Ameritas Investment Partners Inc. Sells 7,058 Shares of First Horizon Co. (NYSE:FHN)

Ameritas Investment Partners Inc. lessened its holdings in shares of First Horizon Co. (NYSE:FHN) by 3.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 180,418 shares of the financial services provider’s stock after selling 7,058 shares during the period. Ameritas Investment Partners Inc.’s holdings in First Horizon were worth $2,845,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Janney Montgomery Scott LLC grew its holdings in First Horizon by 3.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 52,229 shares of the financial services provider’s stock worth $740,000 after acquiring an additional 1,874 shares during the last quarter. Norges Bank bought a new stake in shares of First Horizon during the fourth quarter valued at approximately $86,487,000. Quest Partners LLC acquired a new stake in shares of First Horizon in the fourth quarter valued at approximately $306,000. Commerce Bank raised its position in First Horizon by 13.3% in the 4th quarter. Commerce Bank now owns 16,699 shares of the financial services provider’s stock worth $236,000 after purchasing an additional 1,966 shares during the last quarter. Finally, Orion Portfolio Solutions LLC acquired a new position in First Horizon during the 4th quarter worth $555,000. 80.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Robert W. Baird restated a “neutral” rating and set a $16.00 target price on shares of First Horizon in a research report on Tuesday, August 6th. Jefferies Financial Group upped their target price on shares of First Horizon from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Evercore ISI lowered their price target on shares of First Horizon from $19.50 to $18.50 and set an “outperform” rating for the company in a research report on Tuesday, September 17th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $18.00 price objective on shares of First Horizon in a report on Wednesday, July 17th. Finally, Royal Bank of Canada lifted their target price on shares of First Horizon from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.38.

First Horizon Stock Performance

Shares of First Horizon stock opened at $15.97 on Friday. First Horizon Co. has a 12 month low of $10.08 and a 12 month high of $17.46. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $8.73 billion, a PE ratio of 11.17, a PEG ratio of 3.09 and a beta of 0.88. The stock’s fifty day simple moving average is $15.97 and its 200 day simple moving average is $15.45.

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

First Horizon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders 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 dividend yield of 3.76%. The ex-dividend date of this dividend is Friday, September 13th. First Horizon’s dividend payout ratio is 41.96%.

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.