Schonfeld Strategic Advisors LLC Reduces Holdings in First Horizon Co. (NYSE:FHN)

Schonfeld Strategic Advisors LLC cut its stake in shares of First Horizon Co. (NYSE:FHN - Free Report) by 92.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,163 shares of the financial services provider's stock after selling 263,138 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in First Horizon were worth $446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of FHN. Barclays PLC lifted its holdings in First Horizon by 169.1% in the 3rd quarter. Barclays PLC now owns 1,886,828 shares of the financial services provider's stock worth $29,301,000 after buying an additional 1,185,772 shares during the period. Franklin Resources Inc. lifted its holdings in First Horizon by 552.9% in the 3rd quarter. Franklin Resources Inc. now owns 273,693 shares of the financial services provider's stock worth $4,502,000 after buying an additional 231,773 shares during the period. Wedmont Private Capital lifted its holdings in First Horizon by 5.0% in the 4th quarter. Wedmont Private Capital now owns 42,598 shares of the financial services provider's stock worth $855,000 after buying an additional 2,024 shares during the period. Gateway Investment Advisers LLC lifted its holdings in First Horizon by 8.8% in the 4th quarter. Gateway Investment Advisers LLC now owns 68,593 shares of the financial services provider's stock worth $1,381,000 after buying an additional 5,553 shares during the period. Finally, Ritholtz Wealth Management purchased a new stake in First Horizon in the 4th quarter worth approximately $352,000. 80.28% of the stock is currently owned by hedge funds and other institutional investors.

First Horizon Stock Down 0.1%

Shares of NYSE:FHN opened at $19.25 on Monday. The stock has a fifty day simple moving average of $18.26 and a two-hundred day simple moving average of $19.73. The stock has a market capitalization of $9.76 billion, a price-to-earnings ratio of 14.15, a PEG ratio of 1.19 and a beta of 0.59. First Horizon Co. has a 12-month low of $14.09 and a 12-month high of $22.44. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14.

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

First Horizon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Friday, June 13th. First Horizon's dividend payout ratio is currently 41.67%.

Wall Street Analyst Weigh In

Several research firms have weighed in on FHN. Bank of America increased their price objective on First Horizon from $23.00 to $24.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Citigroup raised their target price on First Horizon from $24.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Wells Fargo & Company lowered their target price on First Horizon from $22.00 to $20.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. JPMorgan Chase & Co. raised their target price on First Horizon from $22.50 to $23.50 and gave the company a "neutral" rating in a research note on Friday, January 17th. Finally, Raymond James lowered their target price on First Horizon from $23.00 to $22.00 and set an "outperform" rating for the company in a research note on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, First Horizon currently has a consensus rating of "Moderate Buy" and an average price target of $22.03.

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.

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