Voya Investment Management LLC Sells 17,358 Shares of First Horizon Co. (NYSE:FHN)

Voya Investment Management LLC reduced its position in First Horizon Co. (NYSE:FHN - Free Report) by 5.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 282,083 shares of the financial services provider's stock after selling 17,358 shares during the quarter. Voya Investment Management LLC owned about 0.05% of First Horizon worth $5,681,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FHN. Versant Capital Management Inc raised its holdings in First Horizon by 160.1% in the fourth quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider's stock valued at $29,000 after buying an additional 884 shares during the period. Jones Financial Companies Lllp purchased a new stake in First Horizon during the 4th quarter worth $30,000. Kentucky Trust Co purchased a new position in First Horizon in the fourth quarter valued at about $32,000. Lee Danner & Bass Inc. acquired a new position in shares of First Horizon during the fourth quarter worth about $50,000. Finally, MassMutual Private Wealth & Trust FSB lifted its position in First Horizon by 335.6% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider's stock worth $52,000 after acquiring an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 80.28% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FHN. Stephens reaffirmed an "overweight" rating and set a $24.00 price target on shares of First Horizon in a research note on Friday, January 17th. StockNews.com downgraded shares of First Horizon from a "hold" rating to a "sell" rating in a research note on Tuesday, April 29th. Raymond James reduced their price target on shares of First Horizon from $23.00 to $22.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods cut their price objective on First Horizon from $24.00 to $22.00 and set a "market perform" rating on the stock in a research note on Thursday, April 17th. Finally, Bank of America boosted their price target on First Horizon from $23.00 to $24.00 and gave the company a "buy" rating in a report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $22.03.

First Horizon Trading Down 0.6 %

First Horizon stock traded down $0.12 during trading hours on Tuesday, reaching $18.73. 238,997 shares of the company's stock traded hands, compared to its average volume of 6,183,389. First Horizon Co. has a fifty-two week low of $14.09 and a fifty-two week high of $22.44. The firm's 50 day moving average is $18.41 and its 200-day moving average is $19.68. 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 capitalization of $9.63 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 1.19 and a beta of 0.59.

First Horizon (NYSE:FHN - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $0.42 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $825.11 million. During the same quarter last year, the firm posted $0.35 earnings per share. On average, 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 announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.60 annualized dividend and a dividend yield of 3.20%. First Horizon's dividend payout ratio is presently 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.