Ethic Inc. Has $534,000 Stake in First Horizon Co. (NYSE:FHN)

Ethic Inc. lessened its holdings in First Horizon Co. (NYSE:FHN - Free Report) by 51.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,535 shares of the financial services provider's stock after selling 27,650 shares during the quarter. Ethic Inc.'s holdings in First Horizon were worth $534,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company dropped their price target on shares of First Horizon from $22.00 to $20.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Raymond James decreased their price target on First Horizon from $23.00 to $22.00 and set an "outperform" rating for the company in a research note on Wednesday, April 2nd. Royal Bank of Canada reduced their target price on First Horizon from $24.00 to $22.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Baird R W raised shares of First Horizon from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Finally, Bank of America boosted their price target 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. 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 a consensus rating of "Moderate Buy" and a consensus target price of $22.41.

First Horizon Stock Up 0.1%

Shares of FHN stock traded up $0.02 on Wednesday, reaching $20.08. 1,027,291 shares of the company were exchanged, compared to its average volume of 5,904,746. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95. The company has a 50-day moving average of $18.47 and a 200-day moving average of $19.85. The company has a market cap of $10.18 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 1.19 and a beta of 0.59. First Horizon Co. has a one year low of $14.09 and a one year high of $22.44.

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, topping analysts' consensus estimates of $0.40 by $0.02. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. The business had revenue of $823.69 million for the quarter, compared to the consensus estimate of $825.11 million. During the same period in the prior year, the business earned $0.35 EPS. Analysts anticipate that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend is Friday, June 13th. First Horizon's payout ratio is currently 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.