Radnor Capital Management LLC Has $601,000 Stock Position in First Horizon Co. (NYSE:FHN)

Radnor Capital Management LLC reduced its holdings in shares of First Horizon Co. (NYSE:FHN) by 21.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,850 shares of the financial services provider’s stock after selling 7,950 shares during the quarter. Radnor Capital Management LLC’s holdings in First Horizon were worth $601,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of FHN. Wedmont Private Capital raised its stake in First Horizon by 5.0% during the fourth quarter. Wedmont Private Capital now owns 42,598 shares of the financial services provider’s stock worth $855,000 after acquiring an additional 2,024 shares in the last quarter. Everence Capital Management Inc. acquired a new position in First Horizon during the 4th quarter worth approximately $286,000. GAMMA Investing LLC lifted its stake in First Horizon by 10.6% in the 4th quarter. GAMMA Investing LLC now owns 9,117 shares of the financial services provider’s stock valued at $184,000 after purchasing an additional 875 shares during the last quarter. Versant Capital Management Inc lifted its stake in First Horizon by 160.1% in the 4th quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 884 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in First Horizon by 552.9% in the third quarter. Franklin Resources Inc. now owns 273,693 shares of the financial services provider’s stock valued at $4,502,000 after buying an additional 231,773 shares in the last quarter. 80.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FHN has been the subject of a number of research reports. The Goldman Sachs Group increased their price target on First Horizon from $18.50 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Wedbush downgraded First Horizon from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $20.00 to $17.00 in a research report on Tuesday, September 24th. Evercore ISI boosted their price target on First Horizon from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. UBS Group initiated coverage on shares of First Horizon in a report on Tuesday, December 17th. They set a “buy” rating and a $25.00 target price on the stock. Finally, Barclays raised their price target on shares of First Horizon from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, First Horizon presently has an average rating of “Moderate Buy” and a consensus target price of $21.35.

First Horizon Stock Performance

Shares of First Horizon stock opened at $21.36 on Thursday. The company has a market cap of $11.32 billion, a P/E ratio of 15.48, a PEG ratio of 1.51 and a beta of 0.92. 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 business has a 50-day moving average price of $20.33 and a two-hundred day moving average price of $17.59. First Horizon Co. has a 1-year low of $12.95 and a 1-year high of $21.72.

First Horizon (NYSE:FHN) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $821.63 million. First Horizon had a return on equity of 9.51% and a net margin of 15.43%. During the same period in the previous year, the company posted $0.27 earnings per share. As a group, analysts anticipate that First Horizon Co. will post 1.49 EPS for the current year.

First Horizon announced that its board has authorized a share buyback program on Tuesday, October 29th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 10.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

First Horizon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend was Friday, December 13th. First Horizon’s dividend payout ratio is presently 43.48%.

Insiders Place Their Bets

In other First Horizon news, Director Harry V. Barton, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $19.92, for a total value of $199,200.00. Following the completion of the sale, the director now owns 166,840 shares of the company’s stock, valued at approximately $3,323,452.80. This trade represents a 5.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP David T. Popwell sold 100,974 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $19.77, for a total value of $1,996,255.98. Following the transaction, the executive vice president now directly owns 519,926 shares in the company, valued at $10,278,937.02. The trade was a 16.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.87% of the company’s stock.

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.