Alliancebernstein L.P. Buys 196,321 Shares of First Horizon Co. (NYSE:FHN)

Alliancebernstein L.P. grew its position in shares of First Horizon Co. (NYSE:FHN - Free Report) by 18.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,272,804 shares of the financial services provider's stock after acquiring an additional 196,321 shares during the quarter. Alliancebernstein L.P. owned 0.24% of First Horizon worth $25,634,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc increased its position in shares of First Horizon by 160.1% during 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. Jones Financial Companies Lllp purchased a new stake in shares of First Horizon during the fourth quarter worth $30,000. Kentucky Trust Co purchased a new stake in First Horizon during the 4th quarter worth about $32,000. Lee Danner & Bass Inc. bought a new position in First Horizon in the 4th quarter worth about $50,000. Finally, Farther Finance Advisors LLC grew its holdings in First Horizon by 29.9% during the 4th quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider's stock valued at $52,000 after buying an additional 591 shares in the last quarter. Institutional investors own 80.28% of the company's stock.

Insider Activity at First Horizon

In related news, CEO D Bryan Jordan sold 109,980 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now directly owns 1,861,381 shares of the company's stock, valued at $39,330,980.53. This trade represents 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 available through this link. 0.87% of the stock is currently owned by company insiders.

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First Horizon Trading Down 0.1 %

Shares of NYSE:FHN traded down $0.02 on Friday, reaching $16.92. 6,616,534 shares of the company traded hands, compared to its average volume of 6,304,523. The stock has a market capitalization of $8.70 billion, a P/E ratio of 12.44, a price-to-earnings-growth ratio of 1.19 and a beta of 0.60. The business's 50-day simple moving average is $19.72 and its 200 day simple moving average is $19.46. 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 52 week low of $13.72 and a 52 week high of $22.44.

First Horizon (NYSE:FHN - Get Free Report) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.05. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. During the same quarter last year, the business posted $0.32 EPS. As a group, equities analysts anticipate that First Horizon Co. will post 1.67 EPS for the current fiscal year.

First Horizon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend was Friday, March 14th. First Horizon's payout ratio is 44.12%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on FHN shares. Wells Fargo & Company lowered their price target on shares of First Horizon from $22.00 to $20.00 and set an "equal weight" rating on the stock in a report on Wednesday. JPMorgan Chase & Co. boosted their price objective on First Horizon from $22.50 to $23.50 and gave the stock a "neutral" rating in a report on Friday, January 17th. Stephens reiterated an "overweight" rating and set a $24.00 target price on shares of First Horizon in a research report on Friday, January 17th. Barclays decreased their price target on shares of First Horizon from $25.00 to $23.00 and set an "overweight" rating on the stock in a report on Tuesday. Finally, Bank of America lifted their price objective on shares of First Horizon from $23.00 to $25.00 and gave the stock a "buy" rating in a report on Friday, January 17th. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, First Horizon presently has a consensus rating of "Moderate Buy" and an average target price of $22.30.

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.