JPMorgan Chase & Co. Has $111.27 Million Holdings in First Horizon Co. (NYSE:FHN)

JPMorgan Chase & Co. lifted its position in shares of First Horizon Co. (NYSE:FHN - Free Report) by 160.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,524,827 shares of the financial services provider's stock after acquiring an additional 3,400,811 shares during the period. JPMorgan Chase & Co. owned approximately 1.04% of First Horizon worth $111,270,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Elo Mutual Pension Insurance Co bought a new position in First Horizon in the fourth quarter valued at about $230,000. WINTON GROUP Ltd bought a new stake in shares of First Horizon during the 4th quarter valued at approximately $6,763,000. Segall Bryant & Hamill LLC acquired a new position in First Horizon during the 4th quarter worth approximately $220,000. LPL Financial LLC lifted its stake in First Horizon by 4.4% in the 4th quarter. LPL Financial LLC now owns 164,501 shares of the financial services provider's stock valued at $3,313,000 after purchasing an additional 6,931 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in First Horizon in the fourth quarter valued at approximately $2,549,000. Institutional investors and hedge funds own 80.28% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on FHN. Citigroup increased their price target on First Horizon from $24.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Raymond James cut their price target on First Horizon from $23.00 to $22.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 2nd. StockNews.com lowered shares of First Horizon from a "hold" rating to a "sell" rating in a report on Monday, March 31st. Wells Fargo & Company boosted 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. Finally, 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 note on Friday, January 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $22.57.

Remove Ads

First Horizon Trading Up 1.9 %

FHN stock traded up $0.30 during mid-day trading on Monday, reaching $16.51. The company's stock had a trading volume of 12,321,215 shares, compared to its average volume of 6,256,866. First Horizon Co. has a 12 month low of $13.72 and a 12 month high of $22.44. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14. The business's 50 day moving average price is $20.27 and its 200 day moving average price is $19.45. The company has a market cap of $8.49 billion, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 1.19 and a beta of 0.60.

First Horizon (NYSE:FHN - Get Free Report) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.43 earnings per share for the quarter, beating 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 period last year, the company posted $0.32 earnings per share. On average, equities research analysts predict that First Horizon Co. will post 1.67 EPS for the current year.

First Horizon Dividend Announcement

The business also recently disclosed 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 of this dividend was Friday, March 14th. This represents a $0.60 annualized dividend and a dividend yield of 3.63%. First Horizon's dividend payout ratio is currently 44.12%.

Insider Transactions at First Horizon

In other news, CEO D Bryan Jordan sold 109,980 shares of the company'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 transaction, the chief executive officer now directly owns 1,861,381 shares of the company's stock, valued at $39,330,980.53. This represents a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.87% of the company's stock.

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.