First Horizon Co. (NYSE:FHN) Shares Sold by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC trimmed its holdings in shares of First Horizon Co. (NYSE:FHN) by 6.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 143,351 shares of the financial services provider’s stock after selling 9,961 shares during the period. Brandywine Global Investment Management LLC’s holdings in First Horizon were worth $2,887,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of FHN. Bank of New York Mellon Corp grew its stake in First Horizon by 26.2% during the 4th quarter. Bank of New York Mellon Corp now owns 37,131,162 shares of the financial services provider’s stock worth $747,822,000 after buying an additional 7,715,191 shares during the last quarter. State Street Corp boosted its holdings in shares of First Horizon by 18.6% during the third 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. Geode Capital Management LLC grew its position in shares of First Horizon by 0.7% during the third quarter. Geode Capital Management LLC now owns 9,346,924 shares of the financial services provider’s stock worth $145,194,000 after acquiring an additional 61,397 shares during the last quarter. Norges Bank acquired a new stake in shares of First Horizon in the 4th quarter worth about $132,418,000. Finally, JPMorgan Chase & Co. lifted its position in First Horizon by 160.1% in the 4th quarter. JPMorgan Chase & Co. now owns 5,524,827 shares of the financial services provider’s stock valued at $111,270,000 after purchasing an additional 3,400,811 shares during the last quarter. 80.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. raised 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. StockNews.com cut First Horizon from a “hold” rating to a “sell” rating in a research report on Monday. Barclays boosted their price target on First Horizon from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Raymond James lowered their price target on First Horizon from $23.00 to $22.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Stephens reaffirmed an “overweight” rating and issued a $24.00 price objective on shares of First Horizon in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.23.

Insider Buying and Selling at First Horizon

In related news, CEO D Bryan Jordan sold 109,980 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 1,861,381 shares in the company, valued at approximately $39,330,980.53. This represents a 5.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.87% of the company’s stock.

First Horizon Trading Up 2.6 %

First Horizon stock opened at $19.64 on Thursday. The firm has a market cap of $10.10 billion, a price-to-earnings ratio of 14.44, a price-to-earnings-growth ratio of 1.19 and a beta of 0.86. First Horizon Co. has a 1 year low of $13.72 and a 1 year high of $22.44. The firm’s 50 day moving average price is $20.53 and its two-hundred day moving average price is $19.41. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96.

First Horizon (NYSE:FHN) last issued its earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (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 period in the previous year, the business posted $0.32 EPS. On average, 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 disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.60 annualized dividend and a yield of 3.05%. First Horizon’s payout ratio is presently 44.12%.

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.