First Horizon Co. (NYSE:FHN) Shares Sold by Two Sigma Investments LP

Two Sigma Investments LP decreased its position in First Horizon Co. (NYSE:FHN - Free Report) by 67.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 495,235 shares of the financial services provider's stock after selling 1,022,404 shares during the quarter. Two Sigma Investments LP owned 0.09% of First Horizon worth $9,974,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in FHN. Jones Financial Companies Lllp purchased a new position in First Horizon in the fourth quarter valued at approximately $30,000. Kentucky Trust Co acquired a new stake in First Horizon during the 4th quarter worth $32,000. Lee Danner & Bass Inc. acquired a new stake in First Horizon during the 4th quarter worth $50,000. MassMutual Private Wealth & Trust FSB boosted its stake in First Horizon by 335.6% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider's stock worth $52,000 after purchasing an additional 2,000 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in First Horizon by 29.9% during the 4th 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 period. Institutional investors and hedge funds own 80.28% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on FHN shares. 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 research note on Thursday, April 17th. Truist Financial started coverage on shares of First Horizon in a research note on Tuesday, May 13th. They set a "hold" rating and a $21.00 price target for the company. Robert W. Baird upgraded shares of First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 price target for the company in a research note on Monday, April 7th. Bank of America increased their price target on shares of First Horizon from $23.00 to $24.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Finally, Barclays lowered their price objective on shares of First Horizon from $25.00 to $23.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Seven equities 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 company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.41.

First Horizon Price Performance

First Horizon stock traded down $0.28 during midday trading on Wednesday, reaching $19.91. The company's stock had a trading volume of 3,916,046 shares, compared to its average volume of 6,177,018. The firm has a market capitalization of $10.10 billion, a PE ratio of 14.64, a P/E/G ratio of 1.19 and a beta of 0.59. 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 Co. has a fifty-two week low of $14.09 and a fifty-two week high of $22.44. The stock's 50 day simple moving average is $18.54 and its 200 day simple moving average is $19.89.

First Horizon (NYSE:FHN - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.02. The business had revenue of $823.69 million during the quarter, compared to the consensus estimate of $825.11 million. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. During the same quarter in the previous year, the company posted $0.35 EPS. On average, equities research analysts forecast that First Horizon Co. will post 1.67 earnings per share 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 dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Friday, June 13th. First Horizon's dividend payout ratio (DPR) is presently 41.67%.

About First Horizon

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.