Farther Finance Advisors LLC Raises Position in First Horizon Co. (NYSE:FHN)

Farther Finance Advisors LLC boosted its stake in First Horizon Co. (NYSE:FHN) by 29.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,568 shares of the financial services provider’s stock after buying an additional 591 shares during the quarter. Farther Finance Advisors LLC’s holdings in First Horizon were worth $52,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of FHN. Bank of New York Mellon Corp lifted its holdings in shares of First Horizon by 26.2% during the fourth quarter. Bank of New York Mellon Corp now owns 37,131,162 shares of the financial services provider’s stock valued at $747,822,000 after purchasing an additional 7,715,191 shares during the last quarter. State Street Corp lifted its holdings in shares of First Horizon by 18.6% during the third quarter. State Street Corp now owns 26,236,784 shares of the financial services provider’s stock valued at $410,789,000 after purchasing an additional 4,116,486 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of First Horizon by 0.7% during the third quarter. Geode Capital Management LLC now owns 9,346,924 shares of the financial services provider’s stock valued at $145,194,000 after purchasing an additional 61,397 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of First Horizon during the fourth quarter valued at approximately $102,467,000. Finally, Amundi lifted its holdings in shares of First Horizon by 255.6% during the fourth quarter. Amundi now owns 3,733,831 shares of the financial services provider’s stock valued at $77,104,000 after purchasing an additional 2,683,746 shares during the last quarter. 80.28% of the stock is currently owned by hedge funds and other institutional investors.

First Horizon Trading Up 0.2 %

NYSE:FHN opened at $19.26 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. First Horizon Co. has a 12 month low of $13.72 and a 12 month high of $22.44. The company has a market cap of $9.90 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 1.19 and a beta of 0.86. The company has a 50 day simple moving average of $20.80 and a two-hundred day simple moving average of $19.22.

First Horizon (NYSE:FHN) last posted its earnings results on Thursday, January 16th. The financial services provider reported $0.43 EPS 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 period in the prior year, the firm posted $0.32 earnings per share. Research analysts forecast that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Friday, March 14th. First Horizon’s dividend payout ratio is presently 44.12%.

Insider Transactions at First Horizon

In other news, CEO D Bryan Jordan sold 109,980 shares of First Horizon stock in a transaction on Wednesday, January 22nd. The shares were 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 owns 1,861,381 shares in the company, valued at $39,330,980.53. This trade represents a 5.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.87% of the company’s stock.

Analyst Upgrades and Downgrades

FHN has been the subject of several recent research reports. Stephens reiterated an “overweight” rating and set a $24.00 target price on shares of First Horizon in a report on Friday, January 17th. Bank of America raised their price target on shares of First Horizon from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Citigroup raised their price target on shares of First Horizon from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, February 28th. JPMorgan Chase & Co. raised their price target on shares of First Horizon from $22.50 to $23.50 and gave the company a “neutral” rating in a research report on Friday, January 17th. Finally, Keefe, Bruyette & Woods raised their price target on shares of First Horizon from $23.00 to $24.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.23.

About First Horizon

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.