Headlands Technologies LLC Sells 23,312 Shares of First Horizon Co. (NYSE:FHN)

Headlands Technologies LLC lowered its position in shares of First Horizon Co. (NYSE:FHN) by 70.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,945 shares of the financial services provider’s stock after selling 23,312 shares during the period. Headlands Technologies LLC’s holdings in First Horizon were worth $157,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Rise Advisors LLC acquired a new stake in First Horizon during the first quarter worth approximately $25,000. Raleigh Capital Management Inc. acquired a new stake in First Horizon during the fourth quarter worth approximately $28,000. Fidelis Capital Partners LLC acquired a new stake in First Horizon during the first quarter worth approximately $28,000. Family Firm Inc. acquired a new stake in First Horizon during the second quarter worth approximately $28,000. Finally, Fortitude Family Office LLC grew its position in First Horizon by 129.3% during the first quarter. Fortitude Family Office LLC now owns 1,954 shares of the financial services provider’s stock worth $30,000 after buying an additional 1,102 shares in the last quarter. Institutional investors own 80.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Raymond James downgraded First Horizon from a “strong-buy” rating to an “outperform” rating and set a $18.00 price target on the stock. in a research report on Thursday, July 18th. Stephens began coverage on First Horizon in a report on Thursday, May 23rd. They issued an “overweight” rating and a $19.00 target price on the stock. StockNews.com raised First Horizon from a “sell” rating to a “hold” rating in a report on Saturday, July 20th. Robert W. Baird reaffirmed a “neutral” rating and issued a $16.00 target price on shares of First Horizon in a report on Tuesday, August 6th. Finally, Evercore ISI reduced their target price on First Horizon from $18.50 to $17.50 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, First Horizon presently has an average rating of “Moderate Buy” and an average price target of $17.31.

First Horizon Stock Up 3.0 %

Shares of NYSE:FHN opened at $15.81 on Friday. The firm has a market cap of $8.47 billion, a P/E ratio of 11.06, a P/E/G ratio of 3.09 and a beta of 0.88. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14. First Horizon Co. has a 12-month low of $10.08 and a 12-month high of $17.46. The business has a fifty day simple moving average of $15.97 and a 200 day simple moving average of $15.40.

First Horizon (NYSE:FHN) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $819.82 million. First Horizon had a return on equity of 8.84% and a net margin of 14.03%. During the same period in the prior year, the business earned $0.39 earnings per share. Analysts predict that First Horizon Co. will post 1.46 earnings per share for the current year.

First Horizon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend is Friday, September 13th. First Horizon’s dividend payout ratio is currently 41.96%.

First Horizon Company 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.