First Horizon Co. (NYSE:FHN) Holdings Boosted by Headlands Technologies LLC

Headlands Technologies LLC raised its holdings in First Horizon Co. (NYSE:FHN - Free Report) by 505.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,178 shares of the financial services provider's stock after purchasing an additional 30,206 shares during the quarter. Headlands Technologies LLC's holdings in First Horizon were worth $729,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Bank of New York Mellon Corp lifted its position in 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 valued at $747,822,000 after buying an additional 7,715,191 shares during the last quarter. State Street Corp lifted its holdings in shares of First Horizon by 18.6% in the 3rd quarter. State Street Corp now owns 26,236,784 shares of the financial services provider's stock worth $410,789,000 after acquiring an additional 4,116,486 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of First Horizon by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 9,346,924 shares of the financial services provider's stock worth $145,194,000 after acquiring an additional 61,397 shares during the last quarter. Norges Bank purchased a new position in shares of First Horizon during the 4th quarter worth approximately $132,418,000. Finally, JPMorgan Chase & Co. increased its holdings in 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 valued at $111,270,000 after purchasing an additional 3,400,811 shares during the last quarter. Institutional investors and hedge funds own 80.28% of the company's stock.

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First Horizon Stock Performance

FHN traded down $1.06 during trading hours on Friday, hitting $16.16. 11,098,975 shares of the stock were exchanged, compared to its average volume of 6,222,471. 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 $13.72 and a 12 month high of $22.44. The stock has a 50-day simple moving average of $20.36 and a 200-day simple moving average of $19.40. The stock has a market cap of $8.31 billion, a price-to-earnings ratio of 11.88, a price-to-earnings-growth ratio of 1.19 and a beta of 0.86.

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 for the quarter, topping 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 period last year, the firm earned $0.32 EPS. Analysts anticipate that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a dividend of $0.15 per share. The ex-dividend date was Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.71%. First Horizon's dividend payout ratio (DPR) is presently 44.12%.

Insider Transactions at First Horizon

In related news, CEO D Bryan Jordan sold 109,980 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 1,861,381 shares in the company, valued at $39,330,980.53. This represents a 5.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.87% of the company's stock.

Analyst Upgrades and Downgrades

FHN has been the subject of several research analyst reports. UBS Group assumed coverage on First Horizon in a research report on Tuesday, December 17th. They set a "buy" rating and a $25.00 price target for the company. StockNews.com cut First Horizon from a "hold" rating to a "sell" rating in a report on Monday. Keefe, Bruyette & Woods boosted their price target on shares of First Horizon from $23.00 to $24.00 and gave the stock a "market perform" rating in a research note on Thursday, December 19th. Stephens reissued an "overweight" rating and issued a $24.00 price objective on shares of First Horizon in a research note on Friday, January 17th. Finally, Barclays upped their target price on shares of First Horizon from $23.00 to $25.00 and gave the stock an "overweight" rating in a research note on Friday, December 20th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target 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.