First Horizon Co. (NYSE:FHN) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets decreased its position in shares of First Horizon Co. (NYSE:FHN - Free Report) by 81.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 95,159 shares of the financial services provider's stock after selling 422,466 shares during the quarter. BNP Paribas Financial Markets' holdings in First Horizon were worth $1,917,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of FHN. Bank of New York Mellon Corp raised its position in First Horizon by 26.2% during the fourth quarter. Bank of New York Mellon Corp now owns 37,131,162 shares of the financial services provider's stock valued at $747,822,000 after acquiring an additional 7,715,191 shares in the last quarter. Norges Bank purchased a new position in First Horizon during the fourth quarter valued at approximately $132,418,000. Raymond James Financial Inc. purchased a new position in First Horizon during the fourth quarter valued at approximately $102,467,000. Freestone Grove Partners LP purchased a new position in First Horizon during the fourth quarter valued at approximately $75,485,000. Finally, JPMorgan Chase & Co. raised its position in First Horizon by 160.1% during the fourth quarter. JPMorgan Chase & Co. now owns 5,524,827 shares of the financial services provider's stock valued at $111,270,000 after acquiring an additional 3,400,811 shares in the last quarter. Institutional investors and hedge funds own 80.28% of the company's stock.

First Horizon Price Performance

Shares of First Horizon stock traded up $0.02 on Friday, reaching $19.78. The company's stock had a trading volume of 6,280,892 shares, compared to its average volume of 6,171,925. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. The stock has a 50-day moving average price of $18.51 and a 200-day moving average price of $19.89. The company has a market capitalization of $10.03 billion, a P/E ratio of 14.54, a PEG ratio of 1.19 and a beta of 0.59. First Horizon Co. has a 52-week low of $14.09 and a 52-week high of $22.44.

First Horizon (NYSE:FHN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.02. The firm had revenue of $823.69 million for the quarter, compared to analyst estimates 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 company posted $0.35 earnings per share. Analysts expect 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. Stockholders of record on Friday, June 13th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date is Friday, June 13th. First Horizon's dividend payout ratio is presently 41.67%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on FHN shares. Raymond James reduced their price target on First Horizon from $23.00 to $22.00 and set an "outperform" rating for the company in a research report on Wednesday, April 2nd. 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 lifted their price target on First Horizon from $23.00 to $24.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. Jefferies Financial Group began coverage on First Horizon in a research report on Wednesday. They set a "buy" rating and a $25.00 price target for the company. Finally, Citigroup boosted their price objective on First Horizon from $24.00 to $25.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Seven research 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 company currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.41.

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.