Jefferies Financial Group Inc. Sells 120,711 Shares of First Horizon Co. (NYSE:FHN)

Jefferies Financial Group Inc. cut its position in shares of First Horizon Co. (NYSE:FHN - Free Report) by 52.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 110,028 shares of the financial services provider's stock after selling 120,711 shares during the quarter. Jefferies Financial Group Inc.'s holdings in First Horizon were worth $2,216,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Carolinas Wealth Consulting LLC raised its holdings in shares of First Horizon by 359.5% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 17,998 shares of the financial services provider's stock worth $363,000 after acquiring an additional 14,081 shares during the last quarter. Forum Financial Management LP raised its stake in First Horizon by 26.8% in the 4th quarter. Forum Financial Management LP now owns 14,958 shares of the financial services provider's stock valued at $301,000 after purchasing an additional 3,159 shares during the last quarter. GTS Securities LLC raised its stake in First Horizon by 132.4% in the 4th quarter. GTS Securities LLC now owns 33,834 shares of the financial services provider's stock valued at $681,000 after purchasing an additional 19,278 shares during the last quarter. Vise Technologies Inc. acquired a new position in First Horizon in the 4th quarter valued at about $275,000. Finally, Harmony Asset Management LLC raised its stake in First Horizon by 16.6% in the 4th quarter. Harmony Asset Management LLC now owns 94,459 shares of the financial services provider's stock valued at $1,902,000 after purchasing an additional 13,439 shares during the last quarter. 80.28% of the stock is owned by institutional investors and hedge funds.

First Horizon Trading Down 1.3%

FHN traded down $0.27 during mid-day trading on Friday, reaching $19.84. The stock had a trading volume of 5,221,733 shares, compared to its average volume of 6,182,056. The stock has a market capitalization of $10.06 billion, a P/E ratio of 14.59, 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. The firm's fifty day simple moving average is $18.57 and its two-hundred day simple moving average is $19.89. 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 announced its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.02. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. The firm had revenue of $823.69 million for the quarter, compared to analysts' expectations of $825.11 million. During the same period last year, the firm earned $0.35 earnings per share. On average, equities analysts predict that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend is Friday, June 13th. First Horizon's dividend payout ratio (DPR) is currently 41.67%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Royal Bank of Canada reduced their target price on First Horizon from $24.00 to $22.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Bank of America upped their price objective on shares of First Horizon from $23.00 to $24.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Jefferies Financial Group started coverage on shares of First Horizon in a research report on Wednesday, May 21st. They set a "buy" rating and a $25.00 price target for the company. Robert W. Baird raised 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 report on Monday, April 7th. Finally, Baird R W upgraded First Horizon from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, First Horizon presently has an average rating of "Moderate Buy" and an average 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.