DRW Securities LLC Takes Position in First Horizon Co. (NYSE:FHN)

DRW Securities LLC bought a new position in shares of First Horizon Co. (NYSE:FHN - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 127,527 shares of the financial services provider's stock, valued at approximately $2,568,000.

Other hedge funds have also modified their holdings of the company. Versant Capital Management Inc lifted its holdings 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 in the last quarter. Jones Financial Companies Lllp acquired a new position in First Horizon in the fourth quarter valued at about $30,000. Kentucky Trust Co bought a new position in First Horizon during the fourth quarter worth about $32,000. Lee Danner & Bass Inc. acquired a new position in shares of First Horizon during the 4th quarter worth about $50,000. Finally, MassMutual Private Wealth & Trust FSB grew its position in shares of First Horizon by 335.6% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider's stock worth $52,000 after buying an additional 2,000 shares during the period. 80.28% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO D Bryan Jordan sold 109,980 shares of the company's 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 transaction, the chief executive officer now owns 1,861,381 shares in the company, valued at approximately $39,330,980.53. This represents a 5.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.87% of the stock is owned by insiders.

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First Horizon Stock Performance

NYSE FHN traded up $0.10 on Monday, hitting $17.04. 1,592,102 shares of the stock were exchanged, compared to its average volume of 6,293,077. The business's fifty day moving average is $19.72 and its 200 day moving average is $19.49. First Horizon Co. has a 52 week low of $13.72 and a 52 week high of $22.44. The company has a market capitalization of $8.76 billion, a PE ratio of 12.53, 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 current ratio of 0.96 and a quick ratio of 0.95.

First Horizon (NYSE:FHN - Get Free Report) last issued its earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company posted $0.32 earnings per share. Research analysts anticipate that First Horizon Co. will post 1.67 EPS for the current fiscal year.

First Horizon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a dividend of $0.15 per share. The ex-dividend date was Friday, March 14th. This represents a $0.60 annualized dividend and a dividend yield of 3.52%. First Horizon's dividend payout ratio is currently 44.12%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on FHN shares. 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 report on Friday, January 17th. Bank of America lifted their target price on First Horizon from $23.00 to $25.00 and gave the stock a "buy" rating in a report on Friday, January 17th. Citigroup raised their price target on First Horizon from $24.00 to $25.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Wells Fargo & Company decreased their price objective on First Horizon from $22.00 to $20.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Finally, Barclays dropped their target price on shares of First Horizon from $25.00 to $23.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $22.30.

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.