Mutual of America Capital Management LLC Trims Stock Position in First Horizon Co. (NYSE:FHN)

Mutual of America Capital Management LLC cut its stake in First Horizon Co. (NYSE:FHN) by 3.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 280,042 shares of the financial services provider’s stock after selling 9,583 shares during the period. Mutual of America Capital Management LLC owned about 0.05% of First Horizon worth $5,640,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FHN. Fort Sheridan Advisors LLC raised its holdings in shares of First Horizon by 34.1% in the fourth quarter. Fort Sheridan Advisors LLC now owns 47,170 shares of the financial services provider’s stock valued at $950,000 after buying an additional 12,000 shares during the last quarter. Versor Investments LP purchased a new stake in shares of First Horizon in the fourth quarter valued at about $294,000. Proficio Capital Partners LLC purchased a new stake in shares of First Horizon in the fourth quarter valued at about $2,589,000. Carlson Capital L.P. purchased a new stake in shares of First Horizon in the fourth quarter valued at about $1,094,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of First Horizon by 26.2% in the fourth quarter. Bank of New York Mellon Corp now owns 37,131,162 shares of the financial services provider’s stock valued at $747,822,000 after buying an additional 7,715,191 shares during the last quarter. 80.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on FHN shares. Keefe, Bruyette & Woods upped their target price on shares of First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Bank of America upped their target price 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. JPMorgan Chase & Co. boosted their price target on shares of First Horizon from $22.50 to $23.50 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Stephens reiterated an “overweight” rating and set a $24.00 price target on shares of First Horizon in a research note on Friday, January 17th. Finally, Raymond James boosted their price target on shares of First Horizon from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, First Horizon has an average rating of “Moderate Buy” and a consensus price target of $22.23.

Insider Activity

In other news, CEO D Bryan Jordan sold 109,980 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 1,861,381 shares in the company, valued at $39,330,980.53. This represents a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.87% of the company’s stock.

First Horizon Trading Down 3.0 %

Shares of FHN opened at $20.89 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The firm’s 50-day moving average is $21.18 and its two-hundred day moving average is $18.95. First Horizon Co. has a twelve month low of $13.72 and a twelve month high of $22.44. The firm has a market capitalization of $11.07 billion, a P/E ratio of 15.36, a PEG ratio of 1.19 and a beta of 0.92.

First Horizon (NYSE:FHN) last issued its earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share for the quarter, topping 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 quarter last year, the company earned $0.32 EPS. On average, research analysts predict that First Horizon Co. will post 1.67 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, March 14th. This represents a $0.60 annualized dividend and a yield of 2.87%. First Horizon’s payout ratio is currently 44.12%.

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.