FreeGulliver LLC Invests $2.04 Million in First Horizon Co. (NYSE:FHN)

FreeGulliver LLC bought a new position in shares of First Horizon Co. (NYSE:FHN - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 101,093 shares of the financial services provider's stock, valued at approximately $2,036,000. First Horizon comprises approximately 1.0% of FreeGulliver LLC's investment portfolio, making the stock its 18th largest position.

Several other hedge funds and other institutional investors also recently modified their holdings of FHN. Xponance Inc. increased its position in First Horizon by 4.8% during the 4th quarter. Xponance Inc. now owns 61,171 shares of the financial services provider's stock worth $1,232,000 after purchasing an additional 2,804 shares in the last quarter. Intech Investment Management LLC increased its holdings in shares of First Horizon by 53.2% during the fourth quarter. Intech Investment Management LLC now owns 644,742 shares of the financial services provider's stock worth $12,985,000 after buying an additional 223,993 shares in the last quarter. one8zero8 LLC bought a new position in shares of First Horizon in the 4th quarter valued at $262,000. Natixis Advisors LLC boosted its holdings in shares of First Horizon by 0.9% during the 4th quarter. Natixis Advisors LLC now owns 301,577 shares of the financial services provider's stock valued at $6,074,000 after acquiring an additional 2,687 shares in the last quarter. Finally, Poinciana Advisors Group LLC bought a new stake in First Horizon during the 4th quarter worth $262,000. Institutional investors own 80.28% of the company's stock.

First Horizon Trading Up 0.2 %

Shares of First Horizon stock traded up $0.04 on Friday, reaching $19.26. 11,623,347 shares of the company's stock were exchanged, compared to its average volume of 6,041,633. The firm's 50-day moving average is $20.80 and its two-hundred day moving average is $19.19. The company has a market capitalization of $9.90 billion, a P/E ratio of 14.16, a price-to-earnings-growth ratio of 1.19 and a beta of 0.86. 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 Co. has a 52 week low of $13.72 and a 52 week high of $22.44.

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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, topping 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 quarter last year, the firm earned $0.32 EPS. Sell-side analysts predict that First Horizon Co. will post 1.67 EPS for the current fiscal year.

First Horizon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date is Friday, March 14th. First Horizon's payout ratio is 44.12%.

Insider Buying and Selling

In other news, CEO D Bryan Jordan sold 109,980 shares of the business's stock in a transaction that occurred 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.87% of the stock is owned by company insiders.

Analyst Ratings Changes

FHN has been the topic of a number of recent research reports. UBS Group assumed coverage on First Horizon in a research note on Tuesday, December 17th. They set a "buy" rating and a $25.00 price target on the stock. Stephens reiterated an "overweight" rating and set a $24.00 target price on shares of First Horizon in a research report on Friday, January 17th. Keefe, Bruyette & Woods upped their price target on shares of First Horizon from $23.00 to $24.00 and gave the company a "market perform" rating in a research report on Thursday, December 19th. Citigroup raised their price target on shares of First Horizon from $24.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Finally, Wells Fargo & Company boosted their price objective on shares of First Horizon from $21.00 to $22.00 and gave the stock an "equal weight" rating in a research note on Friday, January 17th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $22.23.

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.