SG Americas Securities LLC Sells 16,056 Shares of First Horizon Co. (NYSE:FHN)

SG Americas Securities LLC trimmed its stake in shares of First Horizon Co. (NYSE:FHN) by 49.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,371 shares of the financial services provider’s stock after selling 16,056 shares during the quarter. SG Americas Securities LLC’s holdings in First Horizon were worth $330,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of FHN. State Street Corp boosted its holdings in shares of First Horizon by 18.6% during the 3rd quarter. State Street Corp now owns 26,236,784 shares of the financial services provider’s stock worth $410,789,000 after buying an additional 4,116,486 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of First Horizon during the third quarter worth approximately $39,242,000. Barclays PLC grew its position in shares of First Horizon by 169.1% in the third quarter. Barclays PLC now owns 1,886,828 shares of the financial services provider’s stock valued at $29,301,000 after purchasing an additional 1,185,772 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of First Horizon during the third quarter worth approximately $7,797,000. Finally, BNP Paribas Financial Markets lifted its holdings in First Horizon by 590.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 517,625 shares of the financial services provider’s stock worth $8,039,000 after purchasing an additional 442,686 shares during the last quarter. 80.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at First Horizon

In related news, Director Harry V. Barton, Jr. sold 10,000 shares of First Horizon stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $19.92, for a total transaction of $199,200.00. Following the sale, the director now directly owns 166,840 shares in the company, valued at $3,323,452.80. This trade represents a 5.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David T. Popwell sold 100,974 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $19.77, for a total transaction of $1,996,255.98. Following the completion of the transaction, the executive vice president now owns 519,926 shares of the company’s stock, valued at approximately $10,278,937.02. This trade represents a 16.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 220,954 shares of company stock worth $4,519,333 over the last quarter. Corporate insiders own 0.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on FHN shares. Wells Fargo & Company upped their price objective on First Horizon from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Friday, January 17th. Robert W. Baird set a $17.00 price target on shares of First Horizon in a research report on Thursday, October 17th. UBS Group began coverage on shares of First Horizon in a report on Tuesday, December 17th. They issued a “buy” rating and a $25.00 price objective for the company. JPMorgan Chase & Co. raised their target price on shares of First Horizon from $22.50 to $23.50 and gave the stock a “neutral” rating in a report on Friday, January 17th. Finally, Barclays lifted their price target on shares of First Horizon from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.04.

First Horizon Trading Up 1.5 %

Shares of FHN stock opened at $21.82 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96. First Horizon Co. has a fifty-two week low of $13.45 and a fifty-two week high of $22.10. The company has a market cap of $11.56 billion, a PE ratio of 16.04, a P/E/G ratio of 1.24 and a beta of 0.92. The stock’s fifty day moving average price is $20.68 and its two-hundred day moving average price is $18.16.

First Horizon (NYSE:FHN) last released its earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.05. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. During the same period in the previous year, the firm earned $0.32 EPS. Equities analysts predict that First Horizon Co. will post 1.63 EPS for the current fiscal year.

First Horizon declared that its Board of Directors has initiated a share buyback program on Tuesday, October 29th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 10.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

First Horizon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.75%. The ex-dividend date is Friday, March 14th. First Horizon’s payout ratio is 44.12%.

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.