First Horizon Co. (NYSE:FHN) Shares Bought by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky boosted its position in shares of First Horizon Co. (NYSE:FHN - Free Report) by 341.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 746,866 shares of the financial services provider's stock after acquiring an additional 577,717 shares during the period. Teachers Retirement System of The State of Kentucky owned about 0.14% of First Horizon worth $15,042,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp increased its stake in First Horizon by 26.2% in the fourth quarter. Bank of New York Mellon Corp now owns 37,131,162 shares of the financial services provider's stock valued at $747,822,000 after purchasing an additional 7,715,191 shares during the last quarter. Norges Bank acquired a new position in First Horizon in the fourth quarter valued at $132,418,000. Raymond James Financial Inc. acquired a new stake in shares of First Horizon in the 4th quarter valued at about $102,467,000. JPMorgan Chase & Co. grew its position in shares of First Horizon by 160.1% during the fourth quarter. JPMorgan Chase & Co. now owns 5,524,827 shares of the financial services provider's stock worth $111,270,000 after acquiring an additional 3,400,811 shares during the last quarter. Finally, Amundi increased its holdings in shares of First Horizon by 255.6% in the 4th quarter. Amundi now owns 3,733,831 shares of the financial services provider's stock valued at $77,104,000 after acquiring an additional 2,683,746 shares during the period. 80.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on FHN shares. Barclays lowered their price objective on shares of First Horizon from $25.00 to $23.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. StockNews.com raised First Horizon from a "sell" rating to a "hold" rating in a report on Tuesday, April 8th. Citigroup upped their price objective on First Horizon from $24.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Baird R W upgraded First Horizon from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Finally, JPMorgan Chase & Co. upped their price target on First Horizon from $22.50 to $23.50 and gave the stock a "neutral" rating in a research note on Friday, January 17th. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, First Horizon currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.03.

First Horizon Price Performance

NYSE:FHN traded up $0.04 during mid-day trading on Friday, hitting $17.81. 4,427,713 shares of the company's stock traded hands, compared to its average volume of 6,342,063. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96. The company has a market cap of $9.16 billion, a PE ratio of 13.10, a price-to-earnings-growth ratio of 1.19 and a beta of 0.60. The firm's 50 day simple moving average is $18.74 and its 200 day simple moving average is $19.62. First Horizon Co. has a 1 year low of $14.09 and a 1 year high of $22.44.

First Horizon (NYSE:FHN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.02. The firm had revenue of $823.69 million during 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 period in the previous year, the firm posted $0.35 EPS. Sell-side analysts expect that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date was Friday, March 14th. First Horizon's payout ratio is currently 41.67%.

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.