Callan Family Office LLC Purchases Shares of 16,781 First Horizon Co. (NYSE:FHN)

Callan Family Office LLC acquired a new stake in First Horizon Co. (NYSE:FHN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 16,781 shares of the financial services provider's stock, valued at approximately $338,000.

A number of other hedge funds and other institutional investors have also modified their holdings of FHN. Versant Capital Management Inc raised its position in First Horizon by 160.1% during the fourth quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider's stock worth $29,000 after acquiring an additional 884 shares in the last quarter. Jones Financial Companies Lllp bought a new stake in shares of First Horizon in the 4th quarter valued at about $30,000. Kentucky Trust Co acquired a new stake in First Horizon in the 4th quarter valued at about $32,000. Covestor Ltd lifted its stake in First Horizon by 44.0% in the 3rd quarter. Covestor Ltd now owns 2,130 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 651 shares during the last quarter. Finally, True Wealth Design LLC bought a new position in First Horizon during the third quarter worth about $36,000. Institutional investors and hedge funds own 80.28% of the company's stock.

Insider Buying and Selling

In other news, CEO D Bryan Jordan sold 109,980 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $21.13, for a total value of $2,323,877.40. Following the completion of the transaction, the chief executive officer now owns 1,861,381 shares of the company's stock, 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 Securities & Exchange Commission, which can be accessed through the SEC website. 0.87% of the stock is owned by corporate insiders.

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Analyst Upgrades and Downgrades

FHN has been the subject of a number of recent analyst reports. Barclays raised their price objective on First Horizon from $23.00 to $25.00 and gave the company an "overweight" rating in a research report on Friday, December 20th. UBS Group initiated coverage on shares of First Horizon in a research report on Tuesday, December 17th. They set a "buy" rating and a $25.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on shares of First Horizon from $22.50 to $23.50 and gave the company a "neutral" rating in a report on Friday, January 17th. Citigroup lifted their target price on shares of First Horizon from $24.00 to $25.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Finally, Royal Bank of Canada upped their price target on shares of First Horizon from $22.00 to $23.00 and gave the company an "outperform" rating in a research note on Wednesday, December 11th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $22.23.

First Horizon Price Performance

FHN stock traded up $0.56 during midday trading on Friday, reaching $19.02. The company had a trading volume of 5,047,368 shares, compared to its average volume of 6,072,914. The company has a market capitalization of $9.92 billion, a price-to-earnings ratio of 13.98, a price-to-earnings-growth ratio of 1.19 and a beta of 0.86. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95. First Horizon Co. has a 1-year low of $13.72 and a 1-year high of $22.44. The stock has a 50 day moving average price of $21.00 and a 200-day moving average price of $19.07.

First Horizon (NYSE:FHN - Get Free Report) last issued 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 in the prior year, the firm posted $0.32 earnings per share. Equities research analysts expect 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 issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.16%. First Horizon's dividend payout ratio (DPR) is currently 44.12%.

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.