Oregon Public Employees Retirement Fund Sells 614 Shares of First Horizon Co. (NYSE:FHN)

Oregon Public Employees Retirement Fund lessened its holdings in First Horizon Co. (NYSE:FHN) by 0.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 107,887 shares of the financial services provider’s stock after selling 614 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in First Horizon were worth $2,173,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Citigroup Inc. boosted its stake in shares of First Horizon by 43.0% in the 3rd quarter. Citigroup Inc. now owns 948,122 shares of the financial services provider’s stock valued at $14,724,000 after purchasing an additional 285,108 shares during the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of First Horizon by 13.1% in the 3rd quarter. Los Angeles Capital Management LLC now owns 868,094 shares of the financial services provider’s stock valued at $13,482,000 after purchasing an additional 100,359 shares during the last quarter. Allen Capital Group LLC boosted its stake in shares of First Horizon by 128.4% in the 3rd quarter. Allen Capital Group LLC now owns 52,612 shares of the financial services provider’s stock valued at $817,000 after purchasing an additional 29,581 shares during the last quarter. First Citizens Bank & Trust Co. bought a new position in shares of First Horizon in the 4th quarter valued at about $304,000. Finally, Merit Financial Group LLC bought a new position in shares of First Horizon in the 4th quarter valued at about $453,000. Institutional investors own 80.28% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on FHN. Raymond James lifted their price objective on shares of First Horizon from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. UBS Group began coverage on shares of First Horizon in a research note on Tuesday, December 17th. They set a “buy” rating and a $25.00 price objective on the stock. Barclays lifted their price objective on shares of First Horizon from $23.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Bank of America lifted their price objective on shares of First Horizon from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of First Horizon from $23.00 to $24.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.04.

Insider Buying and Selling

In related news, CEO D Bryan Jordan sold 109,980 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $21.13, for a total transaction of $2,323,877.40. Following the transaction, the chief executive officer now directly owns 1,861,381 shares in the company, valued at approximately $39,330,980.53. The trade was a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.87% of the stock is owned by corporate insiders.

First Horizon Price Performance

NYSE FHN opened at $21.04 on Friday. 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 Co. has a 12-month low of $13.72 and a 12-month high of $22.44. The company has a market capitalization of $11.15 billion, a PE ratio of 15.47, a price-to-earnings-growth ratio of 1.19 and a beta of 0.92. The firm’s 50 day moving average is $21.13 and its 200-day moving average is $18.81.

First Horizon (NYSE:FHN) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the firm earned $0.32 EPS. Equities research analysts anticipate that First Horizon Co. will post 1.67 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.15 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.85%. First Horizon’s dividend payout ratio (DPR) 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.