34,327 Shares in First Horizon Co. (NYSE:FHN) Acquired by B. Metzler seel. Sohn & Co. AG

B. Metzler seel. Sohn & Co. AG bought a new position in First Horizon Co. (NYSE:FHN - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 34,327 shares of the financial services provider's stock, valued at approximately $691,000.

A number of other hedge funds have also bought and sold shares of FHN. Versant Capital Management Inc raised its position in 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 worth $29,000 after buying an additional 884 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of First Horizon in the fourth quarter worth $30,000. Kentucky Trust Co purchased a new position in shares of First Horizon during the fourth quarter worth $32,000. Lee Danner & Bass Inc. acquired a new position in First Horizon during the fourth quarter valued at $50,000. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in First Horizon by 335.6% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 80.28% of the company's stock.

Wall Street Analyst Weigh In

FHN has been the subject of several analyst reports. Citigroup boosted their price objective on First Horizon from $24.00 to $25.00 and gave the company a "buy" rating in a report on Friday, February 28th. UBS Group initiated coverage on First Horizon in a report on Tuesday, December 17th. They issued a "buy" rating and a $25.00 price target for the company. Baird R W raised shares of First Horizon from a "hold" rating to a "strong-buy" rating in a research note on Monday. Raymond James decreased their target price on shares of First Horizon from $23.00 to $22.00 and set an "outperform" rating for the company in a research note on Wednesday, April 2nd. Finally, 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. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $22.30.

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Insiders Place Their Bets

In related news, CEO D Bryan Jordan sold 109,980 shares of the company's stock in a transaction that occurred 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 directly owns 1,861,381 shares in the company, valued at approximately $39,330,980.53. This represents a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.87% of the stock is currently owned by corporate insiders.

First Horizon Price Performance

Shares of First Horizon stock traded down $1.13 during trading hours on Thursday, reaching $16.94. 1,952,496 shares of the company's stock were exchanged, compared to its average volume of 6,270,477. The business has a fifty day moving average of $19.91 and a two-hundred day moving average of $19.44. The company has a market capitalization of $8.71 billion, a P/E ratio of 12.49, a price-to-earnings-growth ratio of 1.19 and a beta of 0.60. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. First Horizon Co. has a 1 year low of $13.72 and a 1 year 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 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 quarter last year, the firm earned $0.32 EPS. As a group, research analysts predict that First Horizon Co. will post 1.67 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a dividend of $0.15 per share. The ex-dividend date was Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a yield of 3.54%. First Horizon's payout ratio is 44.12%.

First Horizon 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.