. First Horizon Co. has a 1 year low of $13.72 and a 1 year 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 released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating 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 company earned $0.32 earnings per share. On average, equities research analysts predict that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend was Friday, March 14th. First Horizon’s payout ratio is presently 44.12%.

Wall Street Analysts Forecast Growth

FHN has been the subject of several recent research reports. Bank of America boosted their price target on First Horizon from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, January 17th. JPMorgan Chase & Co. upped their price target on shares of First Horizon from $22.50 to $23.50 and gave the company a “neutral” rating in a research note on Friday, January 17th. Raymond James dropped their price objective on shares of First Horizon from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Wednesday, April 2nd. StockNews.com raised shares of First Horizon from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Robert W. Baird upgraded shares of First Horizon from a “neutral” rating to an “outperform” rating and set a $22.00 price target for the company in a research report on Monday. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.57.

Insider Buying and Selling at First Horizon

In other news, CEO D Bryan Jordan sold 109,980 shares of the company’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $21.13, for a total value 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 approximately $39,330,980.53. This represents a 5.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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.