First Horizon Co. (NYSE:FHN) is Duncan Williams Asset Management LLC’s 8th Largest Position

Duncan Williams Asset Management LLC lowered its holdings in First Horizon Co. (NYSE:FHN) by 3.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 358,244 shares of the financial services provider’s stock after selling 12,371 shares during the quarter. First Horizon makes up 2.8% of Duncan Williams Asset Management LLC’s portfolio, making the stock its 8th biggest position. Duncan Williams Asset Management LLC owned 0.07% of First Horizon worth $7,215,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Versant Capital Management Inc lifted its position in First Horizon by 160.1% during the fourth quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 884 shares during the last quarter. UMB Bank n.a. boosted its position in shares of First Horizon by 365.0% in the 3rd quarter. UMB Bank n.a. now owns 1,688 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 1,325 shares in the last quarter. Nemes Rush Group LLC grew its stake in First Horizon by 306.2% during the 2nd quarter. Nemes Rush Group LLC now owns 1,828 shares of the financial services provider’s stock worth $29,000 after buying an additional 1,378 shares during the last quarter. Covestor Ltd increased its position in First Horizon by 44.0% during the 3rd quarter. Covestor Ltd now owns 2,130 shares of the financial services provider’s stock valued at $34,000 after buying an additional 651 shares in the last quarter. Finally, True Wealth Design LLC purchased a new stake in First Horizon in the third quarter valued at about $36,000. Hedge funds and other institutional investors own 80.28% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on FHN shares. Raymond James upped their target price on First Horizon from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Keefe, Bruyette & Woods upped their target price on First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. raised their price target on shares of First Horizon from $22.50 to $23.50 and gave the stock a “neutral” rating in a research report on Friday, January 17th. The Goldman Sachs Group upped 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, Bank of America raised their target price on shares of First Horizon from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.04.

First Horizon Price Performance

First Horizon stock opened at $21.05 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. First Horizon Co. has a 52-week low of $13.45 and a 52-week high of $21.82. The firm has a market cap of $11.16 billion, a PE ratio of 15.48, a price-to-earnings-growth ratio of 1.19 and a beta of 0.92. The company’s 50 day moving average is $20.53 and its two-hundred day moving average is $17.90.

First Horizon (NYSE:FHN) last released its earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates 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 business earned $0.32 EPS. On average, research analysts expect that First Horizon Co. will post 1.63 EPS for the current fiscal year.

First Horizon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were paid a $0.15 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.60 annualized dividend and a yield of 2.85%. First Horizon’s dividend payout ratio is currently 44.12%.

First Horizon declared that its board has authorized a share repurchase plan on Tuesday, October 29th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 10.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, EVP David T. Popwell sold 100,974 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $19.77, for a total value of $1,996,255.98. Following the completion of the sale, the executive vice president now owns 519,926 shares in the company, valued at $10,278,937.02. This represents a 16.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO D Bryan Jordan sold 109,980 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $21.13, for a total transaction of $2,323,877.40. Following the transaction, the chief executive officer now directly owns 1,861,381 shares in the company, valued at $39,330,980.53. The trade was a 5.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 220,954 shares of company stock valued at $4,519,333. 0.87% of the stock is owned by corporate insiders.

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.