Amalgamated Bank Sells 12,398 Shares of First Horizon Corporation (NYSE:FHN)

Amalgamated Bank lowered its stake in First Horizon Corporation (NYSE:FHN - Free Report) by 4.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 240,094 shares of the financial services provider's stock after selling 12,398 shares during the quarter. Amalgamated Bank's holdings in First Horizon were worth $4,663,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Millennium Management LLC lifted its holdings in shares of First Horizon by 102.3% in the fourth quarter. Millennium Management LLC now owns 21,285,306 shares of the financial services provider's stock worth $428,686,000 after buying an additional 10,763,349 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in First Horizon by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 19,869,403 shares of the financial services provider's stock worth $400,173,000 after purchasing an additional 97,429 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in First Horizon by 496.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,202,539 shares of the financial services provider's stock valued at $165,199,000 after purchasing an additional 6,827,040 shares during the period. Norges Bank purchased a new position in shares of First Horizon during the 4th quarter valued at $132,418,000. Finally, JPMorgan Chase & Co. grew its position in shares of First Horizon by 160.1% during the 4th 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 in the last quarter. Hedge funds and other institutional investors own 80.28% of the company's stock.

First Horizon Trading Up 0.5%

FHN stock traded up $0.10 during midday trading on Friday, hitting $21.86. The company had a trading volume of 3,032,215 shares, compared to its average volume of 6,025,222. The stock has a market cap of $11.09 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 1.13 and a beta of 0.61. First Horizon Corporation has a 52 week low of $14.34 and a 52 week high of $22.44. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.20. The stock's 50 day moving average price is $19.90 and its 200 day moving average price is $19.86.

First Horizon (NYSE:FHN - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.02. First Horizon had a return on equity of 10.33% and a net margin of 16.13%. The business had revenue of $823.69 million during the quarter, compared to analyst estimates of $825.11 million. During the same quarter in the prior year, the company posted $0.35 EPS. As a group, equities research analysts expect that First Horizon Corporation will post 1.67 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.74%. First Horizon's dividend payout ratio is presently 41.67%.

Analysts Set New Price Targets

FHN has been the subject of several research analyst reports. Wall Street Zen lowered First Horizon from a "hold" rating to a "sell" rating in a research note on Sunday, June 22nd. Baird R W upgraded First Horizon from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Bank of America upped their price objective 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. Keefe, Bruyette & Woods lowered their target price on shares of First Horizon from $24.00 to $22.00 and set a "market perform" rating on the stock in a research note on Thursday, April 17th. Finally, Wells Fargo & Company dropped their target price on shares of 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $22.47.

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.