Ameriprise Financial Inc. Sells 61,221 Shares of First Horizon Co. (NYSE:FHN)

Ameriprise Financial Inc. cut its stake in shares of First Horizon Co. (NYSE:FHN - Free Report) by 8.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 679,556 shares of the financial services provider's stock after selling 61,221 shares during the quarter. Ameriprise Financial Inc. owned about 0.13% of First Horizon worth $13,700,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Algert Global LLC increased its holdings in shares of First Horizon by 49.1% during the fourth quarter. Algert Global LLC now owns 796,476 shares of the financial services provider's stock valued at $16,041,000 after acquiring an additional 262,294 shares in the last quarter. Alyeska Investment Group L.P. increased its holdings in shares of First Horizon by 65.2% during the fourth quarter. Alyeska Investment Group L.P. now owns 2,322,567 shares of the financial services provider's stock valued at $46,776,000 after acquiring an additional 916,752 shares in the last quarter. Aptus Capital Advisors LLC bought a new position in shares of First Horizon during the fourth quarter valued at $238,000. Ategra Capital Management LLC increased its holdings in shares of First Horizon by 1.6% during the fourth quarter. Ategra Capital Management LLC now owns 628,637 shares of the financial services provider's stock valued at $12,661,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its holdings in First Horizon by 1,247.9% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 312,737 shares of the financial services provider's stock worth $6,299,000 after buying an additional 289,536 shares in the last quarter. 80.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on FHN shares. Baird R W upgraded shares of First Horizon from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Robert W. Baird raised shares of First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 target price for the company in a research report on Monday, April 7th. Wells Fargo & Company decreased 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 note on Wednesday, April 9th. Royal Bank of Canada lowered their price target on First Horizon from $24.00 to $22.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Finally, Keefe, Bruyette & Woods dropped their price target on 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. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $22.41.

First Horizon Price Performance

Shares of FHN traded up $0.02 during mid-day trading on Friday, reaching $19.78. The stock had a trading volume of 6,280,892 shares, compared to its average volume of 6,171,925. The firm has a market cap of $10.03 billion, a price-to-earnings ratio of 14.54, a PEG ratio of 1.19 and a beta of 0.59. First Horizon Co. has a 12 month low of $14.09 and a 12 month high of $22.44. The business has a fifty day moving average of $18.51 and a 200 day moving average of $19.89. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96.

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. The business had revenue of $823.69 million during the quarter, compared to analyst estimates 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 prior year, the business posted $0.35 earnings per share. Equities analysts predict that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given 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 3.03%. First Horizon's payout ratio is currently 41.67%.

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.