Centiva Capital LP Sells 140,810 Shares of First Horizon Co. (NYSE:FHN)

Centiva Capital LP cut its holdings in First Horizon Co. (NYSE:FHN - Free Report) by 89.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,238 shares of the financial services provider's stock after selling 140,810 shares during the quarter. Centiva Capital LP's holdings in First Horizon were worth $347,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FHN. Belpointe Asset Management LLC boosted its position in shares of First Horizon by 3.1% in the fourth quarter. Belpointe Asset Management LLC now owns 17,631 shares of the financial services provider's stock worth $355,000 after buying an additional 535 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in First Horizon by 3.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 15,731 shares of the financial services provider's stock worth $317,000 after purchasing an additional 571 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in First Horizon by 29.9% in the 4th quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider's stock worth $52,000 after purchasing an additional 591 shares during the last quarter. Independent Advisor Alliance boosted its holdings in First Horizon by 1.1% during the fourth quarter. Independent Advisor Alliance now owns 57,730 shares of the financial services provider's stock valued at $1,163,000 after acquiring an additional 632 shares during the period. Finally, Access Investment Management LLC grew its holdings in First Horizon by 0.8% in the 4th quarter. Access Investment Management LLC now owns 88,490 shares of the financial services provider's stock valued at $1,782,000 after buying an additional 675 shares during the last quarter. Institutional investors and hedge funds own 80.28% of the company's stock.

First Horizon Trading Down 0.2%

Shares of NYSE FHN traded down $0.05 during midday trading on Thursday, hitting $20.31. 3,549,694 shares of the company traded hands, compared to its average volume of 6,130,996. The firm has a market cap of $10.30 billion, a P/E ratio of 14.93, a P/E/G ratio of 1.19 and a beta of 0.59. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96. The stock has a 50-day moving average price of $18.31 and a 200 day moving average price of $19.75. First Horizon Co. has a 12-month low of $14.09 and a 12-month high of $22.44.

First Horizon (NYSE:FHN - Get Free Report) last issued its 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 business had revenue of $823.69 million during the quarter, compared to analysts' expectations of $825.11 million. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. During the same period in the previous year, the company earned $0.35 earnings per share. As a group, analysts expect that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Announces Dividend

The business also recently disclosed 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. This represents a $0.60 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date is Friday, June 13th. First Horizon's dividend payout ratio (DPR) is currently 41.67%.

Analysts Set New Price Targets

FHN has been the topic of several analyst reports. Truist Financial initiated coverage on shares of First Horizon in a report on Tuesday. They issued a "hold" rating and a $21.00 price target on the stock. Citigroup upped their price target on First Horizon from $24.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Stephens restated an "overweight" rating and issued a $24.00 price target on shares of First Horizon in a research report on Friday, January 17th. Royal Bank of Canada reduced their price target on shares of First Horizon from $24.00 to $22.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Finally, Baird R W upgraded shares of First Horizon from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $21.97.

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.