First Horizon Co. (NYSE:FHN) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System trimmed its position in First Horizon Co. (NYSE:FHN - Free Report) by 3.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 501,221 shares of the financial services provider's stock after selling 19,659 shares during the period. California State Teachers Retirement System owned approximately 0.10% of First Horizon worth $10,095,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jones Financial Companies Lllp purchased a new stake in shares of First Horizon during the 4th quarter valued at $30,000. Kentucky Trust Co purchased a new position in First Horizon during the 4th quarter worth $32,000. Lee Danner & Bass Inc. acquired a new position in First Horizon during the 4th quarter valued at about $50,000. Farther Finance Advisors LLC raised its stake in First Horizon by 29.9% in the fourth quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider's stock valued at $52,000 after buying an additional 591 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in First Horizon in the fourth quarter worth about $66,000. 80.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FHN has been the topic of several recent analyst reports. Citigroup upped their price objective on shares of First Horizon from $24.00 to $25.00 and gave the company a "buy" rating in a report on Friday, February 28th. Royal Bank of Canada decreased their price target on shares of First Horizon from $24.00 to $22.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. Raymond James dropped their price objective on shares of First Horizon from $23.00 to $22.00 and set an "outperform" rating on the stock in a report on Wednesday, April 2nd. Baird R W raised First Horizon from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Finally, Wells Fargo & Company lowered their price target on 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. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $22.41.

First Horizon Stock Performance

Shares of NYSE FHN traded down $0.06 during midday trading on Monday, reaching $19.83. 3,978,160 shares of the stock were exchanged, compared to its average volume of 6,173,201. 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 firm has a market cap of $10.06 billion, a price-to-earnings ratio of 14.58, a PEG ratio of 1.19 and a beta of 0.59. The firm has a 50-day simple moving average of $18.57 and a two-hundred day simple moving average of $19.89. First Horizon Co. has a twelve month low of $14.09 and a twelve month high of $22.44.

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 the consensus estimate of $0.40 by $0.02. The company had revenue of $823.69 million for 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 quarter last year, the business earned $0.35 earnings per share. As a group, analysts anticipate that First Horizon Co. will post 1.67 EPS for the current fiscal 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 paid a $0.15 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.60 annualized dividend and a dividend yield of 3.03%. First Horizon's dividend payout ratio is presently 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.