Jefferies Financial Group Inc. Has $2.22 Million Holdings in First Horizon Co. (NYSE:FHN)

Jefferies Financial Group Inc. lowered its position in First Horizon Co. (NYSE:FHN - Free Report) by 52.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,028 shares of the financial services provider's stock after selling 120,711 shares during the period. Jefferies Financial Group Inc.'s holdings in First Horizon were worth $2,216,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in FHN. Bank of New York Mellon Corp lifted its stake in First Horizon by 26.2% in the 4th quarter. Bank of New York Mellon Corp now owns 37,131,162 shares of the financial services provider's stock valued at $747,822,000 after acquiring an additional 7,715,191 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in First Horizon by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 19,869,403 shares of the financial services provider's stock valued at $400,173,000 after acquiring an additional 97,429 shares in the last quarter. Norges Bank bought a new stake in First Horizon in the 4th quarter valued at approximately $132,418,000. JPMorgan Chase & Co. lifted its stake in 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 valued at $111,270,000 after acquiring an additional 3,400,811 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in First Horizon in the 4th quarter valued at approximately $102,467,000. Institutional investors own 80.28% of the company's stock.

First Horizon Stock Performance

NYSE:FHN traded up $0.10 during mid-day trading on Friday, hitting $20.36. The stock had a trading volume of 3,018,760 shares, compared to its average volume of 6,137,955. First Horizon Co. has a twelve month low of $14.09 and a twelve month high of $22.44. The stock has a market cap of $10.32 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 1.19 and a beta of 0.59. The company's 50 day simple moving average is $18.40 and its 200 day simple moving average is $19.80. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96.

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, topping the consensus estimate of $0.40 by $0.02. The firm had revenue of $823.69 million during the quarter, compared to the consensus estimate 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 last year, the business posted $0.35 earnings per share. On average, equities research analysts forecast that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.60 annualized dividend and a yield of 2.95%. First Horizon's dividend payout ratio (DPR) is presently 41.67%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Barclays decreased their price objective on First Horizon from $25.00 to $23.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. JPMorgan Chase & Co. raised their price objective on First Horizon from $22.50 to $23.50 and gave the company a "neutral" rating in a report on Friday, January 17th. Truist Financial assumed coverage on First Horizon in a report on Tuesday. They issued a "hold" rating and a $21.00 price objective for the company. Royal Bank of Canada decreased their price objective on First Horizon from $24.00 to $22.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. Finally, Stephens restated an "overweight" rating and issued a $24.00 price objective on shares of First Horizon in a report on Friday, January 17th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $21.97.

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.