Hancock Whitney Corp Purchases Shares of 26,816 First Horizon Co. (NYSE:FHN)

Hancock Whitney Corp acquired a new position in shares of First Horizon Co. (NYSE:FHN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 26,816 shares of the financial services provider's stock, valued at approximately $540,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Belpointe Asset Management LLC grew its stake in First Horizon by 3.1% in the fourth quarter. Belpointe Asset Management LLC now owns 17,631 shares of the financial services provider's stock valued at $355,000 after acquiring an additional 535 shares during the period. Steward Partners Investment Advisory LLC increased its stake in First Horizon by 3.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 15,731 shares of the financial services provider's stock valued at $317,000 after purchasing an additional 571 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in First Horizon by 29.9% during the fourth quarter. Farther Finance Advisors LLC now owns 2,568 shares of the financial services provider's stock worth $52,000 after buying an additional 591 shares during the last quarter. Independent Advisor Alliance lifted its stake in shares of First Horizon by 1.1% in the fourth quarter. Independent Advisor Alliance now owns 57,730 shares of the financial services provider's stock valued at $1,163,000 after buying an additional 632 shares in the last quarter. Finally, Access Investment Management LLC grew its holdings in shares of First Horizon by 0.8% during the fourth quarter. Access Investment Management LLC now owns 88,490 shares of the financial services provider's stock valued at $1,782,000 after buying an additional 675 shares during the last quarter. 80.28% of the stock is owned by institutional investors.

First Horizon Trading Up 0.2 %

Shares of FHN stock opened at $17.81 on Friday. First Horizon Co. has a 1 year low of $14.09 and a 1 year high of $22.44. The company's fifty day simple moving average is $18.74 and its two-hundred day simple moving average is $19.59. 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 stock has a market capitalization of $9.16 billion, a price-to-earnings ratio of 13.10, a PEG ratio of 1.19 and a beta of 0.60.

First Horizon (NYSE:FHN - Get Free Report) last issued its earnings results on Wednesday, April 16th. The financial services provider reported $0.42 EPS for the quarter, topping the consensus estimate of $0.40 by $0.02. The business 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 quarter last year, the company earned $0.35 EPS. As a group, analysts anticipate that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Announces Dividend

The company 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. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.60 annualized dividend and a yield of 3.37%. First Horizon's dividend payout ratio is currently 41.67%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Citigroup raised their target price on First Horizon from $24.00 to $25.00 and gave the company a "buy" rating in a report on Friday, February 28th. Raymond James reduced their target price on shares of First Horizon from $23.00 to $22.00 and set an "outperform" rating for the company in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. raised their price target on shares of First Horizon from $22.50 to $23.50 and gave the company a "neutral" rating in a research report on Friday, January 17th. Keefe, Bruyette & Woods reduced their price objective on shares of First Horizon from $24.00 to $22.00 and set a "market perform" rating for the company in a research report on Thursday, April 17th. Finally, Royal Bank of Canada cut their target price on First Horizon from $24.00 to $22.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Six equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $22.03.

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.

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