First Horizon Co. (NYSE:FHN) Position Decreased by Sculptor Capital LP

Sculptor Capital LP cut its position in First Horizon Co. (NYSE:FHN - Free Report) by 38.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,061,000 shares of the financial services provider's stock after selling 1,939,000 shares during the quarter. Sculptor Capital LP owned approximately 0.58% of First Horizon worth $61,649,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Jones Financial Companies Lllp acquired a new position in shares of First Horizon during the 4th quarter worth approximately $30,000. Kentucky Trust Co acquired a new position in First Horizon during the 4th quarter worth $32,000. Lee Danner & Bass Inc. purchased a new position in shares of First Horizon in the 4th quarter valued at about $50,000. MassMutual Private Wealth & Trust FSB lifted its stake 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 worth $52,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in First Horizon by 29.9% in the fourth quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider's stock valued at $52,000 after buying an additional 591 shares during the last quarter. Hedge funds and other institutional investors own 80.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company lowered their price target 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. Baird R W raised shares of First Horizon from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Citigroup raised their target price on shares of First Horizon from $24.00 to $25.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Keefe, Bruyette & Woods decreased 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 research report on Thursday, April 17th. Finally, Raymond James cut their target price on First Horizon from $23.00 to $22.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 2nd. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $21.97.

First Horizon Stock Performance

FHN stock traded down $0.22 during trading on Tuesday, hitting $20.09. 4,166,254 shares of the company's stock traded hands, compared to its average volume of 6,135,075. 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 fifty day moving average price of $18.44 and a two-hundred day moving average price of $19.85. The stock has a market capitalization of $10.19 billion, a price-to-earnings ratio of 14.77, a price-to-earnings-growth ratio of 1.19 and a beta of 0.59.

First Horizon (NYSE:FHN - Get Free Report) last issued its earnings results 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. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. The company had revenue of $823.69 million during the quarter, compared to the consensus estimate of $825.11 million. During the same period in the previous year, the firm posted $0.35 earnings per share. As a group, equities analysts anticipate that First Horizon Co. will post 1.67 EPS for the current fiscal year.

First Horizon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a $0.15 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.60 dividend on an annualized basis and a yield of 2.99%. First Horizon's dividend payout ratio 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.