Captrust Financial Advisors Decreases Stock Position in First Horizon Co. (NYSE:FHN)

Captrust Financial Advisors lowered its stake in shares of First Horizon Co. (NYSE:FHN - Free Report) by 31.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 116,009 shares of the financial services provider's stock after selling 53,645 shares during the quarter. Captrust Financial Advisors' holdings in First Horizon were worth $2,336,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in First Horizon by 160.1% in the fourth 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. First Citizens Bank & Trust Co. purchased a new stake in shares of First Horizon in the fourth quarter worth about $304,000. Merit Financial Group LLC acquired a new position in First Horizon in the fourth quarter valued at approximately $453,000. Smith Group Asset Management LLC acquired a new position in First Horizon in the fourth quarter valued at approximately $1,813,000. Finally, Atria Investments Inc purchased a new stake in First Horizon in the 4th quarter worth approximately $442,000. 80.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FHN. Royal Bank of Canada decreased their target price on shares of First Horizon from $24.00 to $22.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. StockNews.com raised shares of First Horizon from a "sell" rating to a "hold" rating in a research note on Monday. Robert W. Baird raised First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 price target for the company in a report on Monday, April 7th. Keefe, Bruyette & Woods dropped their price objective on First Horizon from $24.00 to $22.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. Finally, Stephens restated an "overweight" rating and issued a $24.00 price objective on shares of First Horizon in a research report on Friday, January 17th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $21.97.

First Horizon Price Performance

Shares of First Horizon stock traded down $0.05 on Thursday, hitting $20.31. 3,549,694 shares of the company were exchanged, compared to its average volume of 6,130,996. The company has a 50-day moving average price of $18.31 and a 200 day moving average price of $19.75. The stock has a market capitalization of $10.30 billion, a price-to-earnings ratio of 14.93, a price-to-earnings-growth ratio of 1.19 and a beta of 0.59. 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 1-year low of $14.09 and a 1-year high of $22.44.

First Horizon (NYSE:FHN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.02. The business had revenue of $823.69 million during the quarter, compared to the consensus estimate of $825.11 million. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. During the same quarter last year, the firm earned $0.35 EPS. As a group, sell-side analysts predict that First Horizon Co. will post 1.67 earnings per share for the current fiscal year.

First Horizon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.60 annualized dividend and a dividend yield of 2.95%. First Horizon's dividend payout ratio is currently 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.