Cresset Asset Management LLC Sells 15,074 Shares of First Horizon Co. (NYSE:FHN)

Cresset Asset Management LLC reduced its stake in shares of First Horizon Co. (NYSE:FHN - Free Report) by 13.8% 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 94,465 shares of the financial services provider's stock after selling 15,074 shares during the period. Cresset Asset Management LLC's holdings in First Horizon were worth $1,917,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in FHN. Jones Financial Companies Lllp bought a new position in shares of First Horizon during the 4th quarter worth about $30,000. Kentucky Trust Co acquired a new position in First Horizon in the fourth quarter worth about $32,000. Lee Danner & Bass Inc. bought a new position in First Horizon during the fourth quarter worth about $50,000. MassMutual Private Wealth & Trust FSB boosted its holdings in First Horizon by 335.6% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of First Horizon by 29.9% in the 4th quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 591 shares during the period. Institutional investors own 80.28% of the company's stock.

Analyst Ratings Changes

FHN has been the subject of several analyst reports. Truist Financial began coverage on First Horizon in a research report on Tuesday. They set a "hold" rating and a $21.00 target price for the company. Keefe, Bruyette & Woods cut their price objective on First Horizon from $24.00 to $22.00 and set a "market perform" rating for the company in a report on Thursday, April 17th. Robert W. Baird upgraded shares of First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 target price on the stock in a research note on Monday, April 7th. Royal Bank of Canada reduced their price target on shares of First Horizon from $24.00 to $22.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Finally, Stephens reaffirmed an "overweight" rating and issued a $24.00 price target on shares of First Horizon in a report on Friday, January 17th. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $21.97.

First Horizon Trading Up 0.7%

FHN stock traded up $0.14 during midday trading on Tuesday, reaching $20.20. The company's stock had a trading volume of 4,503,463 shares, compared to its average volume of 6,146,053. The business's 50-day simple moving average is $18.28 and its 200-day simple moving average is $19.75. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. First Horizon Co. has a 52 week low of $14.09 and a 52 week high of $22.44. The stock has a market cap of $10.25 billion, a PE ratio of 14.85, a price-to-earnings-growth ratio of 1.19 and a beta of 0.59.

First Horizon (NYSE:FHN - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $823.69 million for the quarter, compared to analyst estimates of $825.11 million. During the same period last year, the company earned $0.35 EPS. As a group, sell-side analysts expect that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Dividend Announcement

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 2.97%. The ex-dividend date is Friday, June 13th. First Horizon's dividend payout ratio (DPR) is currently 41.67%.

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.