First Horizon Co. (NYSE:FHN) Shares Sold by Azora Capital LP

Azora Capital LP decreased its position in shares of First Horizon Co. (NYSE:FHN - Free Report) by 14.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,787,999 shares of the financial services provider's stock after selling 791,157 shares during the period. First Horizon accounts for about 4.3% of Azora Capital LP's investment portfolio, making the stock its 8th largest holding. Azora Capital LP owned 0.90% of First Horizon worth $96,430,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its holdings in First Horizon by 160.1% during the fourth quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider's stock worth $29,000 after acquiring an additional 884 shares during the period. Jones Financial Companies Lllp acquired a new stake in shares of First Horizon in the fourth quarter valued at about $30,000. Kentucky Trust Co bought a new position in shares of First Horizon in the fourth quarter worth about $32,000. Lee Danner & Bass Inc. acquired a new position in shares of First Horizon during the 4th quarter worth about $50,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in First Horizon by 335.6% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider's stock valued at $52,000 after buying an additional 2,000 shares during the last quarter. 80.28% of the stock is owned by institutional investors.

First Horizon Price Performance

NYSE FHN traded down $0.25 on Tuesday, hitting $18.59. 2,114,299 shares of the company were exchanged, compared to its average volume of 6,181,126. 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 company has a market cap of $9.56 billion, a P/E ratio of 13.67, a P/E/G ratio of 1.19 and a beta of 0.59. First Horizon Co. has a 1-year low of $14.09 and a 1-year high of $22.44. The firm has a 50 day moving average of $18.36 and a two-hundred day moving average of $19.67.

First Horizon (NYSE:FHN - Get Free Report) last posted its quarterly earnings data 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. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. The firm had revenue of $823.69 million for the quarter, compared to the consensus estimate of $825.11 million. During the same quarter in the prior year, the business earned $0.35 EPS. On average, equities analysts predict that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Announces Dividend

The firm 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 3.23%. The ex-dividend date of this dividend is Friday, June 13th. First Horizon's dividend payout ratio is 41.67%.

Wall Street Analysts Forecast Growth

FHN has been the topic of several research analyst reports. Wells Fargo & Company lowered 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. Barclays dropped their price objective on shares of First Horizon from $25.00 to $23.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Raymond James reduced their target price on shares of First Horizon from $23.00 to $22.00 and set an "outperform" rating for the company in a research note on Wednesday, April 2nd. Bank of America boosted their price target on First Horizon from $23.00 to $24.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Finally, Stephens reiterated an "overweight" rating and issued a $24.00 price objective on shares of First Horizon in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, First Horizon has an average rating of "Moderate Buy" and an average target price of $22.03.

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.