Savant Capital LLC Sells 38,075 Shares of First Horizon Corporation $FHN

Savant Capital LLC decreased its stake in shares of First Horizon Corporation (NYSE:FHN) by 43.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 49,777 shares of the financial services provider’s stock after selling 38,075 shares during the period. Savant Capital LLC’s holdings in First Horizon were worth $1,190,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FHN. Artemis Investment Management LLP bought a new stake in First Horizon during the 4th quarter valued at about $90,319,000. Jupiter Asset Management Ltd. purchased a new position in First Horizon during the 3rd quarter valued at about $49,180,000. Barclays PLC increased its position in First Horizon by 370.5% during the 3rd quarter. Barclays PLC now owns 2,216,410 shares of the financial services provider’s stock valued at $50,113,000 after purchasing an additional 1,745,296 shares during the period. Qube Research & Technologies Ltd increased its position in First Horizon by 419.7% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,989,925 shares of the financial services provider’s stock valued at $44,992,000 after purchasing an additional 1,607,028 shares during the period. Finally, William Blair Investment Management LLC increased its position in First Horizon by 38.7% during the 3rd quarter. William Blair Investment Management LLC now owns 5,219,830 shares of the financial services provider’s stock valued at $118,020,000 after purchasing an additional 1,456,820 shares during the period. Institutional investors own 80.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. DA Davidson reissued a “neutral” rating and set a $26.00 target price on shares of First Horizon in a research report on Thursday, April 16th. Wall Street Zen raised shares of First Horizon from a “sell” rating to a “hold” rating in a research report on Tuesday. Weiss Ratings raised shares of First Horizon from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, April 16th. Autonomous Res downgraded shares of First Horizon from a “strong-buy” rating to a “strong sell” rating in a research report on Wednesday, April 29th. Finally, Zacks Research downgraded shares of First Horizon from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 20th. Nine investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, First Horizon has a consensus rating of “Hold” and a consensus price target of $26.45.

First Horizon Stock Down 2.5%

NYSE:FHN opened at $23.64 on Tuesday. The company has a market cap of $11.22 billion, a PE ratio of 11.82, a P/E/G ratio of 0.95 and a beta of 0.60. First Horizon Corporation has a twelve month low of $19.03 and a twelve month high of $26.56. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.15. The company’s 50 day moving average is $23.85 and its two-hundred day moving average is $23.73.

First Horizon (NYSE:FHN) last released its earnings results on Wednesday, April 15th. The financial services provider reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.04. The company had revenue of $865.00 million for the quarter, compared to the consensus estimate of $869.49 million. First Horizon had a net margin of 20.54% and a return on equity of 11.65%. First Horizon’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 EPS. Analysts anticipate that First Horizon Corporation will post 2.16 EPS for the current year.

First Horizon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, June 12th. First Horizon’s payout ratio is currently 34.00%.

About First Horizon

First Horizon Corporation, headquartered in Memphis, Tennessee, is a diversified financial services company providing an array of retail, commercial and wealth management solutions. As the largest bank-based financial services firm in Tennessee, First Horizon operates through a network of branches and digital platforms across the Southeastern United States, offering personal and business banking, mortgage origination and servicing, payment solutions and treasury management services.

Tracing its origins to the First National Bank of Memphis established in 1864, First Horizon has grown through strategic acquisitions and organic expansion to serve customers in Tennessee, Texas, North Carolina, South Carolina, Georgia and Florida.