Intech Investment Management LLC Purchases 223,993 Shares of First Horizon Co. (NYSE:FHN)

Intech Investment Management LLC lifted its stake in shares of First Horizon Co. (NYSE:FHN - Free Report) by 53.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 644,742 shares of the financial services provider's stock after acquiring an additional 223,993 shares during the period. Intech Investment Management LLC owned approximately 0.12% of First Horizon worth $12,985,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Versant Capital Management Inc boosted its holdings in First Horizon by 160.1% during the fourth quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider's stock worth $29,000 after purchasing an additional 884 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in First Horizon during the fourth quarter worth $30,000. Kentucky Trust Co acquired a new position in First Horizon during the fourth quarter worth $32,000. True Wealth Design LLC acquired a new position in First Horizon during the third quarter worth $36,000. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in First Horizon by 335.6% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,596 shares of the financial services provider's stock worth $52,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors own 80.28% of the company's stock.

Insider Activity

In related news, CEO D Bryan Jordan sold 109,980 shares of the company's stock in a transaction dated 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 sale, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.87% of the company's stock.

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First Horizon Stock Performance

Shares of NYSE FHN traded up $0.04 during mid-day trading on Friday, reaching $19.26. 11,623,347 shares of the company were exchanged, compared to its average volume of 6,037,149. The company's 50-day simple moving average is $20.80 and its 200-day simple moving average is $19.17. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $9.90 billion, a P/E ratio of 14.16, a P/E/G ratio of 1.19 and a beta of 0.86. First Horizon Co. has a twelve month low of $13.72 and a twelve month high of $22.44.

First Horizon (NYSE:FHN - Get Free Report) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.43 EPS for the quarter, topping analysts' consensus estimates 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 business earned $0.32 EPS. As a group, research analysts predict that First Horizon Co. will post 1.67 earnings per share for the current year.

First Horizon Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts recently commented on FHN shares. Citigroup increased their target price on shares of First Horizon from $24.00 to $25.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Wells Fargo & Company increased their target price on shares of First Horizon from $21.00 to $22.00 and gave the stock an "equal weight" rating in a report on Friday, January 17th. The Goldman Sachs Group increased their price target on shares of First Horizon from $18.50 to $23.00 and gave the company a "neutral" rating in a research note on Tuesday, November 26th. Bank of America increased their price target on shares of First Horizon from $23.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, January 17th. Finally, Royal Bank of Canada increased their price target on shares of First Horizon from $22.00 to $23.00 and gave the company an "outperform" rating in a research note on Wednesday, December 11th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, First Horizon presently has a consensus 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.