Salzhauer Michael Purchases 25,000 Shares of First Horizon Co. (NYSE:FHN)

Salzhauer Michael grew its position in shares of First Horizon Co. (NYSE:FHN - Free Report) by 10.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 258,618 shares of the financial services provider's stock after acquiring an additional 25,000 shares during the quarter. First Horizon comprises 1.8% of Salzhauer Michael's portfolio, making the stock its 13th biggest position. Salzhauer Michael's holdings in First Horizon were worth $5,209,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp lifted 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 acquiring an additional 7,715,191 shares in the last quarter. Norges Bank acquired a new stake in shares of First Horizon during the 4th quarter worth approximately $132,418,000. Raymond James Financial Inc. acquired a new stake in shares of First Horizon in the 4th quarter worth about $102,467,000. JPMorgan Chase & Co. increased its holdings in shares of First Horizon by 160.1% in the 4th 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 period. Finally, Amundi boosted its stake in First Horizon by 255.6% during the 4th quarter. Amundi now owns 3,733,831 shares of the financial services provider's stock valued at $77,104,000 after purchasing an additional 2,683,746 shares during the period. 80.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 1,861,381 shares in the company, valued at $39,330,980.53. This trade represents a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.87% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on FHN shares. Stephens reiterated an "overweight" rating and issued a $24.00 target price on shares of First Horizon in a research report on Friday, January 17th. Robert W. Baird raised shares of First Horizon from a "neutral" rating to an "outperform" rating and set a $22.00 price target for the company in a report on Monday, April 7th. 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. StockNews.com raised First Horizon from a "sell" rating to a "hold" rating in a research report on Tuesday, April 8th. Finally, Bank of America increased their target price on First Horizon from $23.00 to $24.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Six 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. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $22.03.

First Horizon Trading Up 1.2 %

Shares of NYSE FHN traded up $0.21 during midday trading on Tuesday, reaching $16.81. 1,582,613 shares of the stock were exchanged, compared to its average volume of 6,307,940. 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 12 month low of $14.09 and a 12 month high of $22.44. The business has a 50-day simple moving average of $19.11 and a two-hundred day simple moving average of $19.57. The company has a market capitalization of $8.64 billion, a price-to-earnings ratio of 12.35, a P/E/G ratio of 1.19 and a beta of 0.60.

First Horizon (NYSE:FHN - Get Free Report) last released its earnings results on Wednesday, April 16th. The financial services provider reported $0.42 EPS for the quarter, beating the consensus estimate of $0.40 by $0.02. First Horizon had a return on equity of 10.10% and a net margin of 15.38%. The firm had revenue of $823.69 million for the quarter, compared to analysts' expectations of $825.11 million. During the same quarter in the previous year, the business posted $0.35 EPS. As a group, equities research 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. Stockholders of record on Friday, March 14th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.57%. The ex-dividend date of this dividend was Friday, March 14th. First Horizon's payout ratio is 41.67%.

First Horizon 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.