Ensign Peak Advisors Inc Sells 53,604 Shares of First Horizon Co. (NYSE:FHN)

Ensign Peak Advisors Inc trimmed its holdings in shares of First Horizon Co. (NYSE:FHN - Free Report) by 19.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 224,363 shares of the financial services provider's stock after selling 53,604 shares during the period. Ensign Peak Advisors Inc's holdings in First Horizon were worth $4,519,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FHN. JPMorgan Chase & Co. raised its holdings in shares of First Horizon by 160.1% in the 4th 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. First Citizens Bank & Trust Co. acquired a new stake in shares of First Horizon during the 4th quarter valued at $304,000. Merit Financial Group LLC bought a new stake in shares of First Horizon during the 4th quarter worth $453,000. Smith Group Asset Management LLC acquired a new position in shares of First Horizon in the 4th quarter worth $1,813,000. Finally, Atria Investments Inc acquired a new stake in shares of First Horizon during the fourth quarter worth $442,000. Institutional investors own 80.28% of the company's stock.

First Horizon Stock Performance

FHN traded down $0.03 on Tuesday, hitting $20.29. 633,210 shares of the stock traded hands, compared to its average volume of 6,114,893. The business has a fifty day moving average price of $18.44 and a two-hundred day moving average price of $19.85. 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 Co. has a 52 week low of $14.09 and a 52 week high of $22.44. The firm has a market capitalization of $10.29 billion, a PE ratio of 14.92, a P/E/G 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 for the quarter, topping analysts' consensus estimates of $0.40 by $0.02. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. 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 previous year, the company earned $0.35 earnings per share. On average, research analysts predict that First Horizon Co. will post 1.67 EPS for the current fiscal year.

First Horizon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date is Friday, June 13th. First Horizon's dividend payout ratio is 41.67%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on FHN shares. Bank of America lifted their price target on First Horizon from $23.00 to $24.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Royal Bank of Canada cut their price target on shares of First Horizon from $24.00 to $22.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Keefe, Bruyette & Woods reduced their price target on shares of First Horizon from $24.00 to $22.00 and set a "market perform" rating for the company in a research 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 price objective on the stock in a research report on Monday, April 7th. Finally, StockNews.com raised shares of First Horizon from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. Seven investment 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, First Horizon currently has a consensus rating of "Moderate Buy" and a consensus price target of $21.97.

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.