Caxton Associates LP Reduces Stake in First Horizon Co. (NYSE:FHN)

Caxton Associates LP decreased its holdings in shares of First Horizon Co. (NYSE:FHN - Free Report) by 40.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 98,614 shares of the financial services provider's stock after selling 66,787 shares during the quarter. Caxton Associates LP's holdings in First Horizon were worth $1,986,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Versant Capital Management Inc lifted its position in shares of First Horizon by 160.1% during the 4th quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider's stock worth $29,000 after buying an additional 884 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in First Horizon during the 4th quarter worth $30,000. Kentucky Trust Co purchased a new stake in First Horizon in the fourth quarter valued at $32,000. Lee Danner & Bass Inc. acquired a new position in First Horizon in the fourth quarter valued at $50,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of First Horizon by 335.6% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider's stock worth $52,000 after purchasing an additional 2,000 shares during the last quarter. 80.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Barclays decreased their target price on First Horizon from $25.00 to $23.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company decreased their price objective on First Horizon from $22.00 to $20.00 and set an "equal weight" rating for the company in a report on Wednesday, April 9th. Bank of America raised their target price on shares of First Horizon from $23.00 to $24.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Citigroup upped their price target on shares of First Horizon from $24.00 to $25.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Finally, Raymond James lowered their price objective on shares of First Horizon from $23.00 to $22.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, five have issued 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 currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.03.

First Horizon Price Performance

Shares of NYSE:FHN opened at $18.89 on Monday. First Horizon Co. has a 52 week low of $14.09 and a 52 week high of $22.44. The company has a 50-day moving average price of $18.45 and a 200 day moving average price of $19.67. The company has a market cap of $9.71 billion, a P/E ratio of 13.89, a PEG ratio of 1.19 and a beta of 0.60. 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 (NYSE:FHN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.02. The firm had revenue of $823.69 million for the quarter, compared to the consensus estimate of $825.11 million. 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 earned $0.35 earnings per share. Research analysts predict that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $0.15 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.18%. First Horizon's dividend payout ratio is presently 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.

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