First Horizon Co. (NYSE:FHN) Position Trimmed by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio trimmed its position in shares of First Horizon Co. (NYSE:FHN - Free Report) by 12.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 195,394 shares of the financial services provider's stock after selling 28,291 shares during the period. Public Employees Retirement System of Ohio's holdings in First Horizon were worth $3,935,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC raised its position in shares of First Horizon by 169.1% in the 3rd quarter. Barclays PLC now owns 1,886,828 shares of the financial services provider's stock valued at $29,301,000 after purchasing an additional 1,185,772 shares in the last quarter. KBC Group NV increased its stake in shares of First Horizon by 249.8% in the fourth quarter. KBC Group NV now owns 166,961 shares of the financial services provider's stock worth $3,363,000 after buying an additional 119,237 shares during the last quarter. Pacer Advisors Inc. raised its holdings in First Horizon by 1.1% in the fourth quarter. Pacer Advisors Inc. now owns 79,022 shares of the financial services provider's stock valued at $1,592,000 after acquiring an additional 824 shares in the last quarter. Perigon Wealth Management LLC boosted its stake in First Horizon by 9.9% during the 4th quarter. Perigon Wealth Management LLC now owns 12,698 shares of the financial services provider's stock valued at $271,000 after acquiring an additional 1,149 shares during the last quarter. Finally, R Squared Ltd acquired a new position in First Horizon during the 4th quarter worth $66,000. Hedge funds and other institutional investors own 80.28% of the company's stock.

Analysts Set New Price Targets

FHN has been the topic of several research analyst reports. Robert W. Baird raised shares of First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 price target on the stock in a research report on Monday, April 7th. Royal Bank of Canada dropped their price target 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. Truist Financial assumed coverage on shares of First Horizon in a report on Tuesday, May 13th. They issued a "hold" rating and a $21.00 price objective for the company. Keefe, Bruyette & Woods dropped their target price on shares of First Horizon from $24.00 to $22.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. Finally, Wall Street Zen raised shares of First Horizon from a "sell" rating to a "hold" rating in a report on Monday, May 12th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $22.41.

First Horizon Price Performance

FHN traded up $0.27 on Tuesday, reaching $20.09. The company had a trading volume of 2,945,908 shares, compared to its average volume of 6,164,209. The company has a fifty day moving average of $18.59 and a 200-day moving average of $19.88. The company has a market capitalization of $10.19 billion, a P/E ratio of 14.77, a PEG ratio of 1.19 and a beta of 0.59. First Horizon Co. has a one year low of $14.09 and a one 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.

First Horizon (NYSE:FHN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.02. The business 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, equities research analysts anticipate that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Announces Dividend

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 given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.99%. The ex-dividend date is Friday, June 13th. First Horizon's dividend payout ratio (DPR) 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.