Jacobs Levy Equity Management Inc. Has $978,000 Stock Holdings in First Horizon Co. (NYSE:FHN)

Jacobs Levy Equity Management Inc. trimmed its holdings in shares of First Horizon Co. (NYSE:FHN - Free Report) by 80.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,571 shares of the financial services provider's stock after selling 201,951 shares during the period. Jacobs Levy Equity Management Inc.'s holdings in First Horizon were worth $978,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Belpointe Asset Management LLC lifted its position in First Horizon by 3.1% during the fourth quarter. Belpointe Asset Management LLC now owns 17,631 shares of the financial services provider's stock worth $355,000 after buying an additional 535 shares during the period. Steward Partners Investment Advisory LLC boosted its position in shares of First Horizon by 3.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 15,731 shares of the financial services provider's stock worth $317,000 after acquiring an additional 571 shares during the last quarter. Farther Finance Advisors LLC grew its holdings 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 purchasing an additional 591 shares during the period. Independent Advisor Alliance increased its position in First Horizon by 1.1% during the fourth quarter. Independent Advisor Alliance now owns 57,730 shares of the financial services provider's stock worth $1,163,000 after purchasing an additional 632 shares during the last quarter. Finally, Access Investment Management LLC raised its stake in First Horizon by 0.8% during the fourth quarter. Access Investment Management LLC now owns 88,490 shares of the financial services provider's stock worth $1,782,000 after purchasing an additional 675 shares during the period. Hedge funds and other institutional investors own 80.28% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Robert W. Baird raised First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 target price on the stock in a research report on Monday, April 7th. Keefe, Bruyette & Woods lowered their target price on First Horizon from $24.00 to $22.00 and set a "market perform" rating for the company in a research note on Thursday, April 17th. StockNews.com raised First Horizon from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Wells Fargo & Company dropped their price objective 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. Finally, Barclays decreased their price target 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. Seven 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 company. Based on data from MarketBeat.com, First Horizon currently has an average rating of "Moderate Buy" and a consensus target price of $21.97.

First Horizon Stock Down 1.1%

Shares of First Horizon stock traded down $0.22 on Tuesday, hitting $20.09. The company had a trading volume of 4,166,254 shares, compared to its average volume of 6,128,651. First Horizon Co. has a twelve month low of $14.09 and a twelve month high of $22.44. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95. The stock has a 50-day moving average of $18.44 and a 200-day moving average of $19.85. The firm has a market capitalization of $10.19 billion, a P/E ratio of 14.77, a P/E/G ratio of 1.19 and a beta of 0.59.

First Horizon (NYSE:FHN - Get Free Report) last issued its quarterly earnings results 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. The firm had revenue of $823.69 million for 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 business earned $0.35 EPS. Research analysts predict that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Dividend Announcement

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