Charles Schwab Investment Management Inc. Sells 27,410 Shares of First Horizon Co. (NYSE:FHN)

Charles Schwab Investment Management Inc. lowered its stake in First Horizon Co. (NYSE:FHN) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,577,812 shares of the financial services provider’s stock after selling 27,410 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.67% of First Horizon worth $72,057,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC lifted its stake in First Horizon by 3.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 15,731 shares of the financial services provider’s stock valued at $317,000 after buying an additional 571 shares in the last quarter. Sage Rhino Capital LLC acquired a new stake in shares of First Horizon in the fourth quarter valued at approximately $201,000. Jones Financial Companies Lllp acquired a new stake in shares of First Horizon in the fourth quarter valued at approximately $30,000. Smartleaf Asset Management LLC raised its holdings in shares of First Horizon by 20.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,736 shares of the financial services provider’s stock valued at $95,000 after purchasing an additional 820 shares during the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of First Horizon by 237.2% in the fourth quarter. Fisher Asset Management LLC now owns 818,345 shares of the financial services provider’s stock valued at $16,481,000 after purchasing an additional 575,661 shares during the last quarter. Institutional investors own 80.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of First Horizon from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Friday, January 17th. Barclays lifted their price objective on shares of First Horizon from $23.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Bank of America lifted their price objective on shares of First Horizon from $23.00 to $25.00 and gave the company a “buy” rating in a report on Friday, January 17th. The Goldman Sachs Group lifted their price objective on shares of First Horizon from $18.50 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Finally, UBS Group initiated coverage on shares of First Horizon in a report on Tuesday, December 17th. They issued a “buy” rating and a $25.00 price objective on the stock. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, First Horizon currently has a consensus rating of “Moderate Buy” and an average target price of $22.23.

Insider Activity

In other news, CEO D Bryan Jordan sold 109,980 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $21.13, for a total value of $2,323,877.40. Following the completion of the sale, the chief executive officer now owns 1,861,381 shares of the company’s stock, valued at approximately $39,330,980.53. The trade was a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.87% of the stock is currently owned by company insiders.

First Horizon Price Performance

NYSE:FHN opened at $18.22 on Wednesday. First Horizon Co. has a one year low of $13.72 and a one year high of $22.44. The company has a market cap of $9.50 billion, a P/E ratio of 13.39, a P/E/G ratio of 1.19 and a beta of 0.86. The firm’s fifty day moving average price is $21.02 and its two-hundred day moving average price is $19.07. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95.

First Horizon (NYSE:FHN) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.38 by $0.05. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. During the same period in the prior year, the company earned $0.32 EPS. Equities analysts expect 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, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.60 annualized dividend and a dividend yield of 3.29%. First Horizon’s dividend payout ratio is currently 44.12%.

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.