Ethic Inc. Has $534,000 Stake in First Horizon Co. (NYSE:FHN)

Ethic Inc. decreased its stake in shares of First Horizon Co. (NYSE:FHN) by 51.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 26,535 shares of the financial services provider’s stock after selling 27,650 shares during the period. Ethic Inc.’s holdings in First Horizon were worth $534,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Jones Financial Companies Lllp acquired a new stake in shares of First Horizon during the 4th quarter worth approximately $30,000. Kentucky Trust Co acquired a new stake in First Horizon in the 4th quarter valued at $32,000. Lee Danner & Bass Inc. acquired a new stake in First Horizon in the 4th quarter valued at $50,000. Farther Finance Advisors LLC grew its position in First Horizon by 29.9% in the 4th quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 591 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew 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 purchasing an additional 2,000 shares during the period. Institutional investors and hedge funds own 80.28% of the company’s stock.

Wall Street Analysts Forecast Growth

FHN has been the subject of several research reports. Stephens reissued an “overweight” rating and issued a $24.00 price target on shares of First Horizon in a research report on Friday, January 17th. Royal Bank of Canada reduced their price target on shares of First Horizon from $24.00 to $22.00 and set an “outperform” rating for the company in a research report on Thursday, April 17th. Barclays reduced their price target on shares of First Horizon from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Raymond James reduced their price target on shares of First Horizon from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Wednesday, April 2nd. Finally, Wells Fargo & Company reduced their price target on shares of First Horizon from $22.00 to $20.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 9th. 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, First Horizon currently has an average rating of “Moderate Buy” and a consensus target price of $21.97.

First Horizon Trading Down 0.2%

NYSE FHN opened at $20.31 on Friday. The stock has a market capitalization of $10.30 billion, a price-to-earnings ratio of 14.93, a PEG ratio of 1.19 and a beta of 0.59. First Horizon Co. has a one year low of $14.09 and a one 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. The business’s fifty day moving average is $18.36 and its 200-day moving average is $19.77.

First Horizon (NYSE:FHN) last released its earnings results on Wednesday, April 16th. The financial services provider reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. The company had revenue of $823.69 million for the quarter, compared to analysts’ expectations of $825.11 million. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. During the same period in the previous year, the business posted $0.35 EPS. Equities research analysts predict that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date is Friday, June 13th. First Horizon’s payout ratio is 41.67%.

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.