Advisory Services Network LLC Buys Shares of 23,776 First Horizon Co. (NYSE:FHN)

Advisory Services Network LLC bought a new position in shares of First Horizon Co. (NYSE:FHN - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 23,776 shares of the financial services provider's stock, valued at approximately $479,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC boosted its holdings in First Horizon by 3.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 15,731 shares of the financial services provider's stock valued at $317,000 after acquiring an additional 571 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of First Horizon by 29.9% in the 4th quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 591 shares during the last quarter. Independent Advisor Alliance increased its position in shares of First Horizon by 1.1% during the fourth quarter. Independent Advisor Alliance now owns 57,730 shares of the financial services provider's stock worth $1,163,000 after buying an additional 632 shares during the period. Access Investment Management LLC raised its stake in First Horizon by 0.8% during the fourth quarter. Access Investment Management LLC now owns 88,490 shares of the financial services provider's stock worth $1,782,000 after buying an additional 675 shares during the last quarter. Finally, Thoroughbred Financial Services LLC lifted its holdings in First Horizon by 4.8% in the fourth quarter. Thoroughbred Financial Services LLC now owns 14,621 shares of the financial services provider's stock valued at $294,000 after buying an additional 676 shares during the period. 80.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Barclays lowered their price objective on First Horizon from $25.00 to $23.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods lowered their target price on First Horizon from $24.00 to $22.00 and set a "market perform" rating for the company in a report on Thursday, April 17th. Robert W. Baird upgraded First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 price target on the stock in a report on Monday, April 7th. Wells Fargo & Company lowered 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 research note on Wednesday, April 9th. Finally, JPMorgan Chase & Co. increased their target price on shares of First Horizon from $22.50 to $23.50 and gave the stock a "neutral" rating in a research note on Friday, January 17th. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.03.

Insiders Place Their Bets

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the business's stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $21.13, for a total value of $2,323,877.40. Following the transaction, the chief executive officer now owns 1,861,381 shares of the company's stock, valued at approximately $39,330,980.53. The trade was a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.87% of the stock is currently owned by insiders.

First Horizon Stock Up 2.7 %

Shares of First Horizon stock traded up $0.46 on Tuesday, hitting $17.06. The company had a trading volume of 7,720,876 shares, compared to its average volume of 6,337,640. The stock has a market capitalization of $8.77 billion, a price-to-earnings ratio of 12.54, a P/E/G ratio of 1.19 and a beta of 0.60. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96. First Horizon Co. has a 1 year low of $14.09 and a 1 year high of $22.44. The stock has a 50 day moving average of $19.01 and a 200-day moving average of $19.55.

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

First Horizon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.52%. The ex-dividend date was Friday, March 14th. First Horizon's dividend payout ratio (DPR) is presently 41.67%.

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.