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

KMG Fiduciary Partners LLC decreased 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 13F filing with the Securities and Exchange Commission. The firm owned 30,490 shares of the financial services provider's stock after selling 112,577 shares during the period. KMG Fiduciary Partners LLC's holdings in First Horizon were worth $592,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its holdings 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 worth $111,270,000 after purchasing an additional 3,400,811 shares in the last quarter. Atria Investments Inc acquired a new position in shares of First Horizon during the 4th quarter valued at $442,000. Johnson Investment Counsel Inc. increased its position in shares of First Horizon by 2.8% during the 4th quarter. Johnson Investment Counsel Inc. now owns 2,661,592 shares of the financial services provider's stock valued at $53,604,000 after purchasing an additional 72,339 shares during the period. Versor Investments LP bought a new stake in shares of First Horizon in the 4th quarter worth $294,000. Finally, Headlands Technologies LLC lifted its holdings in shares of First Horizon by 505.8% in the fourth quarter. Headlands Technologies LLC now owns 36,178 shares of the financial services provider's stock valued at $729,000 after buying an additional 30,206 shares during the period. Institutional investors and hedge funds own 80.28% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on FHN shares. Barclays lowered their target price on First Horizon from $25.00 to $23.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Wall Street Zen upgraded shares of First Horizon from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Raymond James dropped their target price 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. Wells Fargo & Company cut their target price on shares of First Horizon from $22.00 to $20.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Finally, Jefferies Financial Group assumed coverage on shares of First Horizon in a research report on Wednesday, May 21st. They issued a "buy" rating and a $25.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $22.53.

First Horizon Stock Down 0.8%

NYSE:FHN traded down $0.16 on Thursday, hitting $19.80. 3,947,444 shares of the company's stock traded hands, compared to its average volume of 6,081,405. The company has a market cap of $10.04 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 1.19 and a beta of 0.61. First Horizon Co. has a 1 year low of $14.09 and a 1 year high of $22.44. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average price of $18.79 and a 200-day moving average price of $19.88.

First Horizon (NYSE:FHN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.42 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 analysts' expectations of $825.11 million. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. During the same period last year, the company posted $0.35 earnings per share. Equities analysts anticipate that First Horizon Co. will post 1.67 EPS for the current fiscal year.

First Horizon Announces Dividend

The business 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 of this dividend is Friday, June 13th. First Horizon's dividend payout ratio (DPR) is presently 41.67%.

First Horizon Company 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.