First Horizon Co. (NYSE:FHN) Shares Acquired by GSA Capital Partners LLP

GSA Capital Partners LLP boosted its holdings in First Horizon Co. (NYSE:FHN - Free Report) by 99.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 122,425 shares of the financial services provider's stock after acquiring an additional 61,150 shares during the quarter. GSA Capital Partners LLP's holdings in First Horizon were worth $1,901,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. UMB Bank n.a. grew its holdings in shares of First Horizon by 365.0% during the 3rd quarter. UMB Bank n.a. now owns 1,688 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 1,325 shares in the last quarter. Family Firm Inc. acquired a new stake in First Horizon in the second quarter worth $28,000. Nemes Rush Group LLC lifted its holdings in shares of First Horizon by 306.2% during the 2nd quarter. Nemes Rush Group LLC now owns 1,828 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 1,378 shares in the last quarter. Industrial Alliance Investment Management Inc. bought a new stake in First Horizon during the 2nd quarter worth approximately $31,000. Finally, Covestor Ltd raised its holdings in First Horizon by 44.0% during the 3rd quarter. Covestor Ltd now owns 2,130 shares of the financial services provider's stock worth $34,000 after buying an additional 651 shares during the period. 80.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP David T. Popwell sold 100,974 shares of the firm's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $19.77, for a total value of $1,996,255.98. Following the transaction, the executive vice president now directly owns 519,926 shares of the company's stock, valued at approximately $10,278,937.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.87% of the stock is owned by insiders.

First Horizon Stock Up 1.3 %

NYSE:FHN traded up $0.25 during mid-day trading on Wednesday, hitting $20.13. 8,757,956 shares of the company's stock were exchanged, compared to its average volume of 6,640,487. The company has a market cap of $10.67 billion, a PE ratio of 14.82, a P/E/G ratio of 1.48 and a beta of 0.86. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.96 and a quick ratio of 0.95. The business has a fifty day moving average price of $16.57 and a 200 day moving average price of $16.00. First Horizon Co. has a one year low of $11.86 and a one year high of $20.53.

First Horizon (NYSE:FHN - Get Free Report) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.04. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $821.63 million. First Horizon had a return on equity of 9.51% and a net margin of 15.43%. During the same period last year, the company earned $0.27 earnings per share. Equities analysts predict that First Horizon Co. will post 1.49 EPS for the current year.

First Horizon announced that its board has approved a stock repurchase plan on Tuesday, October 29th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 10.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

First Horizon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, December 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.98%. First Horizon's dividend payout ratio (DPR) is 43.48%.

Wall Street Analyst Weigh In

FHN has been the subject of several recent research reports. Evercore ISI upped their price objective on First Horizon from $18.00 to $20.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Barclays raised their price target on shares of First Horizon from $21.00 to $23.00 and gave the company an "overweight" rating in a research note on Friday, November 8th. Stephens raised their target price on First Horizon from $18.00 to $20.00 and gave the stock an "overweight" rating in a research report on Thursday, October 17th. Keefe, Bruyette & Woods restated a "market perform" rating and set a $18.00 price objective on shares of First Horizon in a research report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. lowered their price target on shares of First Horizon from $19.00 to $18.00 and set a "neutral" rating for the company in a report on Wednesday, October 9th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $18.38.

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.