First Horizon Co. (NYSE:FHN) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC reduced its stake in shares of First Horizon Co. (NYSE:FHN) by 13.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,465 shares of the financial services provider’s stock after selling 15,074 shares during the quarter. Cresset Asset Management LLC’s holdings in First Horizon were worth $1,917,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Jones Financial Companies Lllp acquired a new stake in First Horizon during the 4th quarter worth $30,000. Kentucky Trust Co purchased a new position in shares of First Horizon during the fourth quarter worth about $32,000. Lee Danner & Bass Inc. purchased a new position in shares of First Horizon during the fourth quarter worth about $50,000. MassMutual Private Wealth & Trust FSB increased its position in First Horizon by 335.6% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 2,000 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in First Horizon by 29.9% during the 4th quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 591 shares during the last quarter. 80.28% of the stock is owned by hedge funds and other institutional investors.

First Horizon Price Performance

First Horizon stock opened at $19.25 on Friday. The firm has a market capitalization of $9.76 billion, a PE ratio of 14.15, a P/E/G ratio of 1.19 and a beta of 0.59. First Horizon Co. has a 52 week low of $14.09 and a 52 week high of $22.44. The firm’s 50-day simple moving average is $18.26 and its 200 day simple moving average is $19.71. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14.

First Horizon (NYSE:FHN) last announced its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.02. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. The company had revenue of $823.69 million for the quarter, compared to the consensus estimate of $825.11 million. During the same quarter in the prior year, the firm earned $0.35 earnings per share. On average, equities research analysts predict that First Horizon Co. will post 1.67 EPS for the current fiscal year.

First Horizon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $0.15 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.12%. First Horizon’s dividend payout ratio (DPR) is 41.67%.

Analyst Upgrades and Downgrades

FHN has been the topic of a number of recent research reports. Baird R W raised First Horizon from a “hold” rating to a “strong-buy” rating in a report on Monday, April 7th. Royal Bank of Canada dropped their price objective on shares of First Horizon from $24.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, April 17th. Robert W. Baird upgraded shares of First Horizon from a “neutral” rating to an “outperform” rating and set a $22.00 target price for the company in a research note on Monday, April 7th. Bank of America boosted their price target on shares of First Horizon from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, April 17th. Finally, Citigroup raised their price objective on shares of First Horizon from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, First Horizon currently has an average rating of “Moderate Buy” and a consensus target price of $22.03.

About First Horizon

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.