Guggenheim Capital LLC Trims Position in First Horizon Co. (NYSE:FHN)

Guggenheim Capital LLC reduced its stake in shares of First Horizon Co. (NYSE:FHN - Free Report) by 98.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,833 shares of the financial services provider's stock after selling 943,960 shares during the quarter. Guggenheim Capital LLC's holdings in First Horizon were worth $299,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in FHN. Versant Capital Management Inc grew its stake in First Horizon by 160.1% in the 4th 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 in the last quarter. Jones Financial Companies Lllp bought a new stake in First Horizon during the 4th quarter valued at $30,000. Kentucky Trust Co purchased a new stake in shares of First Horizon in the 4th quarter worth $32,000. Lee Danner & Bass Inc. purchased a new stake in shares of First Horizon in the 4th quarter worth $50,000. Finally, MassMutual Private Wealth & Trust FSB grew its position in shares of First Horizon by 335.6% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider's stock worth $52,000 after buying an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 80.28% of the company's stock.

First Horizon Stock Performance

Shares of First Horizon stock traded up $0.37 during trading on Friday, hitting $18.65. 743,501 shares of the company's stock were exchanged, compared to its average volume of 6,253,667. First Horizon Co. has a 52-week low of $14.09 and a 52-week high of $22.44. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96. The stock has a market capitalization of $9.59 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 1.19 and a beta of 0.60. The business has a 50-day simple moving average of $18.49 and a 200-day simple moving average of $19.62.

First Horizon (NYSE:FHN - Get Free Report) last posted its earnings results on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.02. The firm had revenue of $823.69 million during 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 period in the previous year, the firm earned $0.35 EPS. On average, research analysts forecast that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.22%. The ex-dividend date is Friday, June 13th. First Horizon's payout ratio is presently 41.67%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on FHN shares. Bank of America increased their target price on shares of First Horizon from $23.00 to $24.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Barclays reduced their price objective on shares of First Horizon from $25.00 to $23.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Wells Fargo & Company dropped their target price on First Horizon from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. StockNews.com lowered First Horizon from a "hold" rating to a "sell" rating in a research report on Tuesday. Finally, Stephens reaffirmed an "overweight" rating and set a $24.00 price objective on shares of First Horizon in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, First Horizon has a consensus rating of "Moderate Buy" and a consensus target price of $22.03.

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.