Barclays PLC Sells 635,501 Shares of First Horizon Co. (NYSE:FHN)

Barclays PLC cut its position in shares of First Horizon Co. (NYSE:FHN - Free Report) by 33.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,251,327 shares of the financial services provider's stock after selling 635,501 shares during the quarter. Barclays PLC owned 0.24% of First Horizon worth $25,202,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FHN. Versant Capital Management Inc grew its stake in shares of First Horizon by 160.1% during the fourth quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 884 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in First Horizon during the 4th quarter worth about $30,000. Kentucky Trust Co bought a new position in shares of First Horizon in the 4th quarter worth $32,000. Lee Danner & Bass Inc. purchased a new position in First Horizon during the 4th quarter worth $50,000. Finally, MassMutual Private Wealth & Trust FSB raised its stake 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 acquiring an additional 2,000 shares during the period. Institutional investors own 80.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Stephens reissued an "overweight" rating and set a $24.00 price target on shares of First Horizon in a research report on Friday, January 17th. Wells Fargo & Company decreased their target price on 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. Keefe, Bruyette & Woods lowered their price target on First Horizon from $24.00 to $22.00 and set a "market perform" rating for the company in a report on Thursday, April 17th. StockNews.com raised First Horizon from a "sell" rating to a "hold" rating in a report on Tuesday, April 8th. Finally, Baird R W raised shares of First Horizon from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, First Horizon presently has an average rating of "Moderate Buy" and an average price target of $22.03.

First Horizon Stock Up 2.4 %

Shares of First Horizon stock traded up $0.43 during trading hours on Thursday, hitting $17.82. The company had a trading volume of 1,384,456 shares, compared to its average volume of 6,415,475. First Horizon Co. has a twelve month low of $14.09 and a twelve month high of $22.44. The company has a market cap of $9.16 billion, a P/E ratio of 13.09, a price-to-earnings-growth ratio of 1.19 and a beta of 0.60. The company's 50-day moving average is $18.92 and its two-hundred day moving average is $19.54. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95.

First Horizon (NYSE:FHN - Get Free Report) last released 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 company had revenue of $823.69 million during 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 quarter in the prior year, the business posted $0.35 earnings per share. Analysts anticipate 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 was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend was Friday, March 14th. First Horizon's dividend payout ratio is 41.67%.

First Horizon 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.