KMG Fiduciary Partners LLC Sells 112,577 Shares of First Horizon Co. (NYSE:FHN)

KMG Fiduciary Partners LLC cut its stake in shares of First Horizon Co. (NYSE:FHN - Free Report) by 78.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,490 shares of the financial services provider's stock after selling 112,577 shares during the quarter. KMG Fiduciary Partners LLC's holdings in First Horizon were worth $592,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. UMB Bank n.a. boosted its stake in First Horizon by 143.5% during the first quarter. UMB Bank n.a. now owns 6,716 shares of the financial services provider's stock worth $130,000 after acquiring an additional 3,958 shares in the last quarter. Merit Financial Group LLC boosted its stake in First Horizon by 7.6% during the first quarter. Merit Financial Group LLC now owns 24,222 shares of the financial services provider's stock worth $470,000 after acquiring an additional 1,709 shares in the last quarter. GAMMA Investing LLC boosted its stake in First Horizon by 2,658.3% during the first quarter. GAMMA Investing LLC now owns 251,470 shares of the financial services provider's stock worth $4,884,000 after acquiring an additional 242,353 shares in the last quarter. Versant Capital Management Inc boosted its stake in First Horizon by 137.5% during the first quarter. Versant Capital Management Inc now owns 3,411 shares of the financial services provider's stock worth $66,000 after acquiring an additional 1,975 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in First Horizon by 13.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 152,291 shares of the financial services provider's stock worth $3,067,000 after acquiring an additional 17,934 shares in the last quarter. 80.28% of the stock is owned by institutional investors.

First Horizon Stock Performance

Shares of FHN stock opened at $20.43 on Monday. The firm has a 50-day moving average of $18.64 and a 200-day moving average of $19.88. The company has a market cap of $10.36 billion, a P/E ratio of 15.02, a P/E/G ratio of 1.19 and a beta of 0.61. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95. First Horizon Co. has a one year low of $14.09 and a one year high of $22.44.

First Horizon (NYSE:FHN - Get Free Report) last announced its 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 during the quarter, compared to the consensus estimate 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 in the prior year, the company posted $0.35 earnings per share. Equities research analysts forecast that First Horizon Co. will post 1.67 EPS for the current fiscal year.

First Horizon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.60 annualized dividend and a dividend yield of 2.94%. First Horizon's dividend payout ratio is currently 41.67%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FHN. Raymond James cut their target price on shares of First Horizon from $23.00 to $22.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 2nd. Baird R W raised shares of First Horizon from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Wells Fargo & Company dropped their price objective on shares of First Horizon from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Royal Bank of Canada dropped their price objective on shares of First Horizon from $24.00 to $22.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Finally, Wall Street Zen raised shares of First Horizon from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. Seven equities research 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.41.

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.

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