Nisa Investment Advisors LLC Has $1.36 Million Stock Position in First Horizon Co. (NYSE:FHN)

Nisa Investment Advisors LLC decreased its holdings in shares of First Horizon Co. (NYSE:FHN - Free Report) by 19.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 67,012 shares of the financial services provider's stock after selling 16,328 shares during the period. Nisa Investment Advisors LLC's holdings in First Horizon were worth $1,360,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of FHN. UMB Bank n.a. raised its stake in First Horizon by 365.0% during the third quarter. UMB Bank n.a. now owns 1,688 shares of the financial services provider's stock worth $26,000 after acquiring an additional 1,325 shares during the period. Nemes Rush Group LLC lifted its holdings in shares of First Horizon by 306.2% in the 2nd quarter. Nemes Rush Group LLC now owns 1,828 shares of the financial services provider's stock worth $29,000 after purchasing an additional 1,378 shares during the last quarter. Versant Capital Management Inc boosted its position in First Horizon by 160.1% during the 4th quarter. Versant Capital Management Inc now owns 1,436 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 884 shares during the period. Covestor Ltd boosted its holdings in shares of First Horizon by 44.0% during the third quarter. Covestor Ltd now owns 2,130 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 651 shares during the period. Finally, True Wealth Design LLC bought a new position in First Horizon in the 3rd quarter worth about $36,000. 80.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at First Horizon

In other First Horizon news, CEO D Bryan Jordan sold 109,980 shares of the firm's stock in a transaction on 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 sale, the chief executive officer now directly owns 1,861,381 shares in the company, valued at $39,330,980.53. This trade represents a 5.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Harry V. Barton, Jr. sold 10,000 shares of the company's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $19.92, for a total transaction of $199,200.00. Following the transaction, the director now directly owns 166,840 shares of the company's stock, valued at $3,323,452.80. This represents a 5.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 220,954 shares of company stock worth $4,519,333 over the last ninety days. Company insiders own 0.87% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on FHN shares. Raymond James increased their price target on First Horizon from $19.00 to $22.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Robert W. Baird set a $17.00 price objective on First Horizon in a research note on Thursday, October 17th. The Goldman Sachs Group boosted their target price on First Horizon from $18.50 to $23.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 26th. Barclays increased their price target on First Horizon from $23.00 to $25.00 and gave the company an "overweight" rating in a research report on Friday, December 20th. Finally, Royal Bank of Canada boosted their price objective on First Horizon from $22.00 to $23.00 and gave the stock an "outperform" rating in a report on Wednesday, December 11th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $22.04.

First Horizon Stock Up 0.4 %

Shares of FHN traded up $0.10 during trading hours on Tuesday, hitting $21.30. 6,331,033 shares of the company were exchanged, compared to its average volume of 5,891,896. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.96. The company has a market cap of $11.29 billion, a PE ratio of 15.66, a PEG ratio of 1.19 and a beta of 0.92. The firm's 50 day moving average is $20.55 and its 200-day moving average is $17.94. First Horizon Co. has a 52 week low of $13.45 and a 52 week high of $21.82.

First Horizon (NYSE:FHN - Get Free Report) last announced its earnings results on Thursday, January 16th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 quarter in the previous year, the company earned $0.32 earnings per share. On average, equities research analysts forecast that First Horizon Co. will post 1.63 EPS for the current fiscal year.

First Horizon announced that its Board of Directors has approved a share buyback program on Tuesday, October 29th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 10.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.

First Horizon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.82%. First Horizon's dividend payout ratio (DPR) is 44.12%.

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.