Jefferies Financial Group Inc. Cuts Stock Position in First Horizon Co. (NYSE:FHN)

Jefferies Financial Group Inc. lessened its stake in First Horizon Co. (NYSE:FHN) by 52.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 110,028 shares of the financial services provider’s stock after selling 120,711 shares during the quarter. Jefferies Financial Group Inc.’s holdings in First Horizon were worth $2,216,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FHN. Jones Financial Companies Lllp purchased a new stake in First Horizon in the 4th quarter worth $30,000. Kentucky Trust Co acquired a new stake in First Horizon during the 4th quarter worth $32,000. Lee Danner & Bass Inc. acquired a new stake in First Horizon during the 4th quarter worth $50,000. MassMutual Private Wealth & Trust FSB boosted its stake in First Horizon by 335.6% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted 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 worth $52,000 after purchasing an additional 591 shares during the last quarter. Hedge funds and other institutional investors own 80.28% of the company’s stock.

First Horizon Stock Up 0.7%

Shares of FHN opened at $20.20 on Wednesday. The stock has a market capitalization of $10.25 billion, a PE ratio of 14.85, a P/E/G ratio of 1.19 and a beta of 0.59. First Horizon Co. has a 1 year low of $14.09 and a 1 year high of $22.44. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96. The company’s 50-day simple moving average is $18.28 and its 200-day simple moving average is $19.75.

First Horizon (NYSE:FHN) last issued its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.02. The business had revenue of $823.69 million for the quarter, compared to analysts’ expectations of $825.11 million. 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 $0.35 earnings per share. Analysts forecast that First Horizon Co. will post 1.67 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, June 13th. This represents a $0.60 annualized dividend and a dividend yield of 2.97%. First Horizon’s dividend payout ratio is presently 41.67%.

Analyst Ratings Changes

Several equities research analysts have issued reports on FHN shares. Robert W. Baird raised shares of First Horizon from a “neutral” rating to an “outperform” rating and set a $22.00 target price on the stock in a research note on Monday, April 7th. StockNews.com raised shares of First Horizon from a “sell” rating to a “hold” rating in a research report on Monday. Citigroup boosted their price target 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. Bank of America boosted their price target on shares of First Horizon from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Finally, JPMorgan Chase & Co. boosted their price target on shares of First Horizon from $22.50 to $23.50 and gave the company a “neutral” rating in a research report on Friday, January 17th. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, First Horizon presently has an average rating of “Moderate Buy” and a consensus target price of $21.97.

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.