Sculptor Capital LP Has $61.65 Million Stock Holdings in First Horizon Co. (NYSE:FHN)

Sculptor Capital LP decreased its position in First Horizon Co. (NYSE:FHN) by 38.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,061,000 shares of the financial services provider’s stock after selling 1,939,000 shares during the period. Sculptor Capital LP’s holdings in First Horizon were worth $61,649,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Royal Bank of Canada raised its holdings in shares of First Horizon by 356.6% in the 4th quarter. Royal Bank of Canada now owns 947,117 shares of the financial services provider’s stock worth $19,076,000 after buying an additional 739,679 shares in the last quarter. Point72 Europe London LLP boosted its stake in shares of First Horizon by 1.7% in the 4th quarter. Point72 Europe London LLP now owns 455,757 shares of the financial services provider’s stock valued at $9,179,000 after purchasing an additional 7,427 shares in the last quarter. Polar Capital Holdings Plc bought a new stake in shares of First Horizon in the 4th quarter worth about $7,571,000. ProShare Advisors LLC increased its position in shares of First Horizon by 6.2% during the 4th quarter. ProShare Advisors LLC now owns 24,803 shares of the financial services provider’s stock worth $500,000 after purchasing an additional 1,442 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in First Horizon by 39.4% during the 4th quarter. Quantinno Capital Management LP now owns 38,699 shares of the financial services provider’s stock valued at $779,000 after purchasing an additional 10,939 shares during the last quarter. Institutional investors own 80.28% of the company’s stock.

First Horizon Stock Up 0.5%

Shares of NYSE:FHN opened at $20.36 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95. The stock has a market cap of $10.32 billion, a price-to-earnings ratio of 14.97, a P/E/G ratio of 1.19 and a beta of 0.59. The company has a 50 day moving average of $18.40 and a 200-day moving average of $19.80. First Horizon Co. has a one year low of $14.09 and a one year high of $22.44.

First Horizon (NYSE:FHN) last announced its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. The firm had revenue of $823.69 million for the quarter, compared to analysts’ expectations of $825.11 million. First Horizon had a net margin of 15.38% and a return on equity of 10.10%. During the same period last year, the firm earned $0.35 earnings per share. On average, sell-side analysts forecast that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, June 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.95%. First Horizon’s dividend payout ratio (DPR) is presently 41.67%.

Analysts Set New Price Targets

Several research firms have recently weighed in on FHN. Wells Fargo & Company dropped their price objective on shares of First Horizon from $22.00 to $20.00 and set an “equal weight” rating for the company in a report on Wednesday, April 9th. Truist Financial assumed coverage on First Horizon in a research note on Tuesday. They issued a “hold” rating and a $21.00 price objective on the stock. JPMorgan Chase & Co. raised their target price on First Horizon from $22.50 to $23.50 and gave the company a “neutral” rating in a research note on Friday, January 17th. Citigroup upped their price target on shares of First Horizon from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Finally, StockNews.com raised shares of First Horizon from a “sell” rating to a “hold” rating in a research note on Monday, May 12th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, First Horizon currently has a consensus rating of “Moderate Buy” and an average target price of $21.97.

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.