First Horizon Co. (NYSE:FHN) Shares Sold by Cullen Investment Group LTD.

Cullen Investment Group LTD. reduced its position in First Horizon Co. (NYSE:FHN) by 11.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,724 shares of the financial services provider’s stock after selling 2,936 shares during the period. Cullen Investment Group LTD.’s holdings in First Horizon were worth $336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Duncan Williams Asset Management LLC acquired a new position in shares of First Horizon in the 1st quarter valued at $5,417,000. Quadrature Capital Ltd acquired a new position in shares of First Horizon in the 4th quarter valued at $2,371,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of First Horizon in the 4th quarter valued at $9,912,000. Vanguard Group Inc. raised its position in First Horizon by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 56,946,272 shares of the financial services provider’s stock worth $806,359,000 after acquiring an additional 171,222 shares during the period. Finally, Greenwood Capital Associates LLC raised its position in First Horizon by 26.1% during the fourth quarter. Greenwood Capital Associates LLC now owns 362,656 shares of the financial services provider’s stock worth $5,135,000 after acquiring an additional 75,041 shares during the period. 80.28% of the stock is currently owned by institutional investors and hedge funds.

First Horizon Trading Down 0.1 %

Shares of FHN opened at $14.45 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.13. First Horizon Co. has a 12-month low of $10.08 and a 12-month high of $16.28. The firm has a 50-day moving average price of $15.22 and a 200 day moving average price of $14.60. The firm has a market capitalization of $7.90 billion, a P/E ratio of 10.10, a P/E/G ratio of 1.95 and a beta of 0.91.

First Horizon (NYSE:FHN) last announced its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. First Horizon had a net margin of 16.07% and a return on equity of 8.96%. The firm had revenue of $819.00 million during the quarter, compared to analyst estimates of $809.51 million. During the same quarter in the prior year, the firm posted $0.46 earnings per share. First Horizon’s quarterly revenue was down 4.7% on a year-over-year basis. Sell-side analysts forecast that First Horizon Co. will post 1.5 EPS for the current year.

First Horizon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date of this dividend is Friday, June 14th. First Horizon’s dividend payout ratio is currently 41.96%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Keefe, Bruyette & Woods restated an “outperform” rating and set a $18.00 price objective on shares of First Horizon in a research report on Tuesday, June 11th. Evercore ISI upped their price objective on shares of First Horizon from $17.00 to $17.50 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Royal Bank of Canada upgraded shares of First Horizon from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $16.00 to $18.00 in a research report on Tuesday, April 9th. JPMorgan Chase & Co. upped their price objective on shares of First Horizon from $16.00 to $17.50 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. Finally, Barclays assumed coverage on shares of First Horizon in a research report on Friday, March 8th. They set an “overweight” rating and a $18.00 price objective for the company. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.62.

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.