Nilsine Partners LLC Sells 1,261 Shares of First Horizon Co. (NYSE:FHN)

Nilsine Partners LLC lessened its position in First Horizon Co. (NYSE:FHN) by 10.3% during the first quarter, Holdings Channel.com reports. The fund owned 10,946 shares of the financial services provider’s stock after selling 1,261 shares during the period. Nilsine Partners LLC’s holdings in First Horizon were worth $169,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Macroview Investment Management LLC bought a new stake in First Horizon in the 3rd quarter worth $25,000. Rise Advisors LLC bought a new stake in First Horizon in the 1st quarter worth $25,000. Raleigh Capital Management Inc. bought a new stake in First Horizon in the 4th quarter worth $28,000. Fortitude Family Office LLC grew its holdings in First Horizon by 129.3% in the 1st quarter. Fortitude Family Office LLC now owns 1,954 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 1,102 shares during the last quarter. Finally, Richardson Financial Services Inc. bought a new stake in First Horizon in the 4th quarter worth $35,000. Institutional investors own 80.28% of the company’s stock.

First Horizon Stock Up 0.5 %

First Horizon stock traded up $0.08 during trading hours on Tuesday, hitting $14.92. The stock had a trading volume of 8,372,496 shares, compared to its average volume of 7,042,042. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $8.28 billion, a P/E ratio of 10.43, a price-to-earnings-growth ratio of 4.07 and a beta of 0.94. First Horizon Co. has a 12-month low of $8.99 and a 12-month high of $17.82. The stock’s 50-day moving average price is $14.66 and its 200-day moving average price is $13.60.

First Horizon (NYSE:FHN) last issued its earnings results on Wednesday, April 17th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. The business had revenue of $819.00 million during the quarter, compared to analysts’ expectations of $809.51 million. First Horizon had a net margin of 16.07% and a return on equity of 8.96%. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.46 earnings per share. Equities research analysts anticipate that First Horizon Co. will post 1.5 EPS for the current fiscal year.

First Horizon declared that its board has authorized a stock repurchase plan on Tuesday, January 23rd that authorizes the company to buyback $650.00 million in shares. This buyback authorization authorizes the financial services provider to repurchase up to 7.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.

First Horizon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $0.15 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.60 annualized dividend and a yield of 4.02%. First Horizon’s dividend payout ratio (DPR) is presently 41.96%.

Analyst Ratings Changes

FHN has been the topic of a number of recent analyst reports. UBS Group raised shares of First Horizon from a “neutral” rating to a “buy” rating and raised their price target for the stock from $15.50 to $16.00 in a report on Wednesday, January 24th. Raymond James raised shares of First Horizon from an “outperform” rating to a “strong-buy” rating and lifted their target price for the company from $13.00 to $17.00 in a research note on Friday, January 5th. StockNews.com raised shares of First Horizon from a “sell” rating to a “hold” rating in a research note on Friday, April 19th. Robert W. Baird lifted their target price on shares of First Horizon from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, April 18th. Finally, Barclays initiated coverage on shares of First Horizon in a research note on Friday, March 8th. They set an “overweight” rating and a $18.00 target price on the stock. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $16.15.

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.