First Horizon Co. (NYSE:FHN) Stock Holdings Lowered by Mesirow Institutional Investment Management Inc.

Mesirow Institutional Investment Management Inc. lessened its holdings in shares of First Horizon Co. (NYSE:FHN - Free Report) by 15.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 834,847 shares of the financial services provider's stock after selling 151,124 shares during the quarter. First Horizon comprises 1.3% of Mesirow Institutional Investment Management Inc.'s portfolio, making the stock its 19th biggest holding. Mesirow Institutional Investment Management Inc. owned 0.16% of First Horizon worth $16,814,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Stifel Financial Corp grew its position in First Horizon by 14.8% in the third quarter. Stifel Financial Corp now owns 85,461 shares of the financial services provider's stock worth $1,327,000 after acquiring an additional 10,988 shares in the last quarter. Barclays PLC grew its holdings in First Horizon by 169.1% during the 3rd quarter. Barclays PLC now owns 1,886,828 shares of the financial services provider's stock worth $29,301,000 after acquiring an additional 1,185,772 shares in the last quarter. Virtu Financial LLC increased its holdings in First Horizon by 227.0% during the third quarter. Virtu Financial LLC now owns 33,423 shares of the financial services provider's stock valued at $519,000 after buying an additional 23,203 shares during the period. Sanctuary Advisors LLC raised its position in shares of First Horizon by 16.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 24,637 shares of the financial services provider's stock worth $383,000 after acquiring an additional 3,540 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of First Horizon in the 3rd quarter valued at about $127,000. 80.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on FHN. Barclays reduced their price objective on First Horizon from $25.00 to $23.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Baird R W raised First Horizon from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Robert W. Baird raised First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 price objective on the stock in a research note on Monday, April 7th. JPMorgan Chase & Co. raised their target price on First Horizon from $22.50 to $23.50 and gave the stock a "neutral" rating in a research note on Friday, January 17th. Finally, Keefe, Bruyette & Woods cut their target price on 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. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, First Horizon has an average rating of "Moderate Buy" and a consensus price target of $22.03.

First Horizon Trading Up 0.5 %

Shares of NYSE:FHN traded up $0.10 during trading on Friday, reaching $17.87. 2,424,929 shares of the stock were exchanged, compared to its average volume of 6,325,471. First Horizon Co. has a 12-month low of $14.09 and a 12-month high of $22.44. The firm's 50-day moving average price is $18.83 and its 200 day moving average price is $19.55. 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 firm has a market cap of $9.19 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 1.19 and a beta of 0.60.

First Horizon (NYSE:FHN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.02. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. The company had revenue of $823.69 million during the quarter, compared to the consensus estimate of $825.11 million. During the same quarter last year, the company earned $0.35 earnings per share. On average, sell-side analysts anticipate that First Horizon Co. will post 1.67 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a $0.15 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.36%. First Horizon's dividend payout ratio (DPR) 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.