First Horizon Co. (NYSE:FHN) Shares Purchased by FIL Ltd

FIL Ltd raised its stake in First Horizon Co. (NYSE:FHN - Free Report) by 33.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 807,802 shares of the financial services provider's stock after acquiring an additional 200,927 shares during the period. FIL Ltd owned approximately 0.15% of First Horizon worth $16,269,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Versant Capital Management Inc raised its position in First Horizon by 160.1% in 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 bought a new position in First Horizon during the fourth quarter valued at approximately $30,000. Kentucky Trust Co bought a new stake in First Horizon in the 4th quarter worth approximately $32,000. Lee Danner & Bass Inc. purchased a new stake in First Horizon during the 4th quarter valued at $50,000. Finally, Farther Finance Advisors LLC lifted its holdings in shares of 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 during the period. Institutional investors own 80.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FHN. Raymond James cut their price target on First Horizon from $23.00 to $22.00 and set an "outperform" rating for the company in a research note on Wednesday, April 2nd. Robert W. Baird upgraded First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 price objective for the company in a research note on Monday, April 7th. Royal Bank of Canada reduced their price target on First Horizon from $24.00 to $22.00 and set an "outperform" rating for the company in a research report on Thursday. Bank of America raised their target price on shares of First Horizon from $23.00 to $24.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Wells Fargo & Company lowered their target price on shares of First Horizon from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $22.03.

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Insiders Place Their Bets

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

First Horizon Trading Up 0.0 %

FHN traded up $0.01 on Thursday, hitting $17.29. The company had a trading volume of 2,535,159 shares, compared to its average volume of 6,310,283. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The firm has a market cap of $8.89 billion, a P/E ratio of 12.71, a PEG ratio of 1.19 and a beta of 0.60. The company's fifty day moving average price is $19.43 and its 200 day moving average price is $19.48. First Horizon Co. has a 1 year low of $13.93 and a 1 year high of $22.44.

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

First Horizon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.47%. The ex-dividend date was Friday, March 14th. First Horizon's payout ratio is presently 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.