First Horizon Co. (NYSE:FHN) Shares Sold by Bank of America Corp DE

Bank of America Corp DE trimmed its position in shares of First Horizon Co. (NYSE:FHN - Free Report) by 12.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,369,466 shares of the financial services provider's stock after selling 326,073 shares during the quarter. Bank of America Corp DE owned approximately 0.45% of First Horizon worth $47,721,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of First Horizon by 160.1% during the fourth quarter. JPMorgan Chase & Co. now owns 5,524,827 shares of the financial services provider's stock worth $111,270,000 after purchasing an additional 3,400,811 shares in the last quarter. First Citizens Bank & Trust Co. purchased a new stake in shares of First Horizon during the fourth quarter worth approximately $304,000. Merit Financial Group LLC purchased a new stake in shares of First Horizon during the fourth quarter worth approximately $453,000. Smith Group Asset Management LLC purchased a new stake in shares of First Horizon during the fourth quarter worth approximately $1,813,000. Finally, Atria Investments Inc purchased a new stake in shares of First Horizon during the fourth quarter worth approximately $442,000. 80.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Wells Fargo & Company lowered their price objective on First Horizon from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Keefe, Bruyette & Woods lowered their price objective on First Horizon from $24.00 to $22.00 and set a "market perform" rating on the stock in a research note on Thursday, April 17th. StockNews.com raised First Horizon from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. Robert W. Baird raised First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 price objective on the stock in a research note on Monday, April 7th. Finally, Citigroup boosted their price objective on First Horizon from $24.00 to $25.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $21.97.

First Horizon Trading Up 0.5%

FHN traded up $0.10 during mid-day trading on Friday, hitting $20.36. 3,018,760 shares of the stock were exchanged, compared to its average volume of 6,148,659. The firm's fifty day moving average is $18.40 and its two-hundred day moving average is $19.81. First Horizon Co. has a 1-year low of $14.09 and a 1-year high of $22.44. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The company has a market cap of $10.32 billion, a PE ratio of 14.97, a PEG ratio of 1.19 and a beta of 0.59.

First Horizon (NYSE:FHN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.02. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. 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 business earned $0.35 EPS. Equities analysts forecast that First Horizon Co. will post 1.67 earnings per share 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. Shareholders of record on Friday, June 13th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, June 13th. This represents a $0.60 annualized dividend and a yield of 2.95%. First Horizon's dividend payout ratio (DPR) is 41.67%.

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.