Fisher Asset Management LLC Grows Stake in First Horizon Co. (NYSE:FHN)

Fisher Asset Management LLC increased its holdings in First Horizon Co. (NYSE:FHN - Free Report) by 237.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 818,345 shares of the financial services provider's stock after buying an additional 575,661 shares during the quarter. Fisher Asset Management LLC owned 0.15% of First Horizon worth $16,481,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Fort Sheridan Advisors LLC boosted its stake in shares of First Horizon by 34.1% during the 4th quarter. Fort Sheridan Advisors LLC now owns 47,170 shares of the financial services provider's stock worth $950,000 after acquiring an additional 12,000 shares during the last quarter. Versor Investments LP purchased a new position in First Horizon during the fourth quarter valued at $294,000. Proficio Capital Partners LLC purchased a new position in First Horizon during the fourth quarter valued at $2,589,000. Carlson Capital L.P. bought a new stake in First Horizon during the fourth quarter valued at about $1,094,000. Finally, Bank of New York Mellon Corp raised its stake in shares of 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 worth $747,822,000 after buying an additional 7,715,191 shares during the period. 80.28% of the stock is currently owned by institutional investors.

Insider Activity at First Horizon

In related news, CEO D Bryan Jordan sold 109,980 shares of the business's stock in a transaction on 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 transaction, the chief executive officer now owns 1,861,381 shares in the company, valued at $39,330,980.53. The trade was a 5.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.87% of the stock is currently owned by insiders.

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Wall Street Analyst Weigh In

FHN has been the topic of a number of recent analyst reports. Stephens restated an "overweight" rating and set a $24.00 target price on shares of First Horizon in a research note on Friday, January 17th. Barclays raised their price objective on shares of First Horizon from $23.00 to $25.00 and gave the company an "overweight" rating in a research report on Friday, December 20th. Wells Fargo & Company upped their target price on shares of First Horizon from $21.00 to $22.00 and gave the stock an "equal weight" rating in a report on Friday, January 17th. Raymond James raised their price target on First Horizon from $19.00 to $22.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. upped their price objective on First Horizon from $22.50 to $23.50 and gave the stock a "neutral" rating in a research note on Friday, January 17th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $22.23.

First Horizon Trading Down 1.6 %

FHN stock traded down $0.31 during midday trading on Friday, reaching $18.93. 12,955,022 shares of the company traded hands, compared to its average volume of 6,099,549. The firm has a market capitalization of $9.87 billion, a price-to-earnings ratio of 13.92, a P/E/G ratio of 1.19 and a beta of 0.86. First Horizon Co. has a 52-week low of $13.72 and a 52-week high of $22.44. The business has a 50 day moving average of $21.14 and a 200-day moving average of $18.98. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96.

First Horizon (NYSE:FHN - Get Free Report) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.05. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. During the same quarter last year, the firm posted $0.32 EPS. As a group, sell-side analysts expect that First Horizon Co. will post 1.67 earnings per share for the current fiscal year.

First Horizon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.17%. First Horizon's dividend payout ratio is presently 44.12%.

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.